Sri Lanka: Personal Weighing Machine Market 2024

Personal Weighing Machine Market Size in Sri Lanka

The Sri Lankan personal weighing machine market fell rapidly to $X in 2022, shrinking by -85.8% 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). In general, consumption continues to indicate a pronounced decline. Personal weighing machine consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Personal Weighing Machine Exports

Exports from Sri Lanka

In 2022, personal weighing machine exports from Sri Lanka surged to X units, jumping by 30% compared with the previous year's figure. Overall, exports, however, recorded a abrupt shrinkage. The growth pace was the most rapid in 2018 with an increase of 14,503%. The exports peaked at X units in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, personal weighing machine exports reduced to $X in 2022. In general, exports, however, continue to indicate a significant contraction. The most prominent rate of growth was recorded in 2018 with an increase of 26,819% against the previous year. Over the period under review, the exports hit record highs at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Maldives (X units) was the main destination for personal weighing machine exports from Sri Lanka, accounting for a 60% share of total exports. Moreover, personal weighing machine exports to Maldives exceeded the volume sent to the second major destination, Ethiopia (X units), fourfold. Seychelles (X units) ranked third in terms of total exports with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Maldives stood at +29.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ethiopia (-12.9% per year) and Seychelles (+23.1% per year).

In value terms, the Dominican Republic ($X) emerged as the key foreign market for personal weighing machines exports from Sri Lanka, comprising 66% of total exports. The second position in the ranking was held by Ethiopia ($X), with a 12% share of total exports. It was followed by Seychelles, with a 10% share.

From 2012 to 2022, the average annual growth rate of value to the Dominican Republic was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Ethiopia (+15.4% per year) and Seychelles (+17.4% per year).

Export Prices by Country

In 2022, the average personal weighing machine export price amounted to $X per unit, reducing by -27.4% against the previous year. Overall, the export price saw a abrupt descent. The pace of growth appeared the most rapid in 2018 when the average export price increased by 84%. As a result, the export price attained the peak level of $X per unit. From 2019 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the Dominican Republic ($X per unit), while the average price for exports to Maldives ($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 Ethiopia (+32.6%), while the prices for the other major destinations experienced more modest paces of growth.

Personal Weighing Machine Imports

Imports into Sri Lanka

In 2022, approx. X units of personal weighing machines were imported into Sri Lanka; which is down by -88.4% compared with the previous year. Overall, imports saw a abrupt slump. The pace of growth was the most pronounced in 2014 when imports increased by 186% against the previous year. Imports peaked at X units in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, personal weighing machine imports dropped rapidly to $X in 2022. Over the period under review, imports showed a pronounced descent. The most prominent rate of growth was recorded in 2014 when imports increased by 283%. Over the period under review, imports reached the peak figure at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) was the main personal weighing machine supplier to Sri Lanka, accounting for a 93% share of total imports. It was followed by Hong Kong SAR (X units), with a 3% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to -6.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (+1.7% per year) and Denmark (+7.0% per year).

In value terms, Denmark ($X), China ($X) and Hong Kong SAR ($X) constituted the largest personal weighing machine suppliers to Sri Lanka, with a combined 88% share of total imports.

In terms of the main suppliers, Denmark, with a CAGR of +13.6%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average personal weighing machine import price stood at $X per unit in 2022, picking up by 34% against the previous year. Overall, the import price showed a resilient increase. The growth pace was the most rapid in 2019 when the average import price increased by 68% against the previous year. The import price peaked at $X per unit in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Denmark ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+13.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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