Sri Lanka: Fruit-Preparation Industrial Machinery Market 2024

Fruit-Preparation Industrial Machinery Market Size in Sri Lanka

In 2021, after three years of decline, there was significant growth in the Sri Lankan fruit-preparation industrial machinery market, when its value increased by 182% to $X. In general, consumption showed a buoyant increase. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market remained at a somewhat lower figure.

Fruit-Preparation Industrial Machinery Exports

Exports from Sri Lanka

In 2021, overseas shipments of industrial machinery for the preparation of fruits, nuts or vegetables increased by 267% to X units for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports, however, saw a significant curtailment. Over the period under review, the exports reached the peak figure at X units in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, fruit-preparation industrial machinery exports skyrocketed to $X in 2021. In general, exports, however, recorded a precipitous decline. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Guatemala (X units) was the main destination for fruit-preparation industrial machinery exports from Sri Lanka, with a 45% share of total exports. Moreover, fruit-preparation industrial machinery exports to Guatemala exceeded the volume sent to the second major destination, Ghana (X units), fivefold. Cote d'Ivoire (X units) ranked third in terms of total exports with a 9.1% share.

From 2012 to 2021, the average annual growth rate of volume to Guatemala stood at +19.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ghana (-22.6% per year) and Cote d'Ivoire (-27.5% per year).

In value terms, Guatemala ($X) emerged as the key foreign market for industrial machinery for the preparation of fruits, nuts or vegetables exports from Sri Lanka, comprising 35% of total exports. The second position in the ranking was held by the Philippines ($X), with a 12% share of total exports. It was followed by Kenya, with a 9.6% share.

From 2012 to 2021, the average annual growth rate of value to Guatemala stood at +13.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (-16.3% per year) and Kenya (-36.6% per year).

Export Prices by Country

The average fruit-preparation industrial machinery export price stood at $X per unit in 2021, declining by -14.9% against the previous year. In general, the export price showed a abrupt contraction. The growth pace was the most rapid in 2016 an increase of 37%. Over the period under review, the average export prices attained the peak figure at $X per unit in 2017; however, from 2018 to 2021, the 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 Mozambique ($X per unit), while the average price for exports to Ghana ($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 Mozambique (+16.2%), while the prices for the other major destinations experienced mixed trend patterns.

Fruit-Preparation Industrial Machinery Imports

Imports into Sri Lanka

After three years of decline, supplies from abroad of industrial machinery for the preparation of fruits, nuts or vegetables increased by 246% to X units in 2021. Overall, imports enjoyed a buoyant increase. Over the period under review, imports reached the maximum at X units in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, fruit-preparation industrial machinery imports skyrocketed to $X in 2021. In general, imports continue to indicate a strong increase. The growth pace was the most rapid in 2017 when imports increased by 143% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, China (X units) constituted the largest fruit-preparation industrial machinery supplier to Sri Lanka, accounting for a 73% share of total imports. Moreover, fruit-preparation industrial machinery imports from China exceeded the figures recorded by the second-largest supplier, India (X units), fourfold. The third position in this ranking was taken by the United States (X units), with a 2.3% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +23.2%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-7.6% per year) and the United States (+3.8% per year).

In value terms, China ($X) constituted the largest supplier of industrial machinery for the preparation of fruits, nuts or vegetables to Sri Lanka, comprising 45% of total imports. The second position in the ranking was taken by the United States ($X), with a 17% share of total imports. It was followed by India, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +23.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+23.3% per year) and India (+4.8% per year).

Import Prices by Country

The average fruit-preparation industrial machinery import price stood at $X per unit in 2021, shrinking by -33.6% against the previous year. Overall, the import price, however, recorded a buoyant increase. The growth pace was the most rapid in 2015 an increase of 137% against the previous year. As a result, import price attained the peak level of $X per unit. From 2016 to 2021, the average import prices remained at a somewhat 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 the United States ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+19.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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