Sri Lanka: Metal Sawing Machine Market 2024

Metal Sawing Machine Market Size in Sri Lanka

In 2021, after two years of decline, there was significant growth in the Sri Lankan metal sawing machine market, when its value increased by 63% to $X. Overall, consumption enjoyed resilient growth. Over the period under review, the market reached the peak level at $X in 2016; however, from 2017 to 2021, consumption stood at a somewhat lower figure.

Metal Sawing Machine Exports

Exports from Sri Lanka

In 2021, exports of sawing or cutting-off machines for working metal from Sri Lanka shrank notably to X units, which is down by -44.6% on the year before. In general, exports saw a abrupt contraction. The pace of growth was the most pronounced in 2017 when exports increased by 342%. As a result, the exports reached the peak of X units. From 2018 to 2021, the growth of the exports remained at a lower figure.

In value terms, metal sawing machine exports shrank markedly to $X in 2021. Over the period under review, exports saw a slight reduction. The growth pace was the most rapid in 2013 when exports increased by 729%. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Maldives (X units) was the main destination for metal sawing machine exports from Sri Lanka, accounting for a 42% share of total exports. Moreover, metal sawing machine exports to Maldives exceeded the volume sent to the second major destination, Ethiopia (X units), threefold. The third position in this ranking was taken by Seychelles (X units), with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Maldives amounted to -6.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ethiopia (+16.7% per year) and Seychelles (0.0% per year).

In value terms, India ($X) emerged as the key foreign market for sawing or cutting-off machines for working metal exports from Sri Lanka, comprising 56% of total exports. The second position in the ranking was taken by Maldives ($X), with a 17% share of total exports. It was followed by Germany, with a 6.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value to India stood at +3.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Maldives (-3.8% per year) and Germany (+15.0% per year).

Export Prices by Country

The average metal sawing machine export price stood at $X per unit in 2021, picking up by 27% against the previous year. Over the period under review, the export price continues to indicate measured growth. The pace of growth was the most pronounced in 2019 when the average export price increased by 591%. The export price peaked at $X per unit in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was India ($X per unit), while the average price for exports to Ethiopia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (+1,017.6%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Sawing Machine Imports

Imports into Sri Lanka

In 2021, after two years of decline, there was significant growth in overseas purchases of sawing or cutting-off machines for working metal, when their volume increased by 52% to X units. Over the period under review, imports saw a strong increase. The pace of growth was the most pronounced in 2014 when imports increased by 98% against the previous year. Over the period under review, imports hit record highs at X units in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, metal sawing machine imports soared to $X in 2021. Overall, total imports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +5.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Imports peaked at $X in 2015; however, from 2016 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X units) constituted the largest supplier of metal sawing machine to Sri Lanka, with a 84% share of total imports. Moreover, metal sawing machine imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +11.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+9.9% per year) and the UK (+14.6% per year).

In value terms, China ($X) constituted the largest supplier of sawing or cutting-off machines for working metal to Sri Lanka, comprising 52% of total imports. The second position in the ranking was taken by Japan ($X), with a 2.7% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +9.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-4.1% per year) and the UK (-4.6% per year).

Import Prices by Country

In 2021, the average metal sawing machine import price amounted to $X per unit, picking up by 13% against the previous year. Over the period under review, the import price, however, continues to indicate a perceptible shrinkage. The growth pace was the most rapid in 2017 an increase of 50%. The import price peaked at $X per unit in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the UK ($X per unit), while the price for Japan ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (-2.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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