Sri Lanka: Electronic Metal Tester Market 2024

Electronic Metal Tester Market Size in Sri Lanka

The Sri Lankan electronic metal tester market fell sharply to $X in 2021, dropping by -37.4% 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, consumption faced a abrupt decline. Electronic metal tester consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Electronic Metal Tester Exports

Exports from Sri Lanka

Electronic metal tester exports from Sri Lanka contracted dramatically to X units in 2021, waning by -27.3% against the year before. Over the period under review, exports recorded a mild decrease. The pace of growth was the most pronounced in 2013 when exports increased by 800%. As a result, the exports attained the peak of X units. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, electronic metal tester exports declined to $X in 2021. In general, exports recorded a abrupt slump. The most prominent rate of growth was recorded in 2019 with an increase of 923% against the previous year. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

Exports by Country

India (X units) was the main destination for electronic metal tester exports from Sri Lanka, accounting for a 75% share of total exports. Moreover, electronic metal tester exports to India exceeded the volume sent to the second major destination, the UK (X units), sixfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to India amounted to -3.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (-55.3% per year) and Singapore (-41.7% per year).

In value terms, the UK ($X), Singapore ($X) and India ($X) appeared to be the largest markets for electronic metal tester exported from Sri Lanka worldwide, together comprising 88% of total exports.

Singapore, with a CAGR of +36.9%, 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 a decline.

Export Prices by Country

In 2021, the average electronic metal tester export price amounted to $X per unit, increasing by 20% against the previous year. Over the period under review, the export price, however, saw a deep downturn. The pace of growth appeared the most rapid in 2014 when the average export price increased by 184% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was the UK ($X per unit), while the average price for exports to India ($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 UK (+88.7%), while the prices for the other major destinations experienced mixed trend patterns.

Electronic Metal Tester Imports

Imports into Sri Lanka

Electronic metal tester imports into Sri Lanka contracted significantly to X units in 2021, waning by -50% on 2020. Overall, imports continue to indicate a dramatic curtailment. The growth pace was the most rapid in 2019 with an increase of 120%. Over the period under review, imports reached the maximum at X units in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, electronic metal tester imports declined markedly to $X in 2021. In general, imports saw a deep setback. The most prominent rate of growth was recorded in 2019 when imports increased by 71%. Imports peaked at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Japan (X units) constituted the largest electronic metal tester supplier to Sri Lanka, accounting for a 42% share of total imports. Moreover, electronic metal tester imports from Japan exceeded the figures recorded by the second-largest supplier, India (X units), threefold. China (X units) ranked third in terms of total imports with a 10% share.

From 2012 to 2021, the average annual growth rate of volume from Japan stood at -27.9%. The remaining supplying countries recorded the following average annual rates of imports growth: India (0.0% per year) and China (-29.6% per year).

In value terms, Japan ($X) constituted the largest supplier of electronic machines and appliances for testing metals to Sri Lanka, comprising 38% of total imports. The second position in the ranking was taken by Denmark ($X), with a 9.5% share of total imports. It was followed by China, with a 7.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Japan amounted to -10.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (+14.0% per year) and China (-16.4% per year).

Import Prices by Country

In 2021, the average electronic metal tester import price amounted to $X per unit, surging by 42% against the previous year. Over the period under review, the import price enjoyed significant growth. The most prominent rate of growth was recorded in 2018 when the average import price increased by 77%. Over the period under review, average import prices reached the maximum 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, the country with the highest price was Denmark ($X per unit), while the price for Singapore ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+35.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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