Sri Lanka: Market for Iron Or Steel Parts Of Articulated Link Chain 2024

Market Size for Iron Or Steel Parts Of Articulated Link Chain in Sri Lanka

The Sri Lankan metal link chain parts market declined remarkably to $X in 2021, with a decrease of -79.4% 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). In general, consumption, however, posted a temperate increase. Over the period under review, the market reached the peak level at $X in 2020, and then declined notably in the following year.

Exports of Iron Or Steel Parts Of Articulated Link Chain

Exports from Sri Lanka

In 2021, overseas shipments of iron or steel parts of articulated link chain decreased by -41.2% to X kg for the first time since 2018, thus ending a two-year rising trend. In general, exports saw a pronounced slump. The pace of growth appeared the most rapid in 2017 with an increase of 430% against the previous year. The exports peaked at X kg in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, metal link chain parts exports reduced rapidly to $X in 2021. Overall, exports, however, continue to indicate a measured increase. The growth pace was the most rapid in 2014 when exports increased by 487%. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Colombia (X kg) was the main destination for metal link chain parts exports from Sri Lanka, with a 67% share of total exports. Moreover, metal link chain parts exports to Colombia exceeded the volume sent to the second major destination, Oman (X kg), fourfold. Canada (X kg) ranked third in terms of total exports with a 10% share.

From 2012 to 2021, the average annual growth rate of volume to Colombia stood at +14.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Oman (0.0% per year) and Canada (-37.8% per year).

In value terms, Colombia ($X) remains the key foreign market for iron or steel parts of articulated link chain exports from Sri Lanka, comprising 62% of total exports. The second position in the ranking was taken by Oman ($X), with a 27% share of total exports. It was followed by India, with a 3.5% share.

From 2012 to 2021, the average annual growth rate of value to Colombia totaled +38.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Oman (0.0% per year) and India (-23.0% per year).

Export Prices by Country

The average metal link chain parts export price stood at $X per ton in 2021, rising by 7.2% against the previous year. Over the period under review, export price indicated strong growth from 2012 to 2021: its price increased at an average annual rate of +6.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 when the average export price increased by 91%. The export price peaked at $X per ton in 2016; however, from 2017 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Denmark ($X per ton), while the average price for exports to Canada ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+41.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Iron Or Steel Parts Of Articulated Link Chain

Imports into Sri Lanka

In 2021, approx. X tons of iron or steel parts of articulated link chain were imported into Sri Lanka; falling by -83.2% compared with 2020 figures. In general, imports, however, continue to indicate a moderate increase. The pace of growth appeared the most rapid in 2016 with an increase of 195%. Over the period under review, imports attained the peak figure at X tons in 2020, and then dropped remarkably in the following year.

In value terms, metal link chain parts imports shrank remarkably to $X in 2021. Over the period under review, imports, however, continue to indicate a pronounced increase. The most prominent rate of growth was recorded in 2016 with an increase of 175%. As a result, imports attained the peak of $X. From 2017 to 2021, the growth of imports remained at a lower figure.

Imports by Country

China (X tons), Germany (X tons) and Vietnam (X tons) were the main suppliers of metal link chain parts imports to Sri Lanka, together accounting for 72% of total imports.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +63.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest metal link chain parts suppliers to Sri Lanka were Germany ($X), the UK ($X) and Vietnam ($X), together comprising 67% of total imports.

Vietnam, with a CAGR of +60.9%, 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 metal link chain parts import price stood at $X per ton in 2021, rising by 59% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

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 UK ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+0.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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