Sri Lanka: Ironing Machine Market 2022

Ironing Machine Market Size in Sri Lanka

In 2021, after two years of growth, there was decline in the Sri Lankan ironing machine market, when its value decreased by -X% to $X. In general, the total consumption indicated a noticeable increase from 2012 to 2021: its value increased at an average annual rate of +X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +X% against 2018 indices. Ironing machine consumption peaked at $X in 2020, and then dropped slightly in the following year.

Ironing Machine Production in Sri Lanka

In value terms, ironing machine production dropped significantly to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a significant expansion. The most prominent rate of growth was recorded in 2020 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X, and then declined dramatically in the following year.

Ironing Machine Exports

Exports from Sri Lanka

In 2021, shipments abroad of ironing machines and presses decreased by -X% to X units, falling for the second consecutive year after eight years of growth. Overall, exports, however, enjoyed a significant increase. The growth pace was the most rapid in 2018 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at X units in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, ironing machine exports fell sharply to $X in 2021. Over the period under review, exports saw a mild slump. The growth pace was the most rapid in 2014 with an increase of X%. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

The UK (X units) was the main destination for ironing machine exports from Sri Lanka, accounting for a X% share of total exports. Moreover, ironing machine exports to the UK exceeded the volume sent to the second major destination, Madagascar (X units), sevenfold. Indonesia (X units) ranked third in terms of total exports with an X% share.

From 2012 to 2021, the average annual growth rate of volume to the UK amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Madagascar (+X% per year) and Indonesia (+X% per year).

In value terms, the UK ($X), Indonesia ($X) and Madagascar ($X) constituted the largest markets for ironing machine exported from Sri Lanka worldwide, together accounting for X% of total exports.

In terms of the main countries of destination, Indonesia, with a CAGR of +X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average ironing machine export price stood at $X per unit in 2021, shrinking by -X% against the previous year. Over the period under review, the export price continues to indicate a sharp descent. The growth pace was the most rapid in 2014 an increase of X% against the previous year. Over the period under review, the average export prices reached the maximum at $X per unit in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Indonesia ($X per unit), while the average price for exports to Kenya ($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 (-X%), while the prices for the other major destinations experienced a decline.

Ironing Machine Imports

Imports into Sri Lanka

In 2021, ironing machine imports into Sri Lanka soared to X units, increasing by X% compared with 2020. Overall, imports showed modest growth. The growth pace was the most rapid in 2019 when imports increased by X%. Imports peaked at X units in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, ironing machine imports shrank to $X in 2021. In general, imports, however, saw a perceptible curtailment. The most prominent rate of growth was recorded in 2019 with an increase of X% 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 ironing machine supplier to Sri Lanka, accounting for a X% share of total imports. Moreover, ironing machine imports from China exceeded the figures recorded by the second-largest supplier, Hong Kong SAR (X units), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (+X% per year) and the UK (+X% per year).

In value terms, the largest ironing machine suppliers to Sri Lanka were China ($X), Hong Kong SAR ($X) and the UK ($X), with a combined X% share of total imports.

In terms of the main suppliers, the UK, with a CAGR of +X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average ironing machine import price stood at $X per unit in 2021, shrinking by -X% against the previous year. In general, the import price recorded a perceptible shrinkage. The most prominent rate of growth was recorded in 2018 an increase of X%. As a result, import price reached the peak level of $X per unit. From 2019 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, the country with the highest price was Hong Kong SAR ($X per unit), while the price for China ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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