Sri Lanka: Market for Gravel And Crushed Stone 2024

Market Size for Gravel And Crushed Stone in Sri Lanka

In 2021, the Sri Lankan gravel and crushed stone market was finally on the rise to reach $X after two years of decline. Overall, the total consumption indicated a noticeable increase from 2012 to 2021: its value increased at an average annual rate of +4.7% 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 decreased by -24.9% against 2018 indices. Gravel and crushed stone consumption peaked at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Production of Gravel And Crushed Stone in Sri Lanka

In value terms, gravel and crushed stone production expanded remarkably to $X in 2021 estimated in export price. Over the period under review, the total production indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +6.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -25.2% against 2018 indices. The pace of growth was the most pronounced in 2016 when the production volume increased by 43%. Gravel and crushed stone production peaked at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Exports of Gravel And Crushed Stone

Exports from Sri Lanka

In 2021, shipments abroad of gravel and crushed stone was finally on the rise to reach X tons after five years of decline. Overall, exports, however, recorded a abrupt slump. The exports peaked at X tons in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, gravel and crushed stone exports surged to $X in 2021. In general, exports, however, recorded a drastic downturn. The pace of growth appeared the most rapid in 2014 when exports increased by 105% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

India (X tons) was the main destination for gravel and crushed stone exports from Sri Lanka, with a 98% share of total exports. It was followed by Maldives (X kg), with a 1% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to India stood at -12.3%.

In value terms, India ($X) remains the key foreign market for gravel and crushed stone exports from Sri Lanka, comprising 88% of total exports. The second position in the ranking was held by Maldives ($X), with a 2.7% share of total exports.

From 2012 to 2021, the average annual growth rate of value to India totaled +1.7%.

Export Prices by Country

In 2021, the average gravel and crushed stone export price amounted to $X per ton, shrinking by -33.5% against the previous year. In general, the export price, however, recorded measured growth. The most prominent rate of growth was recorded in 2016 an increase of 82% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2017 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Maldives ($X per ton), while the average price for exports to India stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to India (+16.0%).

Imports of Gravel And Crushed Stone

Imports into Sri Lanka

In 2021, gravel and crushed stone imports into Sri Lanka soared to X tons, growing by 27% against the previous year's figure. Over the period under review, imports continue to indicate a prominent increase. The pace of growth appeared the most rapid in 2014 when imports increased by 490%. Imports peaked at X tons in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, gravel and crushed stone imports soared to $X in 2021. Overall, imports showed strong growth. The growth pace was the most rapid in 2014 with an increase of 580% against the previous year. Over the period under review, imports attained the maximum at $X in 2016; however, from 2017 to 2021, imports remained at a lower figure.

Imports by Country

Italy (X tons), Malaysia (X tons) and India (X tons) were the main suppliers of gravel and crushed stone imports to Sri Lanka, together comprising 41% of total imports. These countries were followed by Pakistan, Vietnam, Thailand and Jordan, which together accounted for a further 25%.

From 2012 to 2021, the biggest increases were recorded for Pakistan (with a CAGR of +268.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), Malaysia ($X) and India ($X) constituted the largest gravel and crushed stone suppliers to Sri Lanka, with a combined 43% share of total imports. These countries were followed by Vietnam, Pakistan, Thailand and Jordan, which together accounted for a further 20%.

Pakistan, with a CAGR of +391.7%, recorded the highest rates of growth with regard to 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

The average gravel and crushed stone import price stood at $X per ton in 2021, surging by 3.8% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of 31% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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 Malaysia ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Pakistan (+33.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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