Sri Lanka: Gin And Geneva Market 2024

Gin And Geneva Exports

Exports from Sri Lanka

In 2022, gin and geneva exports from Sri Lanka skyrocketed to X litres, increasing by 134% against the previous year's figure. Overall, exports recorded resilient growth. The pace of growth was the most pronounced in 2015 when exports increased by 3,159%. Over the period under review, the exports attained the peak figure in 2022 and are likely to see gradual growth in the near future.

In value terms, gin and geneva exports surged to $X in 2022. In general, exports posted a significant increase. The pace of growth was the most pronounced in 2015 with an increase of 3,737%. Over the period under review, the exports reached the peak figure in 2022 and are likely to see steady growth in years to come.

Exports by Country

The United Arab Emirates (X litres) was the main destination for gin and geneva exports from Sri Lanka, with a 66% share of total exports. Moreover, gin and geneva exports to the United Arab Emirates exceeded the volume sent to the second major destination, Maldives (X litres), fivefold. Denmark (X litres) ranked third in terms of total exports with an 8.1% share.

From 2012 to 2022, the average annual growth rate of volume to the United Arab Emirates was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Maldives (+0.6% per year) and Denmark (0.0% per year).

In value terms, the United Arab Emirates ($X) emerged as the key foreign market for gin and geneva exports from Sri Lanka, comprising 78% of total exports. The second position in the ranking was taken by Denmark ($X), with a 6.3% share of total exports. It was followed by Maldives, with a 5.7% share.

From 2012 to 2022, the average annual growth rate of value to the United Arab Emirates stood at +13.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (0.0% per year) and Maldives (-0.2% per year).

Export Prices by Country

The average gin and geneva export price stood at $X per litre in 2022, surging by 48% against the previous year. Overall, export price indicated a resilient increase from 2012 to 2022: its price increased at an average annual rate of +8.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, gin and geneva export price increased by +68.9% against 2020 indices. The most prominent rate of growth was recorded in 2013 an increase of 51%. Over the period under review, the average export prices attained the maximum in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($X per litre), while the average price for exports to Maldives ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+15.6%), while the prices for the other major destinations experienced more modest paces of growth.

Gin And Geneva Imports

Imports into Sri Lanka

In 2022, the amount of gin and geneva imported into Sri Lanka reduced dramatically to X litres, with a decrease of -25.2% on the year before. Over the period under review, imports, however, enjoyed a tangible expansion. The growth pace was the most rapid in 2015 with an increase of 104%. Over the period under review, imports hit record highs at X litres in 2021, and then shrank markedly in the following year.

In value terms, gin and geneva imports declined slightly to $X in 2022. Overall, imports, however, continue to indicate a prominent expansion. The pace of growth was the most pronounced in 2015 when imports increased by 81%. Over the period under review, imports reached the peak figure at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, the UK (X litres) constituted the largest supplier of gin and geneva to Sri Lanka, accounting for a 84% share of total imports. Moreover, gin and geneva imports from the UK exceeded the figures recorded by the second-largest supplier, France (X litres), tenfold. The third position in this ranking was taken by Italy (X litres), with a 4% share.

From 2012 to 2022, the average annual growth rate of volume from the UK stood at +10.8%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+20.7% per year) and Italy (+7.3% per year).

In value terms, the UK ($X) constituted the largest supplier of gin and geneva to Sri Lanka, comprising 79% of total imports. The second position in the ranking was taken by France ($X), with an 8.7% share of total imports. It was followed by Italy, with a 4.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the UK stood at +12.7%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+18.9% per year) and Italy (+11.4% per year).

Import Prices by Country

In 2022, the average gin and geneva import price amounted to $X per litre, picking up by 32% against the previous year. Over the last decade, it increased at an average annual rate of +3.8%. The pace of growth was the most pronounced in 2014 when the average import price increased by 53%. The import price peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per litre), while the price for the United Arab Emirates ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+11.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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