Sri Lanka: Tap And Valve Market 2024

Tap And Valve Exports

Exports from Sri Lanka

In 2022, approx. X tons of taps, cocks, valves and similar appliances were exported from Sri Lanka; picking up by 42% on the previous year. In general, exports saw a significant expansion. The growth pace was the most rapid in 2013 when exports increased by 532% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, tap and valve exports soared to $X in 2022. Overall, exports posted a resilient increase. The pace of growth appeared the most rapid in 2013 when exports increased by 277% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Thailand (X tons) was the main destination for tap and valve exports from Sri Lanka, accounting for a 81% share of total exports. Moreover, tap and valve exports to Thailand exceeded the volume sent to the second major destination, Australia (X tons), more than tenfold. India (X tons) ranked third in terms of total exports with a 3.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Thailand stood at +95.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+243.1% per year) and India (+16.3% per year).

In value terms, Thailand ($X) emerged as the key foreign market for taps, cocks, valves and similar appliances exports from Sri Lanka, comprising 58% of total exports. The second position in the ranking was held by Australia ($X), with a 16% share of total exports. It was followed by Maldives, with a 6% share.

From 2012 to 2022, the average annual growth rate of value to Thailand amounted to +89.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+218.4% per year) and Maldives (+0.6% per year).

Export Prices by Country

The average tap and valve export price stood at $X per ton in 2022, declining by -3.3% against the previous year. Over the period under review, the export price continues to indicate a deep slump. The growth pace was the most rapid in 2015 an increase of 31%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Maldives ($X per ton), while the average price for exports to Thailand ($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 Seychelles (+2.8%), while the prices for the other major destinations experienced mixed trend patterns.

Tap And Valve Imports

Imports into Sri Lanka

In 2022, the amount of taps, cocks, valves and similar appliances imported into Sri Lanka contracted markedly to X tons, waning by -32.8% compared with the previous year. Over the period under review, total imports indicated a modest increase from 2012 to 2022: its volume increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 when imports increased by 38%. Over the period under review, imports attained the maximum at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, tap and valve imports reduced rapidly to $X in 2022. Overall, total imports indicated slight growth from 2012 to 2022: its value increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -30.6% against 2017 indices. The pace of growth appeared the most rapid in 2014 when imports increased by 47% against the previous year. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest tap and valve supplier to Sri Lanka, with a 57% share of total imports. Moreover, tap and valve imports from China exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), sixfold. The third position in this ranking was taken by India (X tons), with a 9.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +2.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-2.3% per year) and India (+6.4% per year).

In value terms, China ($X) constituted the largest supplier of taps, cocks, valves and similar appliances to Sri Lanka, comprising 30% of total imports. The second position in the ranking was taken by India ($X), with an 8.3% share of total imports. It was followed by Germany, with an 8.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: India (+3.5% per year) and Germany (+3.7% per year).

Import Prices by Country

In 2022, the average tap and valve import price amounted to $X per ton, growing by 12% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of 17% against the previous year. As a result, import price attained the peak level of $X per ton. From 2019 to 2022, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+8.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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