Sri Lanka: Nails And Tacks Market 2025

Nails And Tacks Market Size in Sri Lanka

The Sri Lankan nails and tacks market plummeted to $X in 2022, shrinking by -15.3% 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, however, showed a mild descent. As a result, consumption attained the peak level of $X. From 2016 to 2022, the growth of the market remained at a somewhat lower figure.

Nails And Tacks Exports

Exports from Sri Lanka

Nails and tacks exports from Sri Lanka dropped notably to X tons in 2022, which is down by -86.1% against 2021 figures. Overall, exports, however, saw strong growth. The pace of growth was the most pronounced in 2013 when exports increased by 969%. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, nails and tacks exports shrank rapidly to $X in 2022. Over the period under review, exports, however, saw a perceptible increase. The most prominent rate of growth was recorded in 2013 with an increase of 1,356%. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Bangladesh (X kg), Pakistan (X kg) and Seychelles (X kg) were the main destinations of nails and tacks exports from Sri Lanka, together accounting for 85% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Seychelles (with a CAGR of +75.3%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for nails and tacks exported from Sri Lanka were Bangladesh ($X), Pakistan ($X) and Maldives ($X), together accounting for 90% of total exports. American Samoa, India and Seychelles lagged somewhat behind, together comprising a further 8.2%.

Among the main countries of destination, Seychelles, with a CAGR of +48.9%, recorded 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 nails and tacks export price stood at $X per ton in 2022, with an increase of 12% against the previous year. Overall, the export price, however, saw a abrupt shrinkage. The pace of growth was the most pronounced in 2016 an increase of 292%. As a result, the export price attained the peak level of $X per ton. From 2017 to 2022, the average 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 American Samoa ($X per ton), while the average price for exports to Seychelles ($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 Italy (+5.2%), while the prices for the other major destinations experienced a decline.

Nails And Tacks Imports

Imports into Sri Lanka

Nails and tacks imports into Sri Lanka expanded rapidly to X tons in 2022, picking up by 11% on the year before. In general, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when imports increased by 35% against the previous year. As a result, imports reached the peak of X tons. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, nails and tacks imports plummeted to $X in 2022. Overall, imports, however, continue to indicate a pronounced decrease. The most prominent rate of growth was recorded in 2015 when imports increased by 51%. As a result, imports reached the peak of $X. From 2016 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of nails and tacks to Sri Lanka, accounting for a 88% share of total imports. Moreover, nails and tacks imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), ninefold.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +1.7%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-0.5% per year) and Hong Kong SAR (-35.0% per year).

In value terms, China ($X) constituted the largest supplier of nails, tacks, drawing pins, corrugated nails, staples to Sri Lanka, comprising 73% of total imports. The second position in the ranking was taken by India ($X), with an 18% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: India (+0.0% per year) and Hong Kong SAR (-36.8% per year).

Import Prices by Country

The average nails and tacks import price stood at $X per ton in 2022, declining by -38.2% against the previous year. Over the period under review, the import price recorded a slight descent. The most prominent rate of growth was recorded in 2013 an increase of 25% against the previous year. The import price peaked at $X per ton in 2017; however, from 2018 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was India ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+0.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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