Sri Lanka: Market for Buckets, Shovels, Grabs And Grips For Ships’ Derricks And Cranes 2024

Exports of Buckets, Shovels, Grabs And Grips For Ships’ Derricks And Cranes

Exports from Sri Lanka

For the eighth year in a row, Sri Lanka recorded growth in overseas shipments of buckets, shovels, grabs and grips for ships’ derricks and cranes, which increased by 100% to X units in 2022. Over the period under review, exports saw significant growth. The growth pace was the most rapid in 2021 when exports increased by 685% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in years to come.

In value terms, ship derrick buckets and shovels exports dropped markedly to $X in 2022. Overall, exports recorded resilient growth. The most prominent rate of growth was recorded in 2021 when exports increased by 697% against the previous year. As a result, the exports attained the peak of $X, and then shrank markedly in the following year.

Exports by Country

The United Arab Emirates (X units), Taiwan (Chinese) (X units) and Thailand (X units) were the main destinations of ship derrick buckets and shovels exports from Sri Lanka, together comprising 100% of total exports.

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +222.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) emerged as the key foreign market for buckets, shovels, grabs and grips for ships’ derricks and cranes exports from Sri Lanka, comprising 86% of total exports. The second position in the ranking was held by Thailand ($X), with a 7.2% share of total exports.

From 2012 to 2022, the average annual growth rate of value to the United Arab Emirates totaled +77.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+599.7% per year) and Taiwan (Chinese) (0.0% per year).

Export Prices by Country

The average export price for buckets, shovels, grabs and grips for ships’ derricks and cranes stood at $X per unit in 2022, dropping by -85.5% against the previous year. Overall, the export price recorded a drastic downturn. The growth pace was the most rapid in 2020 an increase of 44% against the previous year. The export price peaked at $X per unit in 2021, and then reduced dramatically in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per unit), while the average price for exports to Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+102.9%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Buckets, Shovels, Grabs And Grips For Ships’ Derricks And Cranes

Imports into Sri Lanka

In 2022, the amount of buckets, shovels, grabs and grips for ships’ derricks and cranes imported into Sri Lanka contracted sharply to X units, with a decrease of -38.9% against the year before. Overall, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by 401%. Over the period under review, imports attained the peak figure at X units in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, ship derrick buckets and shovels imports fell rapidly to $X in 2022. Over the period under review, imports saw a mild slump. The most prominent rate of growth was recorded in 2021 with an increase of 259%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of ship derrick buckets and shovels to Sri Lanka, accounting for a 68% share of total imports. Moreover, ship derrick buckets and shovels imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), threefold. The third position in this ranking was taken by the Netherlands (X units), with a 7.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +4.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+0.5% per year) and the Netherlands (-1.4% per year).

In value terms, China ($X) constituted the largest supplier of buckets, shovels, grabs and grips for ships’ derricks and cranes to Sri Lanka, comprising 77% of total imports. The second position in the ranking was held by the Netherlands ($X), with an 11% share of total imports. It was followed by India, with a 3.9% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +6.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (-5.2% per year) and India (-11.1% per year).

Import Prices by Country

In 2022, the average import price for buckets, shovels, grabs and grips for ships’ derricks and cranes amounted to $X per unit, with an increase of 27% against the previous year. Over the period under review, the import price, however, continues to indicate a mild downturn. The pace of growth was the most pronounced in 2017 an increase of 70% against the previous year. The import price peaked at $X per unit in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($X per unit), while the price for Japan ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+1.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :