Sri Lanka: Market for Special-Purpose Electric Lamps and Lighting Fittings 2024

Market Size for Special-Purpose Electric Lamps and Lighting Fittings in Sri Lanka

The Sri Lankan market for special-purpose electric lamps and lighting fittings reduced markedly to $X in 2022, shrinking by -29.7% 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). Overall, consumption, however, recorded a resilient increase. Consumption of peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Exports of Special-Purpose Electric Lamps and Lighting Fittings

Exports from Sri Lanka

In 2022, the amount of special-purpose electric lamps and lighting fittings exported from Sri Lanka surged to X units, increasing by 268% compared with the previous year's figure. Overall, exports posted a significant expansion. The most prominent rate of growth was recorded in 2015 with an increase of 595%. The exports peaked in 2022 and are likely to see steady growth in the immediate term.

In value terms, exports of special-purpose electric lamps and lighting fittings skyrocketed to $X in 2022. Over the period under review, exports continue to indicate a significant expansion. Over the period under review, the exports of hit record highs at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates (X units) was the main destination for exports of special-purpose electric lamps and lighting fittings from Sri Lanka, accounting for a 86% share of total exports. Moreover, exports of special-purpose electric lamps and lighting fittings to the United Arab Emirates exceeded the volume sent to the second major destination, Ghana (X units), more than tenfold. Maldives (X units) ranked third in terms of total exports with a 2.6% share.

From 2012 to 2022, the average annual growth rate of volume to the United Arab Emirates stood at +196.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ghana (0.0% per year) and Maldives (+32.9% per year).

In value terms, the United Arab Emirates ($X) emerged as the key foreign market for special-purpose electric lamps and lighting fittings exports from Sri Lanka, comprising 85% of total exports. The second position in the ranking was held by Maldives ($X), with a 5.8% share of total exports. It was followed by the Dominican Republic, with a 3.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United Arab Emirates totaled +172.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Maldives (+24.4% per year) and the Dominican Republic (0.0% per year).

Export Prices by Country

In 2022, the average export price for special-purpose electric lamps and lighting fittings amounted to $X per unit, jumping by 52% against the previous year. Overall, the export price, however, continues to indicate a perceptible curtailment. The export price peaked at $X per unit in 2014; however, from 2015 to 2022, the export prices remained at a 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 Maldives ($X per unit), while the average price for exports to Ghana ($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 (-6.3%), while the prices for the other major destinations experienced a decline.

Imports of Special-Purpose Electric Lamps and Lighting Fittings

Imports into Sri Lanka

In 2022, the amount of special-purpose electric lamps and lighting fittings imported into Sri Lanka dropped rapidly to X units, falling by -23.7% against 2021 figures. In general, imports, however, posted a resilient increase. The pace of growth appeared the most rapid in 2017 with an increase of 206%. Over the period under review, imports of hit record highs at X units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of special-purpose electric lamps and lighting fittings declined sharply to $X in 2022. Over the period under review, imports, however, showed a buoyant expansion. The growth pace was the most rapid in 2017 with an increase of 220% against the previous year. Over the period under review, imports of hit record highs at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest special-purpose electric lamp and lighting fitting supplier to Sri Lanka, accounting for a 84% share of total imports. Moreover, imports of special-purpose electric lamps and lighting fittings from China exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X units), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +17.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+2.0% per year) and Malaysia (+5.0% per year).

In value terms, China ($X) constituted the largest supplier of special-purpose electric lamps and lighting fittings to Sri Lanka, comprising 66% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 3.2% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +12.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+5.4% per year) and Malaysia (+5.0% per year).

Import Prices by Country

In 2022, the average import price for special-purpose electric lamps and lighting fittings amounted to $X per unit, with a decrease of -4.2% against the previous year. Over the period under review, the import price showed a noticeable downturn. The most prominent rate of growth was recorded in 2021 an increase of 34% against the previous year. Over the period under review, average import prices reached the maximum at $X per unit in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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 Malaysia ($X per unit), while the price for the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+3.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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