Sri Lanka: Refrigerator And Freezer Market 2024

Refrigerator And Freezer Market Size in Sri Lanka

The Sri Lankan refrigerator and freezer market dropped sharply to $X in 2022, waning by X% against the previous year. In general, consumption saw a pronounced descent. Refrigerator and freezer consumption peaked at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Refrigerator And Freezer Production in Sri Lanka

In value terms, refrigerator and freezer production amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2013 when the production volume increased by X%. Refrigerator and freezer production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Refrigerator And Freezer Exports

Exports from Sri Lanka

In 2022, overseas shipments of refrigerators and freezers increased by X% to X units, rising for the second consecutive year after two years of decline. Over the period under review, exports showed notable growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, refrigerator and freezer exports fell remarkably to $X in 2022. Overall, exports, however, saw a abrupt slump. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Maldives (X units) was the main destination for refrigerator and freezer exports from Sri Lanka, accounting for a X% share of total exports. Moreover, refrigerator and freezer exports to Maldives exceeded the volume sent to the second major destination, the United Arab Emirates (X units), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Maldives totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (X% per year) and India (X% per year).

In value terms, Maldives ($X) emerged as the key foreign market for refrigerators and freezers exports from Sri Lanka, comprising X% of total exports. The second position in the ranking was taken by India ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Maldives stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (X% per year) and the United Arab Emirates (X% per year).

Export Prices by Country

In 2022, the average refrigerator and freezer export price amounted to $X per unit, with a decrease of X% against the previous year. In general, the export price recorded a deep contraction. The pace of growth appeared the most rapid in 2013 when the average export price increased by X%. Over the period under review, the average export prices attained the maximum at $X per unit in 2017; however, from 2018 to 2022, the 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 India ($X per unit), while the average price for exports to the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Qatar (X%), while the prices for the other major destinations experienced a decline.

Refrigerator And Freezer Imports

Imports into Sri Lanka

In 2022, imports of refrigerators and freezers into Sri Lanka reduced remarkably to X units, shrinking by X% compared with 2021 figures. Overall, imports recorded a abrupt decline. The most prominent rate of growth was recorded in 2016 when imports increased by X%. Over the period under review, imports attained the maximum at X units in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, refrigerator and freezer imports fell remarkably to $X in 2022. In general, imports faced a drastic downturn. The pace of growth appeared the most rapid in 2015 when imports increased by X%. Over the period under review, imports attained the maximum at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X units), India (X units) and Thailand (X units) were the main suppliers of refrigerator and freezer imports to Sri Lanka, together accounting for X% of total imports. Turkey, Germany, South Korea and Indonesia lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of X%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest refrigerator and freezer suppliers to Sri Lanka were China ($X), India ($X) and Thailand ($X), together comprising X% of total imports. Germany, Turkey, South Korea and Indonesia lagged somewhat behind, together comprising a further X%.

In terms of the main suppliers, Germany, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average refrigerator and freezer import price stood at $X per unit in 2022, rising by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The growth pace was the most rapid in 2015 when the average import price increased by X% against the previous year. The import price peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Indonesia ($X per unit), while the price for Turkey ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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