Sri Lanka: Market for Indicator Panels Incorporating Liquid Crystal Devices (LCD) Or Light Emitting Diodes (LCD) 2024

Market Size for Indicator Panels Incorporating Liquid Crystal Devices (LCD) Or Light Emitting Diodes (LCD) in Sri Lanka

The Sri Lankan market for indicator panels incorporating liquid crystal devices (LCD) or light emitting diodes (LCD) surged to $X in 2021, increasing by 79% 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, showed a perceptible shrinkage. Consumption peaked at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Exports of Indicator Panels Incorporating Liquid Crystal Devices (LCD) Or Light Emitting Diodes (LCD)

Exports from Sri Lanka

LCD or LED indicator panel exports from Sri Lanka surged to X units in 2021, rising by 78% against 2020. In general, exports, however, recorded a dramatic downturn. The pace of growth was the most pronounced in 2016 when exports increased by 267%. The exports peaked at X units in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, LCD or LED indicator panel exports skyrocketed to $X in 2021. Overall, exports, however, saw a abrupt shrinkage. The pace of growth was the most pronounced in 2016 with an increase of 378%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Australia (X units) was the main destination for LCD or LED indicator panel exports from Sri Lanka, accounting for a 58% share of total exports. Moreover, LCD or LED indicator panel exports to Australia exceeded the volume sent to the second major destination, Malaysia (X units), threefold. The third position in this ranking was taken by Maldives (X units), with a 5.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Australia totaled +1.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+38.9% per year) and Maldives (+32.8% per year).

In value terms, Malaysia ($X) remains the key foreign market for LCD or LED indicator panel exports from Sri Lanka, comprising 50% of total exports. The second position in the ranking was taken by Australia ($X), with a 21% share of total exports. It was followed by Maldives, with a 6.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Malaysia amounted to +26.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+2.6% per year) and Maldives (+19.8% per year).

Export Prices by Country

In 2021, the average export price for indicator panels incorporating liquid crystal devices (LCD) or light emitting diodes (LCD) amounted to $X per unit, shrinking by -14.5% against the previous year. Over the period under review, the export price, however, showed prominent growth. The growth pace was the most rapid in 2014 an increase of 124% against the previous year. The export price peaked at $X per unit in 2016; however, from 2017 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was the UK ($X per unit), while the average price for exports to the United Arab Emirates ($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 (+32.8%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Indicator Panels Incorporating Liquid Crystal Devices (LCD) Or Light Emitting Diodes (LCD)

Imports into Sri Lanka

LCD or LED indicator panel imports into Sri Lanka skyrocketed to X units in 2021, picking up by 146% compared with the year before. Over the period under review, imports, however, showed a abrupt shrinkage. The pace of growth appeared the most rapid in 2013 when imports increased by 150% against the previous year. As a result, imports reached the peak of X units. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, LCD or LED indicator panel imports skyrocketed to $X in 2021. Overall, imports, however, continue to indicate a noticeable reduction. The pace of growth appeared the most rapid in 2019 with an increase of 99% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X units) constituted the largest LCD or LED indicator panel supplier to Sri Lanka, accounting for a 71% share of total imports. Moreover, LCD or LED indicator panel imports from China exceeded the figures recorded by the second-largest supplier, Hong Kong SAR (X units), fourfold. The third position in this ranking was taken by India (X units), with a 3.7% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at -10.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (-1.6% per year) and India (-11.9% per year).

In value terms, China ($X) constituted the largest supplier of LCD or LED indicator panel to Sri Lanka, comprising 46% of total imports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 6.5% share of total imports. It was followed by India, with a 5.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled -3.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (-3.4% per year) and India (-3.6% per year).

Import Prices by Country

In 2021, the average import price for indicator panels incorporating liquid crystal devices (LCD) or light emitting diodes (LCD) amounted to $X per unit, waning by -36.5% against the previous year. In general, the import price, however, enjoyed buoyant growth. The most prominent rate of growth was recorded in 2014 an increase of 62% against the previous year. The import price peaked at $X per unit in 2020, and then dropped sharply in the following year.

Prices varied noticeably country of origin: the country with the highest price was the United States ($X per unit), while the price for Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+9.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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