Sri Lanka: Loudspeaker Market 2025

Loudspeaker Market Size in Sri Lanka

The Sri Lankan loudspeaker market shrank notably to $X in 2022, reducing by -54.4% 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). Overall, consumption saw a deep downturn. Loudspeaker consumption peaked at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Loudspeaker Exports

Exports from Sri Lanka

In 2022, loudspeaker exports from Sri Lanka contracted rapidly to X units, which is down by -79.4% against 2021 figures. Over the period under review, exports saw a deep downturn. The pace of growth appeared the most rapid in 2021 when exports increased by 3,236% against the previous year. As a result, the exports reached the peak of X units, and then contracted remarkably in the following year.

In value terms, loudspeaker exports contracted to $X in 2022. Overall, exports, however, showed a prominent increase. The most prominent rate of growth was recorded in 2021 with an increase of 576% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

Maldives (X units) was the main destination for loudspeaker exports from Sri Lanka, accounting for a 57% share of total exports. Moreover, loudspeaker exports to Maldives exceeded the volume sent to the second major destination, China (X units), threefold. The third position in this ranking was held by Zimbabwe (X units), with an 8.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Maldives amounted to +2.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+113.0% per year) and Zimbabwe (0.0% per year).

In value terms, Maldives ($X) remains the key foreign market for loudspeakers exports from Sri Lanka, comprising 76% of total exports. The second position in the ranking was taken by Zimbabwe ($X), with a 7.1% share of total exports. It was followed by Malaysia, with a 3.5% share.

From 2012 to 2022, the average annual growth rate of value to Maldives totaled +8.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Zimbabwe (0.0% per year) and Malaysia (+138.1% per year).

Export Prices by Country

The average loudspeaker export price stood at $X per unit in 2022, with an increase of 326% against the previous year. Overall, the export price showed a buoyant increase. The export price peaked at $X per unit in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Australia ($X per unit), while the average price for exports to China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Myanmar (+1,279.2%), while the prices for the other major destinations experienced more modest paces of growth.

Loudspeaker Imports

Imports into Sri Lanka

In 2022, approx. X units of loudspeakers were imported into Sri Lanka; which is down by -54.3% against 2021 figures. Overall, imports continue to indicate a pronounced shrinkage. The most prominent rate of growth was recorded in 2014 when imports increased by 166%. Over the period under review, imports attained the maximum at X units in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, loudspeaker imports fell notably to $X in 2022. Over the period under review, imports saw a drastic downturn. The growth pace was the most rapid in 2014 with an increase of 96%. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) was the main supplier of loudspeaker to Sri Lanka, accounting for a 93% share of total imports. It was followed by India (X units), with a 2.7% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at -3.8%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-6.0% per year) and Hong Kong SAR (-19.5% per year).

In value terms, China ($X) constituted the largest supplier of loudspeakers to Sri Lanka, comprising 66% of total imports. The second position in the ranking was held by India ($X), with a 12% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at -8.2%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-11.0% per year) and Hong Kong SAR (-16.6% per year).

Import Prices by Country

The average loudspeaker import price stood at $X per unit in 2022, with a decrease of -3.5% against the previous year. Over the period under review, the import price continues to indicate a drastic downturn. The pace of growth was the most pronounced in 2018 when the average import price increased by 353%. As a result, import price attained the peak level of $X per unit. From 2019 to 2022, the average import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+3.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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