Bangladesh: Market for Electric Shavers, Hair-Removing Appliances And Hair Clippers 2022

Market Size for Electric Shavers, Hair-Removing Appliances And Hair Clippers in Bangladesh

In 2021, the Bangladeshi market for electric shavers, hair-removing appliances and hair clippers decreased by -7.3% to $X for the first time since 2017, thus ending a three-year rising trend. Overall, consumption, however, showed significant growth. Consumption of peaked at $X in 2020, and then dropped in the following year.

Exports of Electric Shavers, Hair-Removing Appliances And Hair Clippers

Exports from Bangladesh

In 2021, shipments abroad of electric shavers, hair-removing appliances and hair clippers was finally on the rise to reach X units for the first time since 2018, thus ending a two-year declining trend. Overall, exports recorded a strong expansion. Over the period under review, the exports of hit record highs at X units in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, exports of electric shavers, hair-removing appliances and hair clippers soared to $X in 2021. Over the period under review, exports, however, recorded a drastic downturn. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Germany (X units) was the main destination for exports of electric shavers, hair-removing appliances and hair clippers from Bangladesh, with a 92% share of total exports. Moreover, exports of electric shavers, hair-removing appliances and hair clippers to Germany exceeded the volume sent to the second major destination, Austria (X units), more than tenfold. Luxembourg (X units) ranked third in terms of total exports with a 2% share.

From 2012 to 2021, the average annual growth rate of volume to Germany amounted to +29.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Austria (+37.9% per year) and Luxembourg (+181.1% per year).

In value terms, Germany ($X) emerged as the key foreign market for electric shavers, hair-removing appliances and hair clippers exports from Bangladesh, comprising 78% of total exports. The second position in the ranking was taken by Luxembourg ($X), with an 11% share of total exports. It was followed by Austria, with a 7.1% share.

From 2012 to 2021, the average annual growth rate of value to Germany amounted to +25.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Luxembourg (+137.8% per year) and Austria (+36.6% per year).

Export Prices by Country

In 2021, the average export price for electric shavers, hair-removing appliances and hair clippers amounted to $X per unit, shrinking by -21.5% against the previous year. Overall, the export price faced a deep downturn. The growth pace was the most rapid in 2018 when the average export price increased by 99% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Luxembourg ($X per unit), while the average price for exports to Germany ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Austria (-1.0%), while the prices for the other major destinations experienced a decline.

Imports of Electric Shavers, Hair-Removing Appliances And Hair Clippers

Imports into Bangladesh

In 2021, supplies from abroad of electric shavers, hair-removing appliances and hair clippers decreased by -5.3% to X units for the first time since 2017, thus ending a three-year rising trend. Over the period under review, imports, however, continue to indicate significant growth. The most prominent rate of growth was recorded in 2016 when imports increased by 272% against the previous year. Over the period under review, imports of reached the peak figure at X units in 2020, and then contracted in the following year.

In value terms, imports of electric shavers, hair-removing appliances and hair clippers declined slightly to $X in 2021. In general, imports, however, continue to indicate a significant increase. The most prominent rate of growth was recorded in 2014 when imports increased by 334% against the previous year. Over the period under review, imports of hit record highs at $X in 2020, and then shrank modestly in the following year.

Imports by Country

In 2021, China (X units) was the main supplier of electric shavers, hair-removing appliances and hair clippers to Bangladesh, with a 92% share of total imports. Moreover, imports of electric shavers, hair-removing appliances and hair clippers from China exceeded the figures recorded by the second-largest supplier, Singapore (X units), more than tenfold. The third position in this ranking was taken by Hong Kong SAR (X units), with a 1.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +40.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+24.8% per year) and Hong Kong SAR (+34.7% per year).

In value terms, China ($X) constituted the largest supplier of electric shavers, hair-removing appliances and hair clippers to Bangladesh, comprising 77% of total imports. The second position in the ranking was taken by Singapore ($X), with a 16% share of total imports. It was followed by the United Arab Emirates, with a 5% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +35.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+28.1% per year) and the United Arab Emirates (+5.3% per year).

Import Prices by Country

In 2021, the average import price for electric shavers, hair-removing appliances and hair clippers amounted to $X per unit, surging by 2.5% against the previous year. Over the period under review, the import price, however, showed a pronounced contraction. The growth pace was the most rapid in 2014 an increase of 64% against the previous year. As a result, import price reached the peak level of $X per unit. From 2015 to 2021, the average import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was the United Arab Emirates ($X per unit), while the price for Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+10.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :