Sri Lanka: Market for Machine-Tools For Working Stone, Ceramics, And Concrete 2024

Market Size for Machine-Tools For Working Stone, Ceramics, And Concrete in Sri Lanka

The Sri Lankan market for machine-tools for working stone, ceramics, and concrete reduced sharply to $X in 2022, declining by -71.1% 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 abrupt slump. Machine tools for working stone consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Exports of Machine-Tools For Working Stone, Ceramics, And Concrete

Exports from Sri Lanka

After four years of growth, overseas shipments of machine-tools for working stone, ceramics, and concrete decreased by -95% to X units in 2022. In general, exports saw a abrupt decline. The pace of growth was the most pronounced in 2018 when exports increased by 253%. Over the period under review, the exports hit record highs at X units in 2021, and then shrank rapidly in the following year.

In value terms, machine tools for working stone exports shrank significantly to $X in 2022. Over the period under review, exports faced a precipitous descent. The pace of growth was the most pronounced in 2018 when exports increased by 550%. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Indonesia (X units) was the main destination for machine tools for working stone exports from Sri Lanka, with a 92% share of total exports. Moreover, machine tools for working stone exports to Indonesia exceeded the volume sent to the second major destination, Rwanda (X units), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Indonesia totaled +28.2%.

In value terms, Indonesia ($X) remains the key foreign market for machine-tools for working stone, ceramics, and concrete exports from Sri Lanka, comprising 79% of total exports. The second position in the ranking was taken by Rwanda ($X), with an 11% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Indonesia amounted to +44.2%.

Export Prices by Country

The average export price for machine-tools for working stone, ceramics, and concrete stood at $X per unit in 2022, dropping by -58.6% against the previous year. Overall, the export price continues to indicate a abrupt curtailment. The pace of growth appeared the most rapid in 2018 when the average export price increased by 82%. As a result, the export price reached the peak level of $X per unit. From 2019 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Rwanda ($X per unit), while the average price for exports to Indonesia totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia (+16.1%), while the prices for the other major destinations experienced a decline.

Imports of Machine-Tools For Working Stone, Ceramics, And Concrete

Imports into Sri Lanka

In 2022, the amount of machine-tools for working stone, ceramics, and concrete imported into Sri Lanka shrank sharply to X units, with a decrease of -74.1% on the previous year. In general, imports recorded a deep slump. The pace of growth appeared the most rapid in 2013 when imports increased by 173% against the previous year. Over the period under review, imports reached the peak figure at X units in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, machine tools for working stone imports dropped significantly to $X in 2022. Over the period under review, imports showed a abrupt descent. The most prominent rate of growth was recorded in 2013 when imports increased by 149%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

Singapore (X units), China (X units) and India (X units) were the main suppliers of machine tools for working stone imports to Sri Lanka, with a combined 88% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Singapore (with a CAGR of +44.6%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest machine tools for working stone suppliers to Sri Lanka were Singapore ($X), China ($X) and India ($X), together comprising 88% of total imports.

Singapore, with a CAGR of +42.8%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average import price for machine-tools for working stone, ceramics, and concrete stood at $X per unit in 2022, approximately mirroring the previous year. Overall, the import price, however, recorded a mild setback. The pace of growth appeared the most rapid in 2021 when the average import price increased by 75% against the previous year. Over the period under review, average import prices attained the maximum at $X per unit in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were India ($X per unit) and Japan ($X per unit), while the price for Singapore ($X per unit) and Italy ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (-1.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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