Sri Lanka: Leather Sports Gloves Market 2024

Leather Sports Gloves Market Size in Sri Lanka

The Sri Lankan leather sports gloves market skyrocketed to $X in 2022, rising by 40% against the previous year. In general, the total consumption indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs in 2022 and is likely to continue growth in the near future.

Leather Sports Gloves Production in Sri Lanka

In value terms, leather sports gloves production reached $X in 2022 estimated in export price. Over the period under review, the total production indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -3.6% against 2020 indices. The pace of growth appeared the most rapid in 2015 with an increase of 39%. Leather sports gloves production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Leather Sports Gloves Exports

Exports from Sri Lanka

In 2022, exports of leather sports gloves, mittens and mitts from Sri Lanka fell remarkably to X units, dropping by -84.9% on 2021. Overall, exports continue to indicate a deep downturn. The pace of growth appeared the most rapid in 2021 with an increase of 66% against the previous year. The exports peaked at X units in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, leather sports gloves exports fell remarkably to $X in 2022. Over the period under review, exports saw a abrupt decline. The most prominent rate of growth was recorded in 2015 when exports increased by 60%. Over the period under review, the exports hit record highs at $X in 2021, and then dropped sharply in the following year.

Exports by Country

The United States (X units) was the main destination for leather sports gloves exports from Sri Lanka, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to the United States amounted to -12.7%.

In value terms, the United States ($X) also remains the key foreign market for leather sports gloves, mittens and mitts exports from Sri Lanka.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to -7.2%.

Export Prices by Country

The average leather sports gloves export price stood at $X per unit in 2022, growing by 15% against the previous year. In general, the export price continues to indicate prominent growth. The most prominent rate of growth was recorded in 2015 an increase of 85% against the previous year. Over the period under review, the average export prices reached the maximum in 2022 and is expected to retain growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2012 to 2022, the rate of growth in terms of prices for India amounted to +6.8% per year.

Leather Sports Gloves Imports

Imports into Sri Lanka

In 2022, the amount of leather sports gloves, mittens and mitts imported into Sri Lanka declined notably to X units, dropping by -85.4% compared with the previous year. In general, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 when imports increased by 280% against the previous year. Over the period under review, imports attained the maximum at X units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, leather sports gloves imports contracted rapidly to $X in 2022. Overall, imports saw a abrupt decrease. The pace of growth was the most pronounced in 2013 when imports increased by 226%. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, India (X units) constituted the largest supplier of leather sports gloves to Sri Lanka, accounting for a 71% share of total imports. Moreover, leather sports gloves imports from India exceeded the figures recorded by the second-largest supplier, China (X units), sixfold. The third position in this ranking was taken by Indonesia (X units), with a 9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from India totaled -9.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+8.3% per year) and Indonesia (+7.7% per year).

In value terms, India ($X), Indonesia ($X) and China ($X) were the largest leather sports gloves suppliers to Sri Lanka, together comprising 81% of total imports.

In terms of the main suppliers, China, with a CAGR of +10.5%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average leather sports gloves import price stood at $X per unit in 2022, reducing by -24.4% against the previous year. Over the period under review, the import price continues to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2014 an increase of 55%. As a result, import price reached the peak level of $X per unit. From 2015 to 2022, the average import prices remained at a lower figure.

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 Pakistan ($X per unit), while the price for India ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+2.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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