Sri Lanka: Metal Domestic Furniture Market 2024

Metal Domestic Furniture Market Size in Sri Lanka

The Sri Lankan metal domestic furniture market dropped sharply to $X in 2022, which is down by X% 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). In general, consumption recorded a pronounced shrinkage. Metal domestic furniture consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Metal Domestic Furniture Exports

Exports from Sri Lanka

In 2022, metal domestic furniture exports from Sri Lanka fell to X tons, approximately equating the previous year's figure. Over the period under review, exports, however, recorded strong growth. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. The exports peaked at X tons in 2021, and then fell slightly in the following year.

In value terms, metal domestic furniture exports plummeted to $X in 2022. In general, exports, however, showed a prominent increase. The growth pace was the most rapid in 2021 when exports increased by X%. As a result, the exports attained the peak of $X, and then dropped sharply in the following year.

Exports by Country

India (X tons) was the main destination for metal domestic furniture exports from Sri Lanka, accounting for a X% share of total exports. Moreover, metal domestic furniture exports to India exceeded the volume sent to the second major destination, Kenya (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to India stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kenya (X.6% per year) and Maldives (X% per year).

In value terms, India ($X) remains the key foreign market for metal furniture exports from Sri Lanka, comprising X% of total exports. The second position in the ranking was held by Maldives ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to India stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Maldives (X% per year) and Kenya (X.8% per year).

Export Prices by Country

In 2022, the average metal domestic furniture export price amounted to $X per ton, with a decrease of X% against the previous year. Over the period under review, the export price saw a mild decline. The pace of growth was the most pronounced in 2018 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2021, and then dropped notably in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Maldives ($X per ton), while the average price for exports to Kenya ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Kenya (X.2%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Domestic Furniture Imports

Imports into Sri Lanka

In 2022, the amount of metal furniture imported into Sri Lanka reduced markedly to X tons, shrinking by X% on the previous year's figure. Overall, imports showed a pronounced decrease. The most prominent rate of growth was recorded in 2014 with an increase of X%. Over the period under review, imports attained the maximum at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, metal domestic furniture imports plummeted to $X in 2022. In general, imports continue to indicate a perceptible downturn. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), Turkey (X tons) and Indonesia (X tons) were the main suppliers of metal domestic furniture imports to Sri Lanka, with a combined X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

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

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (X% per year) and India (X% per year).

Import Prices by Country

In 2022, the average metal domestic furniture import price amounted to $X per ton, standing approx. at the previous year. Over the period under review, import price indicated notable growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, metal domestic furniture import price decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2016 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2017 to 2022, the average import prices remained at a somewhat lower figure.

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

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

Source: IndexBox Platform

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