Sri Lanka: Totaliser Market 2024

Totaliser Market Size in Sri Lanka

After two years of decline, the Sri Lankan totaliser market increased by 96% to $X in 2021. Over the period under review, consumption showed a significant expansion. Totaliser consumption peaked in 2021 and is expected to retain growth in the immediate term.

Totaliser Production in Sri Lanka

In value terms, totaliser production contracted to $X in 2021 estimated in export price. Over the period under review, the total production indicated a slight increase from 2012 to 2021: its value increased at an average annual rate of +1.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +109.7% against 2018 indices. The pace of growth appeared the most rapid in 2019 with an increase of 94% against the previous year. Over the period under review, production hit record highs at $X in 2020, and then fell in the following year.

Totaliser Exports

Exports from Sri Lanka

After two years of growth, overseas shipments of continuous and discontinuous totalisers decreased by -14.5% to X units in 2021. In general, exports, however, recorded a modest increase. The most prominent rate of growth was recorded in 2019 with an increase of 90% against the previous year. Over the period under review, the exports hit record highs at X units in 2020, and then fell in the following year.

In value terms, totaliser exports shrank markedly to $X in 2021. Over the period under review, exports recorded a noticeable curtailment. The most prominent rate of growth was recorded in 2019 with an increase of 139% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X units) was the main destination for totaliser exports from Sri Lanka, with a 66% share of total exports. Moreover, totaliser exports to the United States exceeded the volume sent to the second major destination, China (X units), fourfold. The third position in this ranking was held by South Korea (X units), with a 7.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States stood at -3.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+391.4% per year) and South Korea (+85.3% per year).

In value terms, the United States ($X) remains the key foreign market for continuous and discontinuous totalisers exports from Sri Lanka, comprising 40% of total exports. The second position in the ranking was taken by China ($X), with a 19% share of total exports. It was followed by South Korea, with an 11% share.

From 2012 to 2021, the average annual growth rate of value to the United States totaled -7.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+60.6% per year) and South Korea (-0.8% per year).

Export Prices by Country

The average totaliser export price stood at $X per unit in 2021, which is down by -8.7% against the previous year. Overall, the export price saw a noticeable downturn. The pace of growth appeared the most rapid in 2016 when the average export price increased by 66% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2017 to 2021, the average export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (-4.1%), while the prices for the other major destinations experienced a decline.

Totaliser Imports

Imports into Sri Lanka

In 2021, supplies from abroad of continuous and discontinuous totalisers was finally on the rise to reach X units after three years of decline. Over the period under review, imports, however, continue to indicate a deep slump. The most prominent rate of growth was recorded in 2015 when imports increased by 347%. Over the period under review, imports hit record highs at X units in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, totaliser imports soared to $X in 2021. Overall, imports, however, recorded a perceptible curtailment. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X units) was the main supplier of totaliser to Sri Lanka, accounting for a approx. 99% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +62.7%.

In value terms, the largest totaliser suppliers to Sri Lanka were Australia ($X), India ($X) and China ($X), with a combined 49% share of total imports.

Among the main suppliers, India, with a CAGR of +82.4%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average totaliser import price stood at $X per unit in 2021, picking up by 2.9% against the previous year. In general, import price indicated a prominent expansion from 2012 to 2021: its price increased at an average annual rate of +6.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 an increase of 78% against the previous year. The import price peaked at $X per unit in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+350.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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