Sri Lanka: Market for Sanitary Ware And Parts Of Iron Or Steel 2024

Market Size for Sanitary Ware And Parts Of Iron Or Steel in Sri Lanka

In 2021, the Sri Lankan market for sanitary ware and parts of iron or steel increased by 17% to $X for the first time since 2017, thus ending a three-year declining trend. In general, the total consumption indicated a notable expansion from 2012 to 2021: its value increased at an average annual rate of +3.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -18.2% against 2017 indices. Iron or steel sanitary ware consumption peaked at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Production of Sanitary Ware And Parts Of Iron Or Steel in Sri Lanka

In value terms, iron or steel sanitary ware production skyrocketed to $X in 2021 estimated in export price. Overall, the total production indicated a temperate expansion from 2012 to 2021: its value increased at an average annual rate of +2.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -26.0% against 2017 indices. The most prominent rate of growth was recorded in 2013 with an increase of 43%. Iron or steel sanitary ware production peaked at $X in 2017; however, from 2018 to 2021, production stood at a somewhat lower figure.

Exports of Sanitary Ware And Parts Of Iron Or Steel

Exports from Sri Lanka

In 2021, approx. X tons of sanitary ware and parts of iron or steel were exported from Sri Lanka; picking up by 41% on the previous year's figure. Over the period under review, exports posted strong growth. The most prominent rate of growth was recorded in 2015 when exports increased by 860%. As a result, the exports attained the peak of X tons. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, iron or steel sanitary ware exports soared to $X in 2021. Overall, exports continue to indicate a strong expansion. The growth pace was the most rapid in 2015 when exports increased by 930%. As a result, the exports reached the peak of $X. From 2016 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Maldives (X tons) was the main destination for iron or steel sanitary ware exports from Sri Lanka, accounting for a 67% share of total exports. Moreover, iron or steel sanitary ware exports to Maldives exceeded the volume sent to the second major destination, India (X tons), threefold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Maldives stood at +13.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+60.5% per year) and Seychelles (+56.6% per year).

In value terms, Maldives ($X) emerged as the key foreign market for sanitary ware and parts of iron or steel exports from Sri Lanka, comprising 66% of total exports. The second position in the ranking was taken by India ($X), with a 28% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Maldives amounted to +14.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+56.4% per year) and Seychelles (+67.4% per year).

Export Prices by Country

The average export price for sanitary ware and parts of iron or steel stood at $X per ton in 2021, jumping by 67% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 an increase of 87% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2017; however, from 2018 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was India ($X per ton), while the average price for exports to Seychelles ($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 (+6.0%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Sanitary Ware And Parts Of Iron Or Steel

Imports into Sri Lanka

In 2021, after two years of decline, there was significant growth in purchases abroad of sanitary ware and parts of iron or steel, when their volume increased by 19% to X tons. In general, total imports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +5.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2015 with an increase of 29%. Imports peaked in 2021 and are expected to retain growth in years to come.

In value terms, iron or steel sanitary ware imports stood at $X in 2021. Overall, imports saw a buoyant expansion. The growth pace was the most rapid in 2013 when imports increased by 52% against the previous year. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in the near future.

Imports by Country

In 2021, China (X tons) was the main supplier of iron or steel sanitary ware to Sri Lanka, with a 91% share of total imports. Moreover, iron or steel sanitary ware imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +8.2%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+12.5% per year) and the United Arab Emirates (-32.3% per year).

In value terms, China ($X) constituted the largest supplier of sanitary ware and parts of iron or steel to Sri Lanka, comprising 91% of total imports. The second position in the ranking was taken by India ($X), with a 3.6% share of total imports.

From 2012 to 2021, the average annual growth rate of value from China totaled +16.4%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+18.4% per year) and the United Arab Emirates (-22.0% per year).

Import Prices by Country

The average import price for sanitary ware and parts of iron or steel stood at $X per ton in 2021, with a decrease of -7.3% against the previous year. Overall, import price indicated a buoyant expansion from 2012 to 2021: its price increased at an average annual rate of +6.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, iron or steel sanitary ware import price increased by +29.7% against 2017 indices. The pace of growth was the most pronounced in 2013 an increase of 33%. Over the period under review, average import prices reached the peak figure at $X per ton in 2020, and then dropped in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United Arab Emirates ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+15.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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