Sri Lanka: Luggage Market 2025

Luggage Market Size in Sri Lanka

In 2021, the Sri Lankan luggage market decreased by -21% to $X, falling for the second year in a row after three years of growth. Overall, consumption, however, recorded a prominent expansion. Luggage consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Luggage Production in Sri Lanka

In value terms, luggage production reduced to $X in 2021 estimated in export price. In general, production, however, posted resilient growth. The growth pace was the most rapid in 2016 with an increase of 16% against the previous year. Luggage production peaked at $X in 2020, and then shrank in the following year.

Luggage Exports

Exports from Sri Lanka

Luggage exports from Sri Lanka surged to X tons in 2021, with an increase of 118% compared with 2020. Over the period under review, exports showed strong growth. The pace of growth appeared the most rapid in 2018 with an increase of 151% against the previous year. As a result, the exports reached the peak of X tons. From 2019 to 2021, the growth of the exports failed to regain momentum.

In value terms, luggage exports surged to $X in 2021. Overall, exports recorded temperate growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Oman (X tons) was the main destination for luggage exports from Sri Lanka, with a 49% share of total exports. Moreover, luggage exports to Oman exceeded the volume sent to the second major destination, Germany (X tons), twofold. The third position in this ranking was taken by the UK (X tons), with an 8.5% share.

From 2012 to 2021, the average annual growth rate of volume to Oman amounted to +120.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+34.9% per year) and the UK (+4.4% per year).

In value terms, Germany ($X), the UK ($X) and Australia ($X) constituted the largest markets for luggage exported from Sri Lanka worldwide, together comprising 69% of total exports. These countries were followed by Oman, Austria, the United Arab Emirates, Japan and the United States, which together accounted for a further 14%.

In terms of the main countries of destination, Oman, with a CAGR of +73.2%, saw the highest growth rate of 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 luggage export price stood at $X per ton in 2021, with an increase of 2.5% against the previous year. In general, the export price, however, recorded a abrupt contraction. The pace of growth appeared the most rapid in 2019 an increase of 146%. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Oman ($X per ton) 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 (+3.2%), while the prices for the other major destinations experienced mixed trend patterns.

Luggage Imports

Imports into Sri Lanka

In 2021, luggage imports into Sri Lanka totaled X tons, with an increase of 9.8% compared with 2020. Over the period under review, imports posted a strong increase. The pace of growth was the most pronounced in 2018 when imports increased by 261%. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, luggage imports fell to $X in 2021. In general, imports enjoyed a pronounced increase. The growth pace was the most rapid in 2018 with an increase of 62%. Over the period under review, imports attained the maximum at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of luggage to Sri Lanka, with a 65% share of total imports. Moreover, luggage imports from China exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), sixfold. India (X tons) ranked third in terms of total imports with an 8.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +10.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+21.0% per year) and India (+13.6% per year).

In value terms, China ($X) constituted the largest supplier of luggage and handbags to Sri Lanka, comprising 62% of total imports. The second position in the ranking was held by India ($X), with a 10% share of total imports. It was followed by the United Arab Emirates, with a 9.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +3.3%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+7.5% per year) and the United Arab Emirates (+22.4% per year).

Import Prices by Country

In 2021, the average luggage import price amounted to $X per ton, falling by -15.1% against the previous year. Overall, the import price showed a deep reduction. The pace of growth was the most pronounced in 2020 an increase of 48%. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Turkey ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+1.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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