Sri Lanka: Market for Primary Cells and Batteries 2024

Market Size for Primary Cells and Batteries in Sri Lanka

The Sri Lankan primary cell and battery market dropped markedly to $X in 2022, declining by -33.9% 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 saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X, and then reduced sharply in the following year.

Exports of Primary Cells and Batteries

Exports from Sri Lanka

In 2022, approx. X units of primary cells and batteries were exported from Sri Lanka; with a decrease of -36.9% compared with the year before. Over the period under review, exports faced a abrupt shrinkage. The most prominent rate of growth was recorded in 2015 with an increase of 1,875% against the previous year. As a result, the exports attained the peak of X units. From 2016 to 2022, the growth of the exports failed to regain momentum.

In value terms, primary cell and battery exports contracted to $X in 2022. In general, exports recorded a abrupt curtailment. The pace of growth was the most pronounced in 2015 when exports increased by 161% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Maldives (X units) was the main destination for primary cell and battery exports from Sri Lanka, accounting for a 90% share of total exports. Moreover, primary cell and battery exports to Maldives exceeded the volume sent to the second major destination, Germany (X units), more than tenfold. The third position in this ranking was held by Switzerland (X units), with a 2% share.

From 2012 to 2022, the average annual growth rate of volume to Maldives stood at -7.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+66.0% per year) and Switzerland (-31.6% per year).

In value terms, Maldives ($X) remains the key foreign market for primary cells and batteries exports from Sri Lanka, comprising 22% of total exports. The second position in the ranking was taken by Germany ($X), with a 9.6% share of total exports. It was followed by Switzerland, with a 2.2% share.

From 2012 to 2022, the average annual growth rate of value to Maldives amounted to -16.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+41.5% per year) and Switzerland (-19.8% per year).

Export Prices by Country

The average primary cell and battery export price stood at $X per unit in 2022, growing by 37% against the previous year. Over the period under review, the export price enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2016 an increase of 427% against the previous year. The export price peaked at $X per unit in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per unit), while the average price for exports to Maldives ($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 Myanmar (+132.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Primary Cells and Batteries

Imports into Sri Lanka

Primary cell and battery imports into Sri Lanka dropped notably to X units in 2022, shrinking by -53.3% against the previous year. Over the period under review, imports recorded a perceptible descent. The most prominent rate of growth was recorded in 2021 with an increase of 108%. As a result, imports reached the peak of X units, and then shrank dramatically in the following year.

In value terms, primary cell and battery imports reduced sharply to $X in 2022. In general, total imports indicated a modest expansion from 2012 to 2022: its value increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +28.3% against 2020 indices. The most prominent rate of growth was recorded in 2015 with an increase of 58%. As a result, imports attained the peak of $X. From 2016 to 2022, the growth of imports failed to regain momentum.

Imports by Country

China (X units), Indonesia (X units) and Thailand (X units) were the main suppliers of primary cell and battery imports to Sri Lanka, together accounting for 98% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Thailand (with a CAGR of +22.2%), while imports for the other leaders experienced mixed trend patterns.

In value terms, China ($X) constituted the largest supplier of primary cells and batteries to Sri Lanka, comprising 64% of total imports. The second position in the ranking was taken by Indonesia ($X), with a 21% share of total imports. It was followed by Thailand, with a 3.2% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +9.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (-2.5% per year) and Thailand (+19.2% per year).

Import Prices by Country

The average primary cell and battery import price stood at $X per unit in 2022, surging by 76% against the previous year. Overall, import price indicated strong growth from 2012 to 2022: its price increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 India ($X per unit), while the price for Indonesia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+10.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform