Sri Lanka: Market for Railway Or Tramway Track Construction Material Of Iron Or Steel 2025

Market Size for Railway Or Tramway Track Construction Material Of Iron Or Steel in Sri Lanka

In 2021, after two years of growth, there was significant decline in the Sri Lankan market for railway or tramway track construction material of iron or steel, when its value decreased by -86.5% to $X. Overall, consumption continues to indicate a abrupt setback. As a result, consumption attained the peak level of $X, and then reduced markedly in the following year.

Exports of Railway Or Tramway Track Construction Material Of Iron Or Steel

Exports from Sri Lanka

In 2021, shipments abroad of railway or tramway track construction material of iron or steel decreased by -79.5% to X tons for the first time since 2017, thus ending a three-year rising trend. In general, exports continue to indicate a sharp decrease. The growth pace was the most rapid in 2018 with an increase of 653%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, exports of railway or tramway track construction material of iron or steel shrank remarkably to $X in 2021. Over the period under review, exports faced a precipitous descent. The most prominent rate of growth was recorded in 2018 when exports increased by 726%. Over the period under review, the exports of hit record highs at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Maldives (X tons), Seychelles (X tons) and the Dominican Republic (X kg) were the main destinations of exports of railway or tramway track construction material of iron or steel from Sri Lanka, with a combined 93% share of total exports. India lagged somewhat behind, accounting for a further 6.3%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by India (with a CAGR of +53.7%), while the other leaders experienced more modest paces of growth.

In value terms, the Dominican Republic ($X), Maldives ($X) and Seychelles ($X) constituted the largest markets for iron and steel railway construction materials exported from Sri Lanka worldwide, together accounting for 89% of total exports.

Seychelles, with a CAGR of +22.6%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average export price for railway or tramway track construction material of iron or steel amounted to $X per ton, with an increase of 73% against the previous year. Over the period under review, the export price continues to indicate pronounced growth. The pace of growth was the most pronounced in 2013 when the average export price increased by 351%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Dominican Republic ($X per ton), while the average price for exports to Seychelles ($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 Seychelles (+9.0%), while the prices for the other major destinations experienced a decline.

Imports of Railway Or Tramway Track Construction Material Of Iron Or Steel

Imports into Sri Lanka

In 2021, purchases abroad of railway or tramway track construction material of iron or steel decreased by -88.9% to X tons for the first time since 2018, thus ending a two-year rising trend. Over the period under review, imports recorded a abrupt curtailment. The growth pace was the most rapid in 2020 with an increase of 321%. As a result, imports reached the peak of X tons, and then fell notably in the following year.

In value terms, imports of railway or tramway track construction material of iron or steel fell notably to $X in 2021. Overall, imports showed a drastic downturn. The most prominent rate of growth was recorded in 2020 with an increase of 259% against the previous year. As a result, imports attained the peak of $X, and then dropped dramatically in the following year.

Imports by Country

In 2021, India (X tons) constituted the largest supplier of iron and steel railway construction materials to Sri Lanka, accounting for a 56% share of total imports. Moreover, imports of railway or tramway track construction material of iron or steel from India exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. The third position in this ranking was taken by Australia (X tons), with an 8.9% share.

From 2012 to 2021, the average annual growth rate of volume from India stood at +6.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+11.3% per year) and Australia (-1.3% per year).

In value terms, India ($X) constituted the largest supplier of railway or tramway track construction material of iron or steel to Sri Lanka, comprising 55% of total imports. The second position in the ranking was held by China ($X), with a 14% share of total imports. It was followed by Australia, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value from India amounted to -1.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+2.7% per year) and Australia (-3.3% per year).

Import Prices by Country

The average import price for railway or tramway track construction material of iron or steel stood at $X per ton in 2021, surging by 55% against the previous year. Overall, the import price, however, recorded a pronounced slump. Over the period under review, average import prices attained the maximum at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

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 France ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+27.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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