Sri Lanka: Computing Machinery Market 2024

Computing Machinery Market Size in Sri Lanka

The Sri Lankan computing machinery market skyrocketed to $X in 2021, with an increase of 61% 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, the total consumption indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +6.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +67.6% against 2019 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Computing Machinery Exports

Exports from Sri Lanka

After two years of decline, shipments abroad of computing machinery and parts and accessories thereof increased by 30% to X tons in 2021. Over the period under review, exports, however, showed a pronounced curtailment. The pace of growth was the most pronounced in 2017 with an increase of 233%. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, computing machinery exports surged to $X in 2021. Overall, exports showed buoyant growth. The pace of growth appeared the most rapid in 2017 with an increase of 274%. As a result, the exports reached the peak of $X. From 2018 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Maldives (X tons), Malaysia (X tons) and Oman (X tons) were the main destinations of computing machinery exports from Sri Lanka, with a combined 34% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Oman (with a CAGR of +211.3%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for computing machinery exported from Sri Lanka were Malaysia ($X), Hong Kong SAR ($X) and Maldives ($X), with a combined 39% share of total exports. The United States, New Caledonia, Oman, the United Arab Emirates, Singapore, India and South Korea lagged somewhat behind, together comprising a further 33%.

Oman, with a CAGR of +255.9%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average computing machinery export price stood at $X per ton in 2021, surging by 32% against the previous year. Overall, the export price enjoyed a buoyant expansion. The growth pace was the most rapid in 2013 when the average export price increased by 69% against the previous year. Over the period under review, the average export prices hit record highs in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (+49.7%), while the prices for the other major destinations experienced more modest paces of growth.

Computing Machinery Imports

Imports into Sri Lanka

In 2021, the amount of computing machinery and parts and accessories thereof imported into Sri Lanka surged to X tons, rising by 51% compared with the previous year's figure. Overall, imports continue to indicate a tangible increase. The pace of growth was the most pronounced in 2018 with an increase of 90%. As a result, imports attained the peak of X tons. From 2019 to 2021, the growth of imports failed to regain momentum.

In value terms, computing machinery imports surged to $X in 2021. Over the period under review, total imports indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +7.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +70.6% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of computing machinery to Sri Lanka, accounting for a 56% share of total imports. Moreover, computing machinery imports from China exceeded the figures recorded by the second-largest supplier, Singapore (X tons), fivefold. Malaysia (X tons) ranked third in terms of total imports with a 4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +16.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (-11.2% per year) and Malaysia (-0.9% per year).

In value terms, China ($X) constituted the largest supplier of computing machinery and parts and accessories thereof to Sri Lanka, comprising 62% of total imports. The second position in the ranking was taken by Malaysia ($X), with an 8.9% share of total imports. It was followed by Singapore, with an 8.7% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to +28.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+8.2% per year) and Singapore (-12.7% per year).

Import Prices by Country

In 2021, the average computing machinery import price amounted to $X per ton, picking up by 10% against the previous year. Overall, import price indicated a noticeable expansion from 2012 to 2021: its price increased at an average annual rate of +2.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, computing machinery import price increased by +87.6% against 2018 indices. The growth pace was the most rapid in 2019 when the average import price increased by 73% against the previous year. Over the period under review, average import prices reached the peak figure in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Malaysia ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+10.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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