Sri Lanka: Data Storage Device Market 2024

Data Storage Device Market Size in Sri Lanka

In 2022, the Sri Lankan data storage device market decreased by -15% to $X, falling for the second year in a row after three years of growth. Over the period under review, consumption, however, showed a notable expansion. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Data Storage Device Exports

Exports from Sri Lanka

In 2022, the amount of data storage devices exported from Sri Lanka surged to X units, increasing by 100% compared with the previous year's figure. Overall, exports, however, showed a abrupt decline. The pace of growth was the most pronounced in 2016 with an increase of 200%. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, data storage device exports surged to $X in 2022. Over the period under review, exports, however, saw a precipitous decrease. The pace of growth was the most pronounced in 2015 when exports increased by 147% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Singapore (X units), Maldives (X units) and Vietnam (X units) were the main destinations of data storage device exports from Sri Lanka, with a combined 69% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Vietnam (with a CAGR of +18,500.0%), while the other leaders experienced more modest paces of growth.

In value terms, Maldives ($X), Singapore ($X) and Hong Kong SAR ($X) constituted the largest markets for data storage device exported from Sri Lanka worldwide, together comprising 78% of total exports. Thailand, Papua New Guinea, Taiwan (Chinese) and Vietnam lagged somewhat behind, together accounting for a further 18%.

Vietnam, with a CAGR of +642.4%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination 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 data storage device export price amounted to $X per unit, shrinking by -19.4% against the previous year. In general, the export price faced a drastic downturn. The pace of growth appeared the most rapid in 2014 an increase of 122%. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per unit), while the average price for exports to Vietnam ($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 Singapore (+5.5%), while the prices for the other major destinations experienced mixed trend patterns.

Data Storage Device Imports

Imports into Sri Lanka

In 2022, supplies from abroad of data storage devices decreased by -10.9% to X units, falling for the second consecutive year after three years of growth. In general, imports, however, showed a buoyant expansion. The pace of growth appeared the most rapid in 2019 when imports increased by 156% against the previous year. Imports peaked at X units in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, data storage device imports fell markedly to $X in 2022. Overall, imports showed a noticeable setback. The growth pace was the most rapid in 2021 when imports increased by 26% against the previous year. Imports peaked at $X in 2016; however, from 2017 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest data storage device supplier to Sri Lanka, with a 89% share of total imports. Moreover, data storage device imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X units), more than tenfold. The third position in this ranking was taken by Taiwan (Chinese) (X units), with a 1.7% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +52.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+53.6% per year) and Taiwan (Chinese) (-8.3% per year).

In value terms, China ($X) constituted the largest supplier of data storage devices to Sri Lanka, comprising 64% of total imports. The second position in the ranking was taken by Singapore ($X), with a 9% share of total imports. It was followed by Thailand, with a 7.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +41.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (-20.9% per year) and Thailand (+44.8% per year).

Import Prices by Country

The average data storage device import price stood at $X per unit in 2022, falling by -16.3% against the previous year. In general, the import price recorded a abrupt slump. The pace of growth appeared the most rapid in 2016 when the average import price increased by 51% against the previous year. Over the period under review, average import prices attained the maximum at $X per unit in 2017; however, from 2018 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+10.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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