Sri Lanka: Knitted Ski-Suit Market 2024

Knitted Ski-Suit Market Size in Sri Lanka

The Sri Lankan knitted ski-suit market reduced notably to $X in 2022, which is down by -57.7% against the previous year. Over the period under review, consumption saw a abrupt decrease. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Knitted Ski-Suit Production in Sri Lanka

In value terms, knitted ski-suit production reduced modestly to $X in 2022 estimated in export price. In general, production, however, showed a pronounced descent. The most prominent rate of growth was recorded in 2021 with an increase of 2.3% against the previous year. Knitted ski-suit production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Knitted Ski-Suit Exports

Exports from Sri Lanka

Knitted ski-suit exports from Sri Lanka surged to X units in 2022, increasing by 841% on 2021 figures. Overall, exports saw resilient growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, knitted ski-suit exports soared to $X in 2022. In general, exports enjoyed prominent growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Australia (X units) was the main destination for knitted ski-suit exports from Sri Lanka, with a 56% share of total exports. Moreover, knitted ski-suit exports to Australia exceeded the volume sent to the second major destination, Hong Kong SAR (X units), twofold. The United States (X units) ranked third in terms of total exports with a 9.4% share.

From 2012 to 2022, the average annual growth rate of volume to Australia stood at +32.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (0.0% per year) and the United States (+7.6% per year).

In value terms, Hong Kong SAR ($X), Australia ($X) and the United States ($X) were the largest markets for knitted ski-suit exported from Sri Lanka worldwide, together comprising 90% of total exports.

Among the main countries of destination, Australia, with a CAGR of +30.3%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average knitted ski-suit export price amounted to $X per unit, growing by 82% against the previous year. In general, the export price saw a modest expansion. The pace of growth appeared the most rapid in 2015 when the average export price increased by 139%. As a result, the export price attained the peak level of $X per unit. From 2016 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per unit), while the average price for exports to Australia ($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 the Czech Republic (+9.6%), while the prices for the other major destinations experienced more modest paces of growth.

Knitted Ski-Suit Imports

Imports into Sri Lanka

In 2022, approx. X units of ski-suits of knitted or crocheted textiles were imported into Sri Lanka; dropping by -85% compared with the previous year. Over the period under review, imports continue to indicate a perceptible descent. The growth pace was the most rapid in 2016 with an increase of 366%. As a result, imports reached the peak of X units. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, knitted ski-suit imports dropped rapidly to $X in 2022. In general, imports recorded a deep downturn. The growth pace was the most rapid in 2016 when imports increased by 287% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, India (X units) constituted the largest knitted ski-suit supplier to Sri Lanka, accounting for a 63% share of total imports. Moreover, knitted ski-suit imports from India exceeded the figures recorded by the second-largest supplier, Pakistan (X units), threefold. The third position in this ranking was held by Haiti (X units), with a 6.2% share.

From 2012 to 2022, the average annual growth rate of volume from India stood at +5.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Pakistan (0.0% per year) and Haiti (0.0% per year).

In value terms, Pakistan ($X), Haiti ($X) and India ($X) were the largest knitted ski-suit suppliers to Sri Lanka, together accounting for 77% of total imports.

Haiti, with a CAGR of 0.0%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average knitted ski-suit import price amounted to $X per unit, dropping by -66.1% against the previous year. In general, the import price recorded a deep downturn. The most prominent rate of growth was recorded in 2018 when the average import price increased by 80% against the previous year. The import price peaked at $X per unit in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+62.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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