Sri Lanka: Market for Reel Fed Letterpress Printing Machinery 2024

Market Size for Reel Fed Letterpress Printing Machinery in Sri Lanka

The Sri Lankan market for reel fed letterpress printing machinery declined remarkably to $X in 2022, waning by -91.8% against the previous year. In general, consumption saw a dramatic curtailment. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Production of Reel Fed Letterpress Printing Machinery in Sri Lanka

In value terms, reel fed letterpress printing machinery production stood at $X in 2022 estimated in export price. Overall, production showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the production volume increased by 3.8%. Over the period under review, production reached the peak level at $X in 2020; afterwards, it flattened through to 2022.

Exports of Reel Fed Letterpress Printing Machinery

Exports from Sri Lanka

In 2022, overseas shipments of reel fed letterpress printing machinery increased by 17% to X units, rising for the second consecutive year after five years of decline. Overall, exports showed a significant expansion. The most prominent rate of growth was recorded in 2014 when exports increased by 5,300% against the previous year. Over the period under review, the exports hit record highs at X units in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, reel fed letterpress printing machinery exports expanded sharply to $X in 2022. Over the period under review, exports posted a significant increase. The growth pace was the most rapid in 2014 with an increase of 14,006%. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

India (X units), Bangladesh (X units) and the United Arab Emirates (X units) were the main destinations of reel fed letterpress printing machinery exports from Sri Lanka. Moreover, reel fed letterpress printing machinery exports in India exceeded the figures recorded by the second-largest exporter, Bangladesh, twofold.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +14.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, India ($X) remains the key foreign market for reel fed letterpress printing machinery exports from Sri Lanka, comprising 99% of total exports. The second position in the ranking was taken by Bangladesh ($X), with a 0.6% share of total exports.

From 2012 to 2022, the average annual growth rate of value to India stood at +52.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bangladesh (-38.5% per year) and the United Arab Emirates (0.0% per year).

Export Prices by Country

The average export price for reel fed letterpress printing machinery stood at $X per unit in 2022, reducing by -2.7% against the previous year. In general, the export price, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2016 an increase of 199% 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 India ($X per unit), while the average price for exports to Bangladesh ($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 India (+33.1%).

Imports of Reel Fed Letterpress Printing Machinery

Imports into Sri Lanka

Reel fed letterpress printing machinery imports into Sri Lanka fell dramatically to X units in 2022, with a decrease of -76.9% against 2021 figures. Overall, imports recorded a abrupt decrease. The most prominent rate of growth was recorded in 2018 when imports increased by 358%. As a result, imports attained the peak of X units. From 2019 to 2022, the growth of imports remained at a lower figure.

In value terms, reel fed letterpress printing machinery imports declined dramatically to $X in 2022. Over the period under review, imports continue to indicate a deep contraction. The most prominent rate of growth was recorded in 2018 when imports increased by 582%. As a result, imports attained the peak of $X. From 2019 to 2022, the growth of imports failed to regain momentum.

Imports by Country

India (X units) and China (X units) were the main suppliers of reel fed letterpress printing machinery imports to Sri Lanka. Moreover, reel fed letterpress printing machinery imports in India exceeded the figures recorded by the second-largest supplier, China, twofold.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of +7.2%).

In value terms, China ($X) constituted the largest supplier of reel fed letterpress printing machinery to Sri Lanka, comprising 89% of total imports. The second position in the ranking was taken by India ($X), with an 11% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China totaled +9.8%.

Import Prices by Country

The average import price for reel fed letterpress printing machinery stood at $X per unit in 2022, waning by -12.6% against the previous year. Over the period under review, the import price, however, enjoyed a strong increase. The growth pace was the most rapid in 2017 an increase of 126% against the previous year. Over the period under review, average import prices reached the maximum at $X per unit in 2020; however, from 2021 to 2022, import prices remained at a 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 China ($X per unit), while the price for India stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+37.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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