Sri Lanka: Printing Press Market 2024

Printing Press Market Size in Sri Lanka

After three years of growth, the Sri Lankan printing press market decreased by -60.5% to $X in 2022. In general, consumption showed a deep reduction. Printing press consumption peaked at $X in 2021, and then dropped dramatically in the following year.

Printing Press Production in Sri Lanka

In value terms, printing press production fell slightly to $X in 2022 estimated in export price. In general, production, however, continues to indicate a abrupt curtailment. The pace of growth was the most pronounced in 2021 with an increase of 11% against the previous year. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Printing Press Exports

Exports from Sri Lanka

Printing press exports from Sri Lanka surged to X units in 2022, increasing by 230% on the previous year. Over the period under review, exports enjoyed a remarkable increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, printing press exports skyrocketed to $X in 2022. In general, exports recorded a buoyant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Bangladesh (X units) was the main destination for printing press exports from Sri Lanka, with a 56% share of total exports. Moreover, printing press exports to Bangladesh exceeded the volume sent to the second major destination, Papua New Guinea (X units), fourfold. The third position in this ranking was taken by India (X units), with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Bangladesh totaled +60.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Papua New Guinea (+2,400.0% per year) and India (+11.1% per year).

In value terms, Bangladesh ($X), India ($X) and the United Arab Emirates ($X) constituted the largest markets for printing press exported from Sri Lanka worldwide, together comprising 65% of total exports. Hong Kong SAR, Malaysia, Kenya, Ethiopia, Maldives, Papua New Guinea and the UK lagged somewhat behind, together accounting for a further 7.5%.

Among the main countries of destination, Papua New Guinea, with a CAGR of +1,731.4%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average printing press export price amounted to $X per unit, surging by 136% against the previous year. Over the period under review, the export price posted a strong increase. The most prominent rate of growth was recorded in 2016 when the average export price increased by 184%. Over the period under review, the average export prices attained the maximum in 2022 and is likely to see steady growth in the near future.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per unit), while the average price for exports to the UK ($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 Kenya (+14.7%), while the prices for the other major destinations experienced more modest paces of growth.

Printing Press Imports

Imports into Sri Lanka

In 2022, purchases abroad of printing presses decreased by -50.1% to X units for the first time since 2018, thus ending a three-year rising trend. In general, imports saw a noticeable shrinkage. The most prominent rate of growth was recorded in 2015 with an increase of 185%. Imports peaked at X units in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, printing press imports contracted notably to $X in 2022. Over the period under review, imports recorded a abrupt setback. The most prominent rate of growth was recorded in 2021 when imports increased by 102%. Over the period under review, imports attained the peak figure at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest printing press supplier to Sri Lanka, with a 79% share of total imports. Moreover, printing press imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X units), more than tenfold. Japan (X units) ranked third in terms of total imports with a 4.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +7.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+37.8% per year) and Japan (+19.5% per year).

In value terms, China ($X), Japan ($X) and Austria ($X) appeared to be the largest printing press suppliers to Sri Lanka, with a combined 42% share of total imports.

Austria, with a CAGR of +39.1%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average printing press import price stood at $X per unit in 2022, waning by -44.5% against the previous year. Over the period under review, the import price recorded a perceptible reduction. The pace of growth appeared the most rapid in 2017 an increase of 130% against the previous year. Over the period under review, average import prices attained the peak figure at $X per unit in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

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 Austria ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+32.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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