Sri Lanka: Threaded Metal Articles Market 2024

Threaded Metal Articles Market Size in Sri Lanka

The Sri Lankan threaded metal articles market declined slightly to $X in 2021, waning by -4.2% against the previous year. Over the period under review, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2016; however, from 2017 to 2021, consumption stood at a somewhat lower figure.

Threaded Metal Articles Production in Sri Lanka

In value terms, threaded metal articles production stood at $X in 2021 estimated in export price. In general, production showed a slight slump. The pace of growth was the most pronounced in 2019 when the production volume increased by 46% against the previous year. Threaded metal articles production peaked at $X in 2016; however, from 2017 to 2021, production remained at a lower figure.

Threaded Metal Articles Exports

Exports from Sri Lanka

In 2021, the amount of threaded articles of iron or steel exported from Sri Lanka skyrocketed to X tons, growing by 2,046% against the previous year's figure. Over the period under review, exports recorded significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, threaded metal articles exports skyrocketed to $X in 2021. In general, exports posted a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for threaded metal articles exports from Sri Lanka, accounting for a 30% share of total exports. Moreover, threaded metal articles exports to the United States exceeded the volume sent to the second major destination, the Netherlands (X tons), sixfold. The third position in this ranking was held by India (X tons), with a 2% share.

From 2012 to 2021, the average annual growth rate of volume to the United States stood at +1,268.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+241.8% per year) and India (-8.4% per year).

In value terms, the United States ($X) remains the key foreign market for threaded articles of iron or steel exports from Sri Lanka, comprising 97% of total exports. The second position in the ranking was held by the Netherlands ($X), with a 0.7% share of total exports. It was followed by India, with a 0.4% share.

From 2012 to 2021, the average annual growth rate of value to the United States totaled +973.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+131.8% per year) and India (-18.2% per year).

Export Prices by Country

The average threaded metal articles export price stood at $X per ton in 2021, growing by 85% against the previous year. Over the period under review, the export price showed a resilient increase. The pace of growth was the most pronounced in 2019 when the average export price increased by 93% against the previous year. The export price peaked in 2021 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to China ($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 Kenya (+13.6%), while the prices for the other major destinations experienced a decline.

Threaded Metal Articles Imports

Imports into Sri Lanka

Threaded metal articles imports into Sri Lanka rose modestly to X tons in 2021, with an increase of 3.8% compared with 2020 figures. Overall, total imports indicated a noticeable expansion from 2012 to 2021: its volume increased at an average annual rate of +4.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -23.2% against 2019 indices. The pace of growth was the most pronounced in 2017 with an increase of 58%. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, threaded metal articles imports surged to $X in 2021. Over the period under review, imports enjoyed a resilient expansion. The pace of growth was the most pronounced in 2017 when imports increased by 94%. Over the period under review, imports reached the peak figure at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest threaded metal articles supplier to Sri Lanka, accounting for a 75% share of total imports. Moreover, threaded metal articles imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), fivefold. The third position in this ranking was taken by the United Arab Emirates (X tons), with a 3.9% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +2.7%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+19.4% per year) and the United Arab Emirates (+37.3% per year).

In value terms, China ($X) constituted the largest supplier of threaded articles of iron or steel to Sri Lanka, comprising 44% of total imports. The second position in the ranking was taken by India ($X), with a 12% share of total imports. It was followed by Malaysia, with a 6.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +9.5%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+19.5% per year) and Malaysia (+45.7% per year).

Import Prices by Country

In 2021, the average threaded metal articles import price amounted to $X per ton, growing by 17% against the previous year. Over the period under review, import price indicated a resilient expansion from 2012 to 2021: its price increased at an average annual rate of +5.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2016 an increase of 38% against the previous year. The import price peaked in 2021 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Malaysia ($X per ton), while the price for China ($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 (+12.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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