Sri Lanka: Market for Lathes For Removing Metal 2024

Market Size for Lathes For Removing Metal in Sri Lanka

In 2021, after two years of decline, there was significant growth in the Sri Lankan lathe for removing metal market, when its value increased by 69% to $X. In general, consumption enjoyed a significant increase. Lathe for removing metal consumption peaked at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Exports of Lathes For Removing Metal

Exports from Sri Lanka

In 2021, overseas shipments of lathes for removing metal decreased by 0% to X units, falling for the second year in a row after two years of growth. Overall, exports faced a dramatic curtailment. The most prominent rate of growth was recorded in 2019 when exports increased by 167%. The exports peaked at X units in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, lathe for removing metal exports skyrocketed to $X in 2021. In general, exports saw a sharp downturn. The growth pace was the most rapid in 2015 when exports increased by 407% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Germany (X units), Sweden (X units) and India (X units) were the main destinations of lathe for removing metal exports from Sri Lanka, with a combined 67% share of total exports. Moreover, lathe for removing metal exports in Germany exceeded the figures recorded by the second-largest exporter, Sweden, twofold.

From 2012 to 2021, the biggest increases were recorded for Sweden (with a CAGR of 0.0%), while shipments for the other leaders experienced a decline.

In value terms, the UK ($X) remains the key foreign market for lathes for removing metal exports from Sri Lanka, comprising 71% of total exports. The second position in the ranking was held by Germany ($X), with a 10% share of total exports. It was followed by Sweden, with a 7.9% share.

From 2012 to 2021, the average annual growth rate of value to the UK totaled -24.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-12.0% per year) and Sweden (-13.4% per year).

Export Prices by Country

The average lathe for removing metal export price stood at $X per unit in 2021, picking up by 63% against the previous year. Overall, the export price, however, recorded a pronounced decline. The pace of growth appeared the most rapid in 2015 when the average export price increased by 160% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per unit in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per unit), while the average price for exports to India ($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 United States (+24.7%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Lathes For Removing Metal

Imports into Sri Lanka

In 2021, supplies from abroad of lathes for removing metal increased by 71% to X units for the first time since 2018, thus ending a two-year declining trend. In general, imports, however, continue to indicate a noticeable setback. The pace of growth was the most pronounced in 2014 with an increase of 91% against the previous year. Imports peaked at X units in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, lathe for removing metal imports skyrocketed to $X in 2021. Overall, imports, however, continue to indicate a abrupt downturn. The growth pace was the most rapid in 2014 when imports increased by 118%. Imports peaked at $X in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X units) constituted the largest supplier of lathe for removing metal to Sri Lanka, accounting for a 41% share of total imports. Moreover, lathe for removing metal imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), threefold. South Korea (X units) ranked third in terms of total imports with a 12% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +26.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-8.5% per year) and South Korea (+14.9% per year).

In value terms, the largest lathe for removing metal suppliers to Sri Lanka were China ($X), Japan ($X) and Denmark ($X), together accounting for 39% of total imports. These countries were followed by South Korea, Taiwan (Chinese), France, Bulgaria, the UK, Singapore, Italy, India, Malaysia and the United Arab Emirates, which together accounted for a further 34%.

Among the main suppliers, France, with a CAGR of +50.4%, recorded the highest rates of growth with regard to 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 lathe for removing metal import price stood at $X per unit in 2021, waning by -24.1% against the previous year. In general, the import price saw a deep contraction. The growth pace was the most rapid in 2013 an increase of 54%. The import price peaked at $X per unit in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Denmark ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Denmark (+14.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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