Sri Lanka: Market for Jute And Jute-Like Fibers 2025

Market Size for Jute And Jute-Like Fibers in Sri Lanka

In 2022, the Sri Lankan jute and jute-like fibers market increased by 200% to $X, rising for the second year in a row after three years of decline. Overall, consumption showed resilient growth. Jute and jute-like fibers consumption peaked at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Production of Jute And Jute-Like Fibers in Sri Lanka

In value terms, jute and jute-like fibers production amounted to $X in 2022 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with a decrease of -50%. Jute and jute-like fibers production peaked at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

The average yield of jute and jute-like fibers in Sri Lanka totaled less than X kg per ha in 2022, remaining stable against the previous year. Over the period under review, the yield continues to indicate a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of jute and jute-like fibers production in Sri Lanka totaled less than X ha, approximately mirroring 2021. Over the period under review, the harvested area showed a relatively flat trend pattern.

Exports of Jute And Jute-Like Fibers

Exports from Sri Lanka

In 2022, shipments abroad of jute and jute-like fibers decreased by -19.6% to X tons, falling for the second year in a row after four years of growth. In general, exports, however, showed significant growth. The pace of growth was the most pronounced in 2018 with an increase of 1,613%. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, jute and jute-like fibers exports contracted remarkably to $X in 2022. Overall, exports, however, posted significant growth. The pace of growth appeared the most rapid in 2013 when exports increased by 2,454% against the previous year. Over the period under review, the exports hit record highs at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for jute and jute-like fibers exports from Sri Lanka, accounting for a 67% share of total exports. Moreover, jute and jute-like fibers exports to the United States exceeded the volume sent to the second major destination, Hong Kong SAR (X tons), twofold.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States totaled +122.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (-20.3% per year) and Maldives (+99.8% per year).

In value terms, the United States ($X) remains the key foreign market for jute and jute-like fibers exports from Sri Lanka, comprising 74% of total exports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 24% share of total exports.

From 2012 to 2022, the average annual growth rate of value to the United States totaled +116.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (-25.5% per year) and Maldives (+50.1% per year).

Export Prices by Country

In 2022, the average jute and jute-like fibers export price amounted to $X per ton, almost unchanged from the previous year. Overall, the export price recorded prominent growth. The most prominent rate of growth was recorded in 2013 when the average export price increased by 198%. Over the period under review, the average export prices attained the maximum at $X per ton in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Africa (+18.0%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Jute And Jute-Like Fibers

Imports into Sri Lanka

Jute and jute-like fibers imports into Sri Lanka skyrocketed to X tons in 2022, rising by 21% against the previous year. Overall, imports recorded a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of 260% against the previous year. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, jute and jute-like fibers imports stood at $X in 2022. Over the period under review, imports posted a prominent increase. The most prominent rate of growth was recorded in 2013 with an increase of 164% against the previous year. Imports peaked at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Bangladesh (X tons) was the main jute and jute-like fibers supplier to Sri Lanka, accounting for a 94% share of total imports. Moreover, jute and jute-like fibers imports from Bangladesh exceeded the figures recorded by the second-largest supplier, China (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from Bangladesh stood at +26.1%.

In value terms, Bangladesh ($X) constituted the largest supplier of jute and jute-like fibers to Sri Lanka, comprising 94% of total imports. The second position in the ranking was held by China ($X), with a 5.5% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Bangladesh amounted to +20.9%.

Import Prices by Country

The average jute and jute-like fibers import price stood at $X per ton in 2022, waning by -5.1% against the previous year. Over the period under review, the import price recorded a drastic downturn. The pace of growth appeared the most rapid in 2017 when the average import price increased by 47%. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while the price for Bangladesh amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bangladesh (-4.1%).

Source: IndexBox Platform

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