Report Update Mar 1, 2025

Sri Lanka - Direction Finding Compasses - Market Analysis, Forecast, Size, Trends and Insights

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Sri Lanka: Direction Finding Compass Market 2025

Direction Finding Compass Market Size in Sri Lanka

The Sri Lankan direction finding compass market skyrocketed to $X in 2021, picking up by 49% 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). Overall, the total consumption indicated a modest 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, consumption increased by +112.6% against 2019 indices. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market remained at a somewhat lower figure.

Direction Finding Compass Exports

Exports from Sri Lanka

In 2021, exports of direction finding compasses from Sri Lanka contracted markedly to X units, dropping by -93.4% against 2020. In general, exports, however, recorded significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 4,009% against the previous year. As a result, the exports attained the peak of X units, and then contracted notably in the following year.

In value terms, direction finding compass exports declined notably to $X in 2021. Over the period under review, exports, however, enjoyed a significant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 2,759% against the previous year. As a result, the exports reached the peak of $X, and then plummeted in the following year.

Exports by Country

Seychelles (X units) was the main destination for direction finding compass exports from Sri Lanka, accounting for a approx. 100% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Seychelles amounted to +49.6%.

In value terms, the United States ($X) remains the key foreign market for direction finding compasses exports from Sri Lanka, comprising 24% of total exports. The second position in the ranking was taken by Seychelles ($X), with a 1% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States stood at +135.8%.

Export Prices by Country

The average direction finding compass export price stood at $X per unit in 2021, reducing by -46% against the previous year. Over the period under review, the export price, however, showed a tangible increase. The growth pace was the most rapid in 2015 an increase of 88%. The export price peaked at $X per unit in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

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

From 2013 to 2021, the rate of growth in terms of prices for Seychelles amounted to -67.7% per year.

Direction Finding Compass Imports

Imports into Sri Lanka

Direction finding compass imports into Sri Lanka shrank dramatically to X units in 2021, which is down by -33.7% against the year before. In general, imports saw a perceptible reduction. The growth pace was the most rapid in 2020 with an increase of 180%. As a result, imports attained the peak of X units, and then shrank significantly in the following year.

In value terms, direction finding compass imports fell notably to $X in 2021. Overall, imports, however, enjoyed resilient growth. The growth pace was the most rapid in 2020 with an increase of 318% against the previous year. As a result, imports reached the peak of $X, and then declined markedly in the following year.

Imports by Country

In 2021, China (X units) constituted the largest supplier of direction finding compass to Sri Lanka, with a 75% share of total imports. Moreover, direction finding compass imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), fivefold. Finland (X units) ranked third in terms of total imports with a 3.9% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +31.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-15.2% per year) and Finland (+5.7% per year).

In value terms, Germany ($X), Finland ($X) and Japan ($X) constituted the largest direction finding compass suppliers to Sri Lanka, together comprising 36% of total imports.

Germany, with a CAGR of +15.6%, recorded 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

In 2021, the average direction finding compass import price amounted to $X per unit, waning by -12.9% against the previous year. Overall, the import price, however, continues to indicate a strong increase. The growth pace was the most rapid in 2016 when the average import price increased by 93% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2020, and then dropped in the following year.

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 Sweden ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+75.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for direction finding compasses in the world?

China remains the largest direction finding compass consuming country worldwide, accounting for 54% of total volume. Moreover, direction finding compass consumption in China exceeded the figures recorded by the second-largest consumer, Indonesia, ninefold. The third position in this ranking was occupied by the United States, with a 5.1% share.

What are the largest producers of direction finding compasses in the world?

China remains the largest direction finding compass producing country worldwide, comprising approx. 75% of total volume. Moreover, direction finding compass production in China exceeded the figures recorded by the second-largest producer, Norway, more than tenfold. Taiwan Chinese) ranked third in terms of total production with a 5.2% share.

What are the leading suppliers of direction finding compasses to Sri Lanka?

In value terms, Germany constituted the largest supplier of direction finding compass to Sri Lanka, comprising 17% of total imports. The second position in the ranking was occupied by Japan, with a 4.1% share of total imports. It was followed by China, with a 2.9% share.

What are the leading importers of direction finding compasses from Sri Lanka?

In value terms, the United States remains the key foreign market for direction finding compass exports from Sri Lanka, comprising 70% of total exports. The second position in the ranking was occupied by India, with a 29% share of total exports.

What is the average export price for direction finding compasses in Sri Lanka?

In 2021, the average direction finding compass export price amounted to $4.2 per unit, declining by -6.2% against the previous year.

What is the average import price for direction finding compasses in Sri Lanka?

In 2021, the average direction finding compass import price amounted to $3.8 per unit, waning by -20.1% against the previous year.

This report provides an in-depth analysis of the direction finding compass market in Sri Lanka. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 26511120 - Direction finding compasses (including magnetic, gyroscopic, b innacle and position finding)

Country coverage:

Sri Lanka

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Sri Lanka
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2024
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2024
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2024
2. Market Volume, In Physical Terms, 2012–2024
3. Market Value, 2012–2024
4. Per Capita Consumption In 2012-2024
5. Imports, In Physical Terms, By Country, 2012–2024
6. Imports, In Value Terms, By Country, 2012–2024
7. Import Prices, By Country Of Origin, 2012–2024
8. Exports, In Physical Terms, By Country, 2012–2024
9. Exports, In Value Terms, By Country, 2012–2024
10. Export Prices, By Country Of Destination, 2012–2024
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2024
2. Market Value, 2012–2024
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
5. Trade Balance, In Physical Terms, 2012-2024
6. Trade Balance, In Value Terms, 2012-2024
7. Per Capita Consumption, 2012-2024
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2024
22. Production, In Value Terms, 2012–2024
23. Imports, In Physical Terms, 2012–2024
24. Imports, In Value Terms, 2012–2024
25. Imports, In Physical Terms, By Country, 2024
26. Imports, In Physical Terms, By Country, 2012–2024
27. Imports, In Value Terms, By Country, 2012–2024
28. Import Prices, By Country Of Origin, 2012–2024
29. Exports, In Physical Terms, 2012–2024
30. Exports, In Value Terms, 2012–2024
31. Exports, In Physical Terms, By Country, 2024
32. Exports, In Physical Terms, By Country, 2012–2024
33. Exports, In Value Terms, By Country, 2012–2024
34. Export Prices, By Country Of Destination, 2012–2024