Bangladesh: Plastic Ornamental Articles Market 2024

Plastic Ornamental Articles Market Size in Bangladesh

The Bangladeshi plastic ornamental articles market shrank to $X in 2022, with a decrease of X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, posted a significant increase. Over the period under review, the market reached the peak level at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Plastic Ornamental Articles Exports

Exports from Bangladesh

For the fifth consecutive year, Bangladesh recorded growth in overseas shipments of statuettes and other ornamental articles of plastic, which increased by X% to X tons in 2022. In general, exports continue to indicate a significant increase. The pace of growth was the most pronounced in 2015 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, plastic ornamental articles exports expanded modestly to $X in 2022. Over the period under review, exports showed significant growth. The pace of growth appeared the most rapid in 2020 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X; afterwards, it flattened through to 2022.

Exports by Country

Japan (X tons), Austria (X tons) and the UK (X tons) were the main destinations of plastic ornamental articles exports from Bangladesh, with a combined X% share of total exports. The United Arab Emirates, Taiwan (Chinese), Australia, Costa Rica and India lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) remains the key foreign market for statuettes and other ornamental articles of plastic exports from Bangladesh, comprising X% of total exports. The second position in the ranking was held by Austria ($X), with a X% share of total exports. It was followed by Taiwan (Chinese), with a X% share.

From 2012 to 2022, the average annual growth rate of value to Japan stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Austria (X% per year) and Taiwan (Chinese) (X% per year).

Export Prices by Country

In 2022, the average plastic ornamental articles export price amounted to $X per ton, with a decrease of X% against the previous year. Overall, the export price, however, posted a buoyant increase. The most prominent rate of growth was recorded in 2016 when the average export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2017 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Japan (X%), while the prices for the other major destinations experienced a decline.

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Plastic Ornamental Articles Imports

Imports into Bangladesh

In 2022, the amount of statuettes and other ornamental articles of plastic imported into Bangladesh shrank to X tons, dropping by X% on the previous year. Over the period under review, imports, however, saw prominent growth. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Imports peaked at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, plastic ornamental articles imports contracted to $X in 2022. In general, imports, however, posted a significant expansion. The pace of growth was the most pronounced in 2014 when imports increased by X% against the previous year. Imports peaked at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) was the main supplier of plastic ornamental articles to Bangladesh, with a X% share of total imports. Moreover, plastic ornamental articles imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (X% per year) and India (X% per year).

In value terms, China ($X) constituted the largest supplier of statuettes and other ornamental articles of plastic to Bangladesh, comprising X% of total imports. The second position in the ranking was held by Vietnam ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (X% per year) and India (X% per year).

Import Prices by Country

In 2022, the average plastic ornamental articles import price amounted to $X per ton, reducing by X% against the previous year. Over the period under review, the import price, however, posted a resilient increase. The pace of growth was the most pronounced in 2014 when the average import price increased by X%. The import price peaked at $X per ton in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Vietnam ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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