Bangladesh: Truck Market 2022

Truck Market Size in Bangladesh

In 2021, the bangladeshi truck market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend.In general, consumption continues to indicate buoyant growth.Truck consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Truck Exports

Exports from Bangladesh

In 2021, the amount of trucks exported from bangladesh shrank notably to X units, waning by -X% compared with the previous year.Over the period under review, exports showed a abrupt curtailment.The most prominent rate of growth was recorded in 2020 when exports increased by X% against the previous year.Over the period under review, the exports reached the peak figure at X units in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, truck exports declined to $X in 2021.Overall, exports showed a noticeable contraction.The pace of growth was the most pronounced in 2015 with an increase of X% against the previous year.As a result, the exports attained the peak of $X. from 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Maldives (X units) was the main destination for truck exports from Bangladesh, accounting for a X% share of total exports. Moreover, truck exports to Maldives exceeded the volume sent to the second major destination, Tunisia (X units), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Maldives totaled +X%.

In value terms, Maldives ($X) remains the key foreign market for truck exports from Bangladesh, comprising X% of total exports. The second position in the ranking was taken by Tunisia ($X), with a X% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Maldives amounted to +X%.

Export Prices by Country

The average truck export price stood at $X per unit in 2021, rising by X% against the previous year. Over the period under review, export price indicated buoyant growth from 2012 to 2021: its price increased at an average annual rate of +X% over the last nine-year period. the trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. based on 2021 figures, truck export price decreased by -X% against 2019 indices.Over the period under review, the average export prices attained the peak figure at $X per unit in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Maldives ($X per unit), while the average price for exports to Tunisia stood at $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Maldives (-X%).

Truck Imports

Imports into Bangladesh

In 2021, purchases abroad of trucks increased by X% to X units for the first time since 2018, thus ending a two-year declining trend.In general, imports recorded a strong increase.The most prominent rate of growth was recorded in 2014 with an increase of X peaked at X units in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, truck imports surged to $X in 2021.Overall, imports showed a remarkable increase.The growth pace was the most rapid in 2016 with an increase of X the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, India (X units) constituted the largest truck supplier to Bangladesh, accounting for a X% share of total imports. Moreover, truck imports from India exceeded the figures recorded by the second-largest supplier, Japan (X units), sevenfold. China (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from India amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+X% per year) and China (+X% per year).

In value terms, India ($X) constituted the largest supplier of truck to Bangladesh, comprising X% of total imports. The second position in the ranking was taken by Japan ($X), with a X% share of total imports. It was followed by China, with a X% share.

From 2012 to 2021, the average annual growth rate of value from India totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+X% per year) and China (+X% per year).

Import Prices by Country

The average truck import price stood at $X per unit in 2021, therefore, remained relatively stable against the previous year. Overall, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average import price increased by X%. As a result, import price reached the peak level of $X per unit. from 2014 to 2021, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was China ($X per unit), while the price for India ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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