Sri Lanka: Refrigerator Or Freezer Market 2025

Refrigerator Or Freezer Market Size in Sri Lanka

The Sri Lankan refrigerator or freezer market skyrocketed to $X in 2022, with an increase of 28% 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, consumption, however, faced a abrupt downturn. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market failed to regain momentum.

Refrigerator Or Freezer Exports

Exports from Sri Lanka

Refrigerator or freezer exports from Sri Lanka reduced notably to X units in 2022, declining by -22% compared with 2021 figures. Overall, exports recorded a sharp reduction. The most prominent rate of growth was recorded in 2017 with an increase of 491% against the previous year. The exports peaked at X units in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, refrigerator or freezer exports reduced markedly to $X in 2022. In general, exports saw a sharp curtailment. The pace of growth appeared the most rapid in 2013 with an increase of 430% against the previous year. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

India (X units) was the main destination for refrigerator or freezer exports from Sri Lanka, accounting for a 83% share of total exports. Moreover, refrigerator or freezer exports to India exceeded the volume sent to the second major destination, Maldives (X units), fivefold.

From 2012 to 2022, the average annual growth rate of volume to India totaled +3.9%.

In value terms, India ($X) and Maldives ($X) were the largest markets for refrigerator or freezer exported from Sri Lanka worldwide.

In terms of the main countries of destination, India, with a CAGR of -8.6%, recorded the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

In 2022, the average refrigerator or freezer export price amounted to $X per unit, falling by -33.7% against the previous year. In general, the export price saw a noticeable reduction. The most prominent rate of growth was recorded in 2013 when the average export price increased by 84% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2014 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Maldives ($X per unit), while the average price for exports to India stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Denmark (+7.0%), while the prices for the other major destinations experienced mixed trend patterns.

Refrigerator Or Freezer Imports

Imports into Sri Lanka

In 2022, refrigerator or freezer imports into Sri Lanka skyrocketed to X units, with an increase of 48% against the previous year's figure. Over the period under review, imports, however, saw a abrupt downturn. The growth pace was the most rapid in 2016 when imports increased by 725%. As a result, imports attained the peak of X units. From 2017 to 2022, the growth of imports remained at a lower figure.

In value terms, refrigerator or freezer imports rose sharply to $X in 2022. Overall, imports, however, faced a abrupt decrease. The pace of growth was the most pronounced in 2016 with an increase of 950% against the previous year. As a result, imports reached the peak of $X. From 2017 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest supplier of refrigerator or freezer to Sri Lanka, with a 85% share of total imports. Moreover, refrigerator or freezer imports from China exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X units), ninefold.

From 2012 to 2022, the average annual growth rate of volume from China stood at +11.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+10.3% per year) and India (-29.3% per year).

In value terms, China ($X) constituted the largest supplier of furniture designed to receive refrigerating or freezing equipment to Sri Lanka, comprising 61% of total imports. The second position in the ranking was taken by India ($X), with a 15% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +3.8%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-26.0% per year) and the United Arab Emirates (+7.3% per year).

Import Prices by Country

The average refrigerator or freezer import price stood at $X per unit in 2022, with a decrease of -26.2% against the previous year. Over the period under review, the import price showed a abrupt curtailment. The most prominent rate of growth was recorded in 2018 an increase of 49% against the previous year. As a result, import price attained the peak level of $X per unit. From 2019 to 2022, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was India ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+4.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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