Sri Lanka: Organo-Inorganic Compounds Market 2024

Organo-Inorganic Compounds Market Size in Sri Lanka

In 2021, the Sri Lankan organo-inorganic compounds market decreased by -19.6% to $X, falling for the second consecutive year after two years of growth. In general, consumption, however, enjoyed a perceptible increase. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Organo-Inorganic Compounds Exports

Exports from Sri Lanka

In 2021, overseas shipments of organo-inorganic compounds (excluding organo-sulphur compounds) increased by 160% to X kg, rising for the second consecutive year after three years of decline. In general, exports showed noticeable growth. The most prominent rate of growth was recorded in 2016 with an increase of 1,332% against the previous year. As a result, the exports reached the peak of X tons. From 2017 to 2021, the growth of the exports remained at a lower figure.

In value terms, organo-inorganic compounds exports soared to $X in 2021. Over the period under review, exports saw a pronounced expansion. The most prominent rate of growth was recorded in 2017 with an increase of 347%. As a result, the exports reached the peak of $X. From 2018 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Bangladesh (X kg), China (X kg) and the United Arab Emirates (X kg) were the main destinations of organo-inorganic compounds exports from Sri Lanka, with a combined 73% share of total exports. India, Vietnam and Maldives lagged somewhat behind, together accounting for a further 27%.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +4,450.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X) emerged as the key foreign market for organo-inorganic compounds (excluding organo-sulphur compounds) exports from Sri Lanka, comprising 49% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 22% share of total exports. It was followed by India, with an 11% share.

From 2012 to 2021, the average annual growth rate of value to China was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (0.0% per year) and India (+10.2% per year).

Export Prices by Country

The average organo-inorganic compounds export price stood at $X per ton in 2021, growing by 2.4% against the previous year. Overall, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 an increase of 1,295% against the previous year. The export price peaked at $X per ton in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+62.7%), while the prices for the other major destinations experienced mixed trend patterns.

Organo-Inorganic Compounds Imports

Imports into Sri Lanka

In 2021, purchases abroad of organo-inorganic compounds (excluding organo-sulphur compounds) decreased by -32.3% to X tons, falling for the second consecutive year after two years of growth. Overall, imports, however, saw measured growth. The pace of growth was the most pronounced in 2018 when imports increased by 169%. Over the period under review, imports reached the maximum at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, organo-inorganic compounds imports shrank to $X in 2021. In general, imports, however, showed a temperate expansion. The most prominent rate of growth was recorded in 2018 with an increase of 150% against the previous year. Over the period under review, imports reached the peak figure at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of organo-inorganic compounds to Sri Lanka, accounting for a 46% share of total imports. Moreover, organo-inorganic compounds imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), twofold. South Africa (X tons) ranked third in terms of total imports with a 5.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +39.4%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-1.9% per year) and South Africa (+41.1% per year).

In value terms, China ($X) constituted the largest supplier of organo-inorganic compounds (excluding organo-sulphur compounds) to Sri Lanka, comprising 32% of total imports. The second position in the ranking was held by Singapore ($X), with a 13% share of total imports. It was followed by India, with a 12% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to +29.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (-2.1% per year) and India (-4.3% per year).

Import Prices by Country

The average organo-inorganic compounds import price stood at $X per ton in 2021, surging by 28% against the previous year. In general, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when the average import price increased by 42% against the previous year. The import price peaked at $X per ton in 2016; however, from 2017 to 2021, import prices remained at a lower figure.

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 States ($X per ton), while the price for Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+14.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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