Sri Lanka: Meat-Preparation Industrial Machinery Market 2024

Meat-Preparation Industrial Machinery Market Size in Sri Lanka

In 2022, after three years of growth, there was significant decline in the Sri Lankan meat-preparation industrial machinery market, when its value decreased by -59.4% to $X. In general, consumption recorded a abrupt decline. Meat-preparation industrial machinery consumption peaked at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Meat-Preparation Industrial Machinery Exports

Exports from Sri Lanka

In 2022, the amount of industrial machinery for the preparation of meat or poultry exported from Sri Lanka surged to X units, increasing by 150% compared with 2021 figures. Over the period under review, exports continue to indicate prominent growth. The growth pace was the most rapid in 2014 when exports increased by 575%. Over the period under review, the exports hit record highs at X units in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, meat-preparation industrial machinery exports soared to $X in 2022. In general, exports showed strong growth. The most prominent rate of growth was recorded in 2017 when exports increased by 1,205%. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

Maldives (X units) and the UK (X units) were the main destinations of meat-preparation industrial machinery exports from Sri Lanka.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Maldives (with a CAGR of +19.6%).

In value terms, Maldives ($X) emerged as the key foreign market for industrial machinery for the preparation of meat or poultry exports from Sri Lanka, comprising 80% of total exports. The second position in the ranking was held by the UK ($X), with a 20% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Maldives amounted to +12.2%.

Export Prices by Country

In 2022, the average meat-preparation industrial machinery export price amounted to $X per unit, surging by 148% against the previous year. In general, the export price, however, recorded a noticeable downturn. The most prominent rate of growth was recorded in 2015 when the average export price increased by 695% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2016 to 2022, the average export prices failed to regain momentum.

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 the UK totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to France (+94.4%), while the prices for the other major destinations experienced a decline.

Meat-Preparation Industrial Machinery Imports

Imports into Sri Lanka

In 2022, after three years of growth, there was significant decline in supplies from abroad of industrial machinery for the preparation of meat or poultry, when their volume decreased by -56.8% to X units. Over the period under review, imports recorded a deep setback. The pace of growth was the most pronounced in 2017 with an increase of 161% against the previous year. As a result, imports attained the peak of X units. From 2018 to 2022, the growth of imports remained at a lower figure.

In value terms, meat-preparation industrial machinery imports shrank markedly to $X in 2022. In general, imports recorded a abrupt setback. The pace of growth was the most pronounced in 2016 with an increase of 329%. Over the period under review, imports attained the peak figure at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of meat-preparation industrial machinery to Sri Lanka, with a 64% share of total imports. Moreover, meat-preparation industrial machinery imports from China exceeded the figures recorded by the second-largest supplier, Italy (X units), fivefold. The third position in this ranking was taken by Romania (X units), with a 6.2% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled -10.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+9.1% per year) and Romania (+0.3% per year).

In value terms, France ($X) constituted the largest supplier of industrial machinery for the preparation of meat or poultry to Sri Lanka, comprising 28% of total imports. The second position in the ranking was held by China ($X), with an 11% share of total imports. It was followed by Romania, with a 9.9% share.

From 2012 to 2022, the average annual growth rate of value from France amounted to +15.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-13.0% per year) and Romania (-4.6% per year).

Import Prices by Country

In 2022, the average meat-preparation industrial machinery import price amounted to $X per unit, shrinking by -31.5% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the average import price increased by 228%. The import price peaked at $X per unit in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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 France ($X per unit), while the price for China ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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