Sri Lanka: Market for Numerically Controlled Drilling Machines For Working Metal 2024

Market Size for Numerically Controlled Drilling Machines For Working Metal in Sri Lanka

In 2021, the Sri Lankan numerically controlled drilling machine market decreased by -4.6% to $X for the first time since 2016, thus ending a four-year rising trend. In general, consumption, however, continues to indicate a resilient expansion. Numerically controlled drilling machine consumption peaked at $X in 2020, and then shrank modestly in the following year.

Production of Numerically Controlled Drilling Machines For Working Metal in Sri Lanka

In value terms, numerically controlled drilling machine production contracted to $X in 2021 estimated in export price. In general, production, however, recorded a strong expansion. The pace of growth appeared the most rapid in 2018 with an increase of 65% against the previous year. Numerically controlled drilling machine production peaked at $X in 2020, and then dropped in the following year.

Exports of Numerically Controlled Drilling Machines For Working Metal

Exports from Sri Lanka

For the third consecutive year, Sri Lanka recorded growth in overseas shipments of numerically controlled drilling machines for working metal, which increased by 79% to X kg in 2021. In general, exports posted prominent growth. The most prominent rate of growth was recorded in 2019 with an increase of 117% against the previous year. The exports peaked in 2021 and are likely to see steady growth in years to come.

In value terms, numerically controlled drilling machine exports skyrocketed to $X in 2021. Overall, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 with an increase of 108% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are likely to see gradual growth in the near future.

Exports by Country

Maldives (X kg) was the main destination for numerically controlled drilling machine exports from Sri Lanka, accounting for a approx. 100% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Maldives totaled +8.7%.

In value terms, Maldives ($X) also remains the key foreign market for numerically controlled drilling machines for working metal exports from Sri Lanka.

From 2012 to 2021, the average annual rate of growth in terms of value to Maldives was relatively modest.

Export Prices by Country

The average numerically controlled drilling machine export price stood at $X per ton in 2021, dropping by -10.6% against the previous year. Overall, the export price showed a abrupt decrease. The most prominent rate of growth was recorded in 2018 an increase of 34% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Maldives.

From 2012 to 2021, the rate of growth in terms of prices for Maldives amounted to -7.8% per year.

Imports of Numerically Controlled Drilling Machines For Working Metal

Imports into Sri Lanka

In 2021, overseas purchases of numerically controlled drilling machines for working metal increased by 86% to X tons, rising for the second consecutive year after two years of decline. In general, imports enjoyed prominent growth. The most prominent rate of growth was recorded in 2017 when imports increased by 850%. Imports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, numerically controlled drilling machine imports surged to $X in 2021. Over the period under review, imports enjoyed temperate growth. The pace of growth appeared the most rapid in 2016 with an increase of 557,700%. Imports peaked in 2021 and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) was the main supplier of numerically controlled drilling machine to Sri Lanka, with a 92% share of total imports. Moreover, numerically controlled drilling machine imports from China exceeded the figures recorded by the second-largest supplier, Germany (X kg), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +16.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+71.5% per year) and Japan (-10.0% per year).

In value terms, China ($X) constituted the largest supplier of numerically controlled drilling machines for working metal to Sri Lanka, comprising 91% of total imports. The second position in the ranking was taken by Germany ($X), with a 4.2% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +7.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+37.0% per year) and Japan (-16.8% per year).

Import Prices by Country

The average numerically controlled drilling machine import price stood at $X per ton in 2021, which is down by -4.2% against the previous year. Over the period under review, the import price recorded a abrupt descent. The most prominent rate of growth was recorded in 2015 an increase of 30%. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, the country with the highest price was Japan ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (-7.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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