Sri Lanka: Market for Non-Numerically Controlled Sharpening Machines For Working Metal 2024

Market Size for Non-Numerically Controlled Sharpening Machines For Working Metal in Sri Lanka

In 2022, the Sri Lankan non-numerically controlled sharpening machine market increased by 84% to $X, rising for the third year in a row after two years of decline. Overall, consumption, however, recorded a deep contraction. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Exports of Non-Numerically Controlled Sharpening Machines For Working Metal

Exports from Sri Lanka

In 2022, exports of non-numerically controlled sharpening machines for working metal from Sri Lanka soared to X units, increasing by 89% on the previous year. In general, exports recorded a remarkable increase. The most prominent rate of growth was recorded in 2021 with an increase of 280% against the previous year. The exports peaked at X units in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, non-numerically controlled sharpening machine exports skyrocketed to $X in 2022. Overall, exports recorded a buoyant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Indonesia (X units) was the main destination for non-numerically controlled sharpening machine exports from Sri Lanka, with a 83% share of total exports. Moreover, non-numerically controlled sharpening machine exports to Indonesia exceeded the volume sent to the second major destination, Bahrain (X units), more than tenfold. The third position in this ranking was held by Australia (X units), with a 2.8% share.

From 2012 to 2022, the average annual growth rate of volume to Indonesia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Bahrain (0.0% per year) and Australia (0.0% per year).

In value terms, Singapore ($X) emerged as the key foreign market for non-numerically controlled sharpening machines for working metal exports from Sri Lanka, comprising 98% of total exports. The second position in the ranking was held by Indonesia ($X), with a 0.5% share of total exports. It was followed by Maldives, with a 0.4% share.

From 2012 to 2022, the average annual growth rate of value to Singapore was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (0.0% per year) and Maldives (+52.3% per year).

Export Prices by Country

The average non-numerically controlled sharpening machine export price stood at $X per unit in 2022, rising by 447% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Maldives (+52.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Non-Numerically Controlled Sharpening Machines For Working Metal

Imports into Sri Lanka

In 2022, supplies from abroad of non-numerically controlled sharpening machines for working metal increased by 136% to X units, rising for the third year in a row after two years of decline. Overall, imports, however, recorded a abrupt shrinkage. Over the period under review, imports attained the maximum at X units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, non-numerically controlled sharpening machine imports reduced rapidly to $X in 2022. In general, imports, however, faced a abrupt slump. The pace of growth appeared the most rapid in 2016 when imports increased by 155%. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest supplier of non-numerically controlled sharpening machine to Sri Lanka, accounting for a 89% share of total imports. Moreover, non-numerically controlled sharpening machine imports from China exceeded the figures recorded by the second-largest supplier, Singapore (X units), more than tenfold. Italy (X units) ranked third in terms of total imports with a 2.9% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at -4.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+13.6% per year) and Italy (+17.1% per year).

In value terms, China ($X) constituted the largest supplier of non-numerically controlled sharpening machines for working metal to Sri Lanka, comprising 45% of total imports. The second position in the ranking was taken by Singapore ($X), with a 13% share of total imports. It was followed by Italy, with a 10% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to -8.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+13.7% per year) and Italy (+20.3% per year).

Import Prices by Country

The average non-numerically controlled sharpening machine import price stood at $X per unit in 2022, which is down by -81.1% against the previous year. In general, the import price faced a abrupt slump. The most prominent rate of growth was recorded in 2016 an increase of 133% against the previous year. Over the period under review, average import prices reached the maximum at $X per unit in 2019; however, from 2020 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 Poland ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+11.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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