Sri Lanka: Market for Mechanical Appliances For Projecting, Dispersing Or Spraying 2024

Market Size for Mechanical Appliances For Projecting, Dispersing Or Spraying in Sri Lanka

The Sri Lankan market for mechanical appliances for projecting, dispersing or spraying fell notably to $X in 2022, shrinking by -47.5% 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). Over the period under review, consumption, however, continues to indicate tangible growth. Consumption of peaked at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Exports of Mechanical Appliances For Projecting, Dispersing Or Spraying

Exports from Sri Lanka

In 2022, the amount of mechanical appliances for projecting, dispersing or spraying exported from Sri Lanka fell significantly to X units, shrinking by -80.3% against the previous year. In general, exports saw a perceptible decline. The most prominent rate of growth was recorded in 2016 when exports increased by 1,624%. Over the period under review, the exports of reached the peak figure at X units in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, exports of mechanical appliances for projecting, dispersing or spraying fell dramatically to $X in 2022. Overall, exports recorded a noticeable reduction. The most prominent rate of growth was recorded in 2016 when exports increased by 1,169% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Vietnam (X units) was the main destination for exports of mechanical appliances for projecting, dispersing or spraying from Sri Lanka, with a 83% share of total exports. Moreover, exports of mechanical appliances for projecting, dispersing or spraying to Vietnam exceeded the volume sent to the second major destination, Maldives (X units), fivefold.

From 2012 to 2022, the average annual growth rate of volume to Vietnam stood at +29.7%.

In value terms, Vietnam ($X) emerged as the key foreign market for mechanical appliances for projecting, dispersing or spraying exports from Sri Lanka, comprising 83% of total exports. The second position in the ranking was taken by Maldives ($X), with a 16% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Vietnam amounted to +22.6%.

Export Prices by Country

In 2022, the average export price for mechanical appliances for projecting, dispersing or spraying amounted to $X per unit, rising by 50% against the previous year. Over the period under review, the export price, however, showed a mild curtailment. Over the period under review, the average export prices reached the maximum at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($X per unit), while the average price for exports to Maldives stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (-5.5%), while the prices for the other major destinations experienced a decline.

Imports of Mechanical Appliances For Projecting, Dispersing Or Spraying

Imports into Sri Lanka

In 2022, imports of mechanical appliances for projecting, dispersing or spraying into Sri Lanka shrank remarkably to X units, reducing by -50.8% compared with the previous year's figure. Overall, imports, however, posted noticeable growth. The most prominent rate of growth was recorded in 2013 when imports increased by 182%. Over the period under review, imports of reached the peak figure at X units in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, imports of mechanical appliances for projecting, dispersing or spraying shrank dramatically to $X in 2022. In general, imports, however, continue to indicate temperate growth. The most prominent rate of growth was recorded in 2013 when imports increased by 189% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest supplier of mechanical appliances for projecting, dispersing or spraying to Sri Lanka, with a 60% share of total imports. Moreover, imports of mechanical appliances for projecting, dispersing or spraying from China exceeded the figures recorded by the second-largest supplier, the United States (X units), sevenfold. Italy (X units) ranked third in terms of total imports with a 7.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +8.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+23.7% per year) and Italy (+7.2% per year).

In value terms, China ($X) constituted the largest supplier of mechanical appliances for projecting, dispersing or spraying to Sri Lanka, comprising 60% of total imports. The second position in the ranking was taken by the United States ($X), with an 8.1% share of total imports. It was followed by Italy, with a 7.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +11.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+26.4% per year) and Italy (+9.5% per year).

Import Prices by Country

The average import price for mechanical appliances for projecting, dispersing or spraying stood at $X per unit in 2022, with an increase of 8% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.7%. The growth pace was the most rapid in 2015 an increase of 11% against the previous year. The import price peaked in 2022 and is expected to retain growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+2.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :