Price for Machines; Parts and Accessories, of Heading No. 8472 in Bangladesh - 2022

Contents:

1. Price for Machines; Parts and Accessories, of Heading No. 8472 in Bangladesh (CIF) - 2022
2. Price for Machines; Parts and Accessories, of Heading No. 8472 in Bangladesh (FOB) - 2022
3. Imports of Machines; Parts and Accessories, of Heading No. 8472 in Bangladesh
4. Exports of Machines; Parts and Accessories, of Heading No. 8472 in Bangladesh

Price for Machines; Parts and Accessories, of Heading No. 8472 in Bangladesh (CIF) - 2022

In 2022, the average import price for machines; parts and accessories, of heading no. 8472 amounted to $53,952 per ton, with an increase of 50% against the previous year. In general, the import price continues to indicate prominent growth. The pace of growth was the most pronounced in 2016 when the average import price increased by 63% against the previous year. As a result, import price attained the peak level of $73,201 per ton. From 2017 to 2022, the average import prices failed to regain momentum.

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 South Korea ($393,000 per ton), while the price for China ($11,971 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+28.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Machines; Parts and Accessories, of Heading No. 8472 in Bangladesh (FOB) - 2022

In 2022, the average export price for machines; parts and accessories, of heading no. 8472 amounted to $519,867 per ton, increasing by 207% against the previous year. Overall, the export price showed a significant increase. The most prominent rate of growth was recorded in 2021 an increase of 692% against the previous year. The export price peaked in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Belgium ($1,322,800 per ton), while the average price for exports to the United States ($14,000 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 the United Arab Emirates (+820.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Machines; Parts and Accessories, of Heading No. 8472 in Bangladesh

Imports of machines; parts and accessories, of heading no. 8472 into Bangladesh was estimated at 12 tons in 2022, with an increase of 2% compared with the previous year. The total import volume increased at an average annual rate of +2.2% over the period from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 when imports increased by 24% against the previous year. As a result, imports reached the peak of 13 tons. From 2021 to 2022, the growth of imports of failed to regain momentum.

In value terms, imports of machines; parts and accessories, of heading no. 8472 skyrocketed to $625K in 2022. In general, total imports indicated significant growth from 2019 to 2022: its value increased at an average annual rate of +22.2% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +82.6% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Top Suppliers of Machines; Parts and Accessories, of Heading No. 8472 to Bangladesh in 2022:

1. Taiwan (Chinese) (2.9 tons)
2. Singapore (2.5 tons)
3. Poland (1.7 tons)
4. China (1.0 tons)
5. United States (0.7 tons)
6. Italy (0.6 tons)
7. Germany (0.6 tons)
8. Hungary (0.4 tons)
9. Malaysia (0.3 tons)

Exports of Machines; Parts and Accessories, of Heading No. 8472 in Bangladesh

In 2022, shipments abroad of machines; parts and accessories, of heading no. 8472 decreased by -61.5% to 15 kg, falling for the second year in a row after two years of growth. Over the period under review, exports saw a sharp slump. The pace of growth was the most pronounced in 2020 when exports increased by 168%. As a result, the exports reached the peak of 311 kg. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of machines; parts and accessories, of heading no. 8472 soared to $7.8K in 2022. In general, exports, however, enjoyed a significant increase. The pace of growth appeared the most rapid in 2020 with an increase of 99%. Over the period under review, the exports of hit record highs in 2022 and are expected to retain growth in years to come.

Top Export Markets for Machines; Parts and Accessories, of Heading No. 8472 from Bangladesh in 2022:

1. Bahrain (6.0 kg)
2. Belgium (5.0 kg)
3. Antigua and Barbuda (3.0 kg)
4. United States (1.0 kg)

Source: IndexBox Market Intelligence Platform