Sri Lanka: Acyclic Hydrocarbons Market 2022

Acyclic Hydrocarbons Market Size in Sri Lanka

The Sri Lankan acyclic hydrocarbons market declined dramatically to $X in 2020, waning by -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). In general, consumption, however, recorded a resilient expansion. The pace of growth was the most pronounced in 2010 with an increase of X% against the previous year. As a result, consumption attained the peak level of $X. from 2011 to 2020, the growth of the market remained at a lower figure.

Acyclic Hydrocarbons Exports

Exports from Sri Lanka

Acyclic hydrocarbons exports from Sri Lanka skyrocketed to X tons in 2020, with an increase of X% compared with the previous year. In general, exports saw strong growth. The most prominent rate of growth was recorded in 2017 with an increase of X% year-to-year. Over the period under review, exports hit record highs in 2020 and are likely to continue growth in the near future.

In value terms, acyclic hydrocarbons exports surged to $X in 2020. Over the period under review, exports showed a remarkable increase. The pace of growth was the most pronounced in 2013 when exports increased by X% year-to-year. Exports peaked at $X in 2017; however, from 2018 to 2020, exports failed to regain the momentum.

Exports by Country

Maldives (X tons) was the main destination for acyclic hydrocarbons exports from Sri Lanka, with a approx. X% share of total exports.

From 2007 to 2020, the average annual rate of growth in terms of volume to Maldives totaled +X%.

In value terms, Maldives ($X) also remains the key foreign market for acyclic hydrocarbons exports from Sri Lanka.

From 2007 to 2020, the average annual growth rate of value to Maldives totaled +X%.

Export Prices by Country

In 2020, the average acyclic hydrocarbons export price amounted to $X per ton, shrinking by -X% against the previous year. Over the period under review, the export price recorded a slight reduction. The most prominent rate of growth was recorded in 2009 an increase of X% year-to-year. Over the period under review, average export prices hit record highs at $X per ton in 2015; however, from 2016 to 2020, export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Maldives.

From 2007 to 2020, the rate of growth in terms of prices for Maldives amounted to -X% per year.

Acyclic Hydrocarbons Imports

Imports into Sri Lanka

For the third year in a row, Sri Lanka recorded growth in overseas purchases of acyclic hydrocarbons, which increased by X% to X tons in 2020. In general, imports enjoyed a strong expansion. The growth pace was the most rapid in 2009 with an increase of X% against the previous year. Over the period under review, imports attained the maximum in 2020 and are expected to retain growth in the near future.

In value terms, acyclic hydrocarbons imports dropped slightly to $X in 2020. Over the period under review, total imports indicated a noticeable expansion from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, imports increased by +X% against 2015 indices. The pace of growth was the most pronounced in 2009 with an increase of X% y-o-y. Imports peaked at $X in 2019, and then shrank in the following year.

Imports by Country

In 2020, Singapore (X tons) constituted the largest acyclic hydrocarbons supplier to Sri Lanka, accounting for a X% share of total imports. Moreover, acyclic hydrocarbons imports from Singapore exceeded the figures recorded by the second-largest supplier, Romania (X tons), twofold. Thailand (X tons) ranked third in terms of total imports with a X% share.

From 2007 to 2020, the average annual growth rate of volume from Singapore totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Romania (+X% per year) and Thailand (+X% per year).

In value terms, Singapore ($X), Thailand ($X) and China ($X) constituted the largest acyclic hydrocarbons suppliers to Sri Lanka, with a combined X% share of total imports. These countries were followed by India, Romania and South Korea, which together accounted for a further X (+X% per year) saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average acyclic hydrocarbons import price stood at $X per ton in 2020, declining by -X% against the previous year. In general, the import price recorded a deep reduction. The pace of growth appeared the most rapid in 2017 an increase of X% year-to-year. Over the period under review, average import prices hit record highs at $X per ton in 2008; however, from 2009 to 2020, import prices failed to regain the momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2020, the country with the highest price was India ($X per ton), while the price for Romania ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by China, while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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