Sri Lanka: Objective Lens Market 2025

Objective Lens Market Size in Sri Lanka

The Sri Lankan objective lens market skyrocketed to $X in 2021, rising by 126% 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). Over the period under review, consumption recorded a buoyant expansion. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Objective Lens Exports

Exports from Sri Lanka

In 2021, overseas shipments of objective lenses for cameras, projectors or photographic enlargers or reducers decreased by -50% to X units, falling for the third year in a row after two years of growth. In general, exports continue to indicate a deep downturn. The pace of growth was the most pronounced in 2015 when exports increased by 3,367%. As a result, the exports attained the peak of X units. From 2016 to 2021, the growth of the exports remained at a lower figure.

In value terms, objective lens exports reduced to $X in 2021. Over the period under review, exports recorded a noticeable downturn. The pace of growth appeared the most rapid in 2015 with an increase of 807%. As a result, the exports attained the peak of $X. From 2016 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Switzerland (X units) and Singapore (X units) were the main destinations of objective lens exports from Sri Lanka. Moreover, objective lens exports in Switzerland exceeded the figures recorded by the second-largest exporter, Singapore, twofold.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Switzerland (with a CAGR of 0.0%).

In value terms, Singapore ($X) remains the key foreign market for objective lenses for cameras, projectors or photographic enlargers or reducers exports from Sri Lanka, comprising 92% of total exports. The second position in the ranking was taken by Switzerland ($X), with a 5.4% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Singapore stood at +54.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Switzerland (-21.5% per year) and Maldives (-31.9% per year).

Export Prices by Country

The average objective lens export price stood at $X per unit in 2021, picking up by 73% against the previous year. Overall, the export price posted a resilient increase. The pace of growth appeared the most rapid in 2020 an increase of 189%. The export price peaked in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Singapore ($X per unit), while the average price for exports to Switzerland ($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 Singapore (+15.6%), while the prices for the other major destinations experienced a decline.

Objective Lens Imports

Imports into Sri Lanka

In 2021, the amount of objective lenses for cameras, projectors or photographic enlargers or reducers imported into Sri Lanka soared to X units, rising by 158% compared with the previous year's figure. In general, imports posted a strong increase. The pace of growth appeared the most rapid in 2019 with an increase of 280% against the previous year. As a result, imports reached the peak of X units. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, objective lens imports surged to $X in 2021. Overall, imports posted resilient growth. The most prominent rate of growth was recorded in 2016 with an increase of 233% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X units) constituted the largest objective lens supplier to Sri Lanka, with a 48% share of total imports. Moreover, objective lens imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), twofold. Singapore (X units) ranked third in terms of total imports with a 16% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +33.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+24.8% per year) and Singapore (+5.0% per year).

In value terms, Japan ($X) constituted the largest supplier of objective lenses for cameras, projectors or photographic enlargers or reducers to Sri Lanka, comprising 74% of total imports. The second position in the ranking was taken by the United States ($X), with a 5.2% share of total imports. It was followed by China, with a 5.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Japan totaled +31.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+12.1% per year) and China (+27.3% per year).

Import Prices by Country

The average objective lens import price stood at $X per unit in 2021, with a decrease of -35.9% against the previous year. In general, the import price, however, showed slight growth. The pace of growth appeared the most rapid in 2020 an increase of 284%. Over the period under review, average import prices hit record highs at $X per unit in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Japan ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+5.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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