Sri Lanka: Sack And Bag Market 2024

Sack And Bag Market Size in Sri Lanka

In 2022, after four years of growth, there was significant decline in the Sri Lankan sack and bag market, when its value decreased by X% to $X. Over the period under review, the total consumption indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2021, and then fell in the following year.

Sack And Bag Production in Sri Lanka

In value terms, sack and bag production stood at $X in 2022 estimated in export price. Overall, the total production indicated strong growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2018 when the production volume increased by X%. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Sack And Bag Exports

Exports from Sri Lanka

After four years of growth, overseas shipments of sacks and bags decreased by X% to X tons in 2022. Over the period under review, total exports indicated tangible growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2017 indices. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, sack and bag exports contracted markedly to $X in 2022. Overall, exports, however, recorded a noticeable expansion. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, the exports reached the peak of $X, and then declined sharply in the following year.

Exports by Country

The Netherlands (X tons) was the main destination for sack and bag exports from Sri Lanka, accounting for a X% share of total exports. Moreover, sack and bag exports to the Netherlands exceeded the volume sent to the second major destination, Australia (X tons), threefold. Israel (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to the Netherlands amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (X% per year) and Israel (X% per year).

In value terms, the Netherlands ($X) remains the key foreign market for sacks and bags exports from Sri Lanka, comprising X% of total exports. The second position in the ranking was taken by Australia ($X), with a X% share of total exports. It was followed by New Zealand, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the Netherlands stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (X% per year) and New Zealand (X% per year).

Export Prices by Country

In 2022, the average sack and bag export price amounted to $X per ton, shrinking by X% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2021, and then fell in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Israel ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (X%), while the prices for the other major destinations experienced more modest paces of growth.

Sack And Bag Imports

Imports into Sri Lanka

In 2022, approx. X tons of sacks and bags were imported into Sri Lanka; dropping by X% compared with 2021. Over the period under review, imports, however, enjoyed a modest expansion. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons, and then contracted notably in the following year.

In value terms, sack and bag imports dropped significantly to $X in 2022. Overall, imports, however, enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2021 when imports increased by X%. As a result, imports attained the peak of $X, and then shrank remarkably in the following year.

Imports by Country

In 2022, Bangladesh (X tons) constituted the largest supplier of sack and bag to Sri Lanka, with a X% share of total imports. Moreover, sack and bag imports from Bangladesh exceeded the figures recorded by the second-largest supplier, India (X tons), twofold. The third position in this ranking was held by China (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Bangladesh totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and China (X% per year).

In value terms, Bangladesh ($X) constituted the largest supplier of sacks and bags to Sri Lanka, comprising X% of total imports. The second position in the ranking was taken by China ($X), with a X% share of total imports. It was followed by Vietnam, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Bangladesh stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Vietnam (X% per year).

Import Prices by Country

In 2022, the average sack and bag import price amounted to $X per ton, jumping by X% against the previous year. In general, the import price showed a resilient expansion. The pace of growth was the most pronounced in 2019 an increase of X%. The import price peaked in 2022 and is likely to see gradual growth in the near future.

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 Indonesia ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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