Sri Lanka: Market for Non-Electronic Hydro-, Hygro-, Psychrometers 2025

Market Size for Non-Electronic Hydro-, Hygro-, Psychrometers in Sri Lanka

After three years of growth, the Sri Lankan non-electronic hydro- and hygrometers market decreased by -8.4% to $X in 2021. Over the period under review, consumption, however, recorded a buoyant expansion. Over the period under review, the market hit record highs at $X in 2020, and then dropped in the following year.

Exports of Non-Electronic Hydro-, Hygro-, Psychrometers

Exports from Sri Lanka

In 2021, shipments abroad of non-electronic hydro-, hygro-, psychrometers increased by 86% to X units, rising for the third year in a row after two years of decline. In general, exports, however, showed a abrupt contraction. The most prominent rate of growth was recorded in 2016 when exports increased by 595% against the previous year. As a result, the exports reached the peak of X units. From 2017 to 2021, the growth of the exports remained at a lower figure.

In value terms, non-electronic hydro- and hygrometers exports skyrocketed to $X in 2021. Overall, exports, however, showed a deep contraction. The most prominent rate of growth was recorded in 2016 with an increase of 620% against the previous year. As a result, the exports attained the peak of $X. From 2017 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

The United States (X units), Cambodia (X units) and Kuwait (X units) were the main destinations of non-electronic hydro- and hygrometers exports from Sri Lanka, together accounting for 59% of total exports. Australia, Switzerland, Germany, Taiwan (Chinese), Vietnam, Russia, the Netherlands, Japan, South Korea and Italy lagged somewhat behind, together comprising a further 31%.

From 2012 to 2021, the biggest increases were recorded for Australia (with a CAGR of +13.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for non-electronic hydro-, hygro-, psychrometers exports from Sri Lanka, comprising 51% of total exports. The second position in the ranking was taken by Germany ($X), with a 9.1% share of total exports. It was followed by Taiwan (Chinese), with a 7.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States amounted to +21.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-7.0% per year) and Taiwan (Chinese) (-18.3% per year).

Export Prices by Country

The average non-electronic hydro- and hygrometers export price stood at $X per unit in 2021, dropping by -4.7% against the previous year. In general, export price indicated a slight expansion from 2012 to 2021: its price increased at an average annual rate of +1.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, non-electronic hydro- and hygrometers export price increased by +58.8% against 2017 indices. The most prominent rate of growth was recorded in 2014 an increase of 54% against the previous year. The export price peaked at $X per unit in 2020, and then contracted slightly in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+50.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Non-Electronic Hydro-, Hygro-, Psychrometers

Imports into Sri Lanka

In 2021, after three years of growth, there was significant decline in purchases abroad of non-electronic hydro-, hygro-, psychrometers, when their volume decreased by -12% to X units. In general, imports, however, recorded a strong expansion. The pace of growth appeared the most rapid in 2015 when imports increased by 170% against the previous year. Imports peaked at X units in 2020, and then shrank in the following year.

In value terms, non-electronic hydro- and hygrometers imports fell to $X in 2021. Overall, imports, however, showed a resilient increase. The most prominent rate of growth was recorded in 2015 with an increase of 121%. Over the period under review, imports attained the maximum at $X in 2020, and then reduced in the following year.

Imports by Country

China (X units), India (X units) and the UK (X units) were the main suppliers of non-electronic hydro- and hygrometers imports to Sri Lanka, together accounting for 65% of total imports. Germany, France, Finland, the Netherlands, Hong Kong SAR, Italy, Japan, Singapore, the United Arab Emirates and Luxembourg lagged somewhat behind, together accounting for a further 23%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by France (with a CAGR of +49.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest non-electronic hydro- and hygrometers suppliers to Sri Lanka were India ($X), China ($X) and the UK ($X), together comprising 48% of total imports.

China, with a CAGR of +56.2%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average non-electronic hydro- and hygrometers import price amounted to $X per unit, with an increase of 7.4% against the previous year. In general, import price indicated a modest increase from 2012 to 2021: its price increased at an average annual rate of +1.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 an increase of 38%. The import price peaked at $X per unit in 2018; however, from 2019 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 the United Arab Emirates ($X per unit), while the price for the Netherlands ($X per unit) 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 (+30.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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