Sri Lanka: Electrical Signalling Apparatus Market 2025

Electrical Signalling Apparatus Market Size in Sri Lanka

The Sri Lankan electrical signalling apparatus market dropped to $X in 2022, shrinking by -3.2% against the previous year. Over the period under review, the total consumption indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +1.1% against 2020 indices. Over the period under review, the market attained the peak level at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Electrical Signalling Apparatus Production in Sri Lanka

In value terms, electrical signalling apparatus production dropped to $X in 2022 estimated in export price. In general, the total production indicated a modest increase from 2012 to 2022: its value increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +3.5% against 2020 indices. The most prominent rate of growth was recorded in 2016 when the production volume increased by 72%. Electrical signalling apparatus production peaked at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Electrical Signalling Apparatus Exports

Exports from Sri Lanka

In 2022, overseas shipments of electrical apparatus for sound or visual signalling decreased by -91.2% to X units, falling for the second consecutive year after two years of growth. Overall, exports faced a precipitous setback. The most prominent rate of growth was recorded in 2019 with an increase of 191% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, electrical signalling apparatus exports reduced dramatically to $X in 2022. Over the period under review, exports showed a dramatic shrinkage. The most prominent rate of growth was recorded in 2019 with an increase of 228% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Lebanon (X units) was the main destination for electrical signalling apparatus exports from Sri Lanka, with a 56% share of total exports. Moreover, electrical signalling apparatus exports to Lebanon exceeded the volume sent to the second major destination, Haiti (X units), threefold. Canada (X units) ranked third in terms of total exports with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Lebanon stood at +63.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Haiti (0.0% per year) and Canada (-0.2% per year).

In value terms, Lebanon ($X) emerged as the key foreign market for electrical apparatus for sound or visual signalling exports from Sri Lanka, comprising 56% of total exports. The second position in the ranking was held by Haiti ($X), with a 21% share of total exports. It was followed by Canada, with a 13% share.

From 2012 to 2022, the average annual growth rate of value to Lebanon totaled +125.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Haiti (0.0% per year) and Canada (+4.7% per year).

Export Prices by Country

The average electrical signalling apparatus export price stood at $X per unit in 2022, picking up by 41% against the previous year. In general, the export price continues to indicate a mild increase. The pace of growth was the most pronounced in 2017 when the average export price increased by 96%. As a result, the export price reached the peak level of $X per unit. From 2018 to 2022, the average export prices remained at a lower figure.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were the Philippines ($X per unit) and Canada ($X per unit), while the average price for exports to Switzerland ($X per unit) and Maldives ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Lebanon (+37.9%), while the prices for the other major destinations experienced more modest paces of growth.

Electrical Signalling Apparatus Imports

Imports into Sri Lanka

In 2022, purchases abroad of electrical apparatus for sound or visual signalling decreased by -26.7% to X units, falling for the second year in a row after two years of growth. Over the period under review, imports, however, saw a perceptible increase. The most prominent rate of growth was recorded in 2013 when imports increased by 121%. Imports peaked at X units in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, electrical signalling apparatus imports dropped remarkably to $X in 2022. In general, imports, however, showed a strong increase. The most prominent rate of growth was recorded in 2013 when imports increased by 112% against the previous year. Over the period under review, imports reached the maximum at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest supplier of electrical signalling apparatus to Sri Lanka, accounting for a 61% share of total imports. Moreover, electrical signalling apparatus imports from China exceeded the figures recorded by the second-largest supplier, India (X units), sixfold. The third position in this ranking was held by Switzerland (X units), with a 4.3% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +15.9%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-5.3% per year) and Switzerland (+14.4% per year).

In value terms, China ($X) constituted the largest supplier of electrical apparatus for sound or visual signalling to Sri Lanka, comprising 61% of total imports. The second position in the ranking was taken by India ($X), with a 10% share of total imports. It was followed by Switzerland, with a 4.3% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to +18.4%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-3.3% per year) and Switzerland (+16.9% per year).

Import Prices by Country

The average electrical signalling apparatus import price stood at $X per unit in 2022, picking up by 7.6% against the previous year. Overall, import price indicated moderate growth from 2012 to 2022: its price increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, electrical signalling apparatus import price increased by +16.5% against 2020 indices. The pace of growth was the most pronounced in 2018 an increase of 20% against the previous year. The import price peaked at $X per unit in 2019; however, from 2020 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Norway ($X per unit) and India ($X per unit), while the price for Singapore ($X per unit) and the UK ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Switzerland (+2.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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