Sri Lanka: Umbrella And Walking-Stick Market 2024

Umbrella And Walking-Stick Market Size in Sri Lanka

The Sri Lankan umbrella and walking-stick market declined to $X in 2022, with a decrease of -6.2% against the previous year. Overall, consumption saw a abrupt setback. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Umbrella And Walking-Stick Production in Sri Lanka

In value terms, umbrella and walking-stick production dropped to $X in 2022 estimated in export price. In general, production continues to indicate a abrupt decrease. The growth pace was the most rapid in 2015 when the production volume increased by 33%. Umbrella and walking-stick production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Umbrella And Walking-Stick Exports

Exports from Sri Lanka

In 2022, exports of umbrellas and walking-sticks from Sri Lanka skyrocketed to X units, surging by 34% on the previous year. Overall, exports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 326% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to continue growth in years to come.

In value terms, umbrella and walking-stick exports skyrocketed to $X in 2022. Over the period under review, exports posted resilient growth. The pace of growth appeared the most rapid in 2017 when exports increased by 111%. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in years to come.

Exports by Country

The UK (X units), India (X units) and Germany (X units) were the main destinations of umbrella and walking-stick exports from Sri Lanka, together comprising 77% of total exports. Maldives, Australia, the United States, Turkey and Seychelles lagged somewhat behind, together comprising a further 21%.

From 2012 to 2022, the biggest increases were recorded for Australia (with a CAGR of +89.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Maldives ($X), the UK ($X) and India ($X) appeared to be the largest markets for umbrella and walking-stick exported from Sri Lanka worldwide, with a combined 73% share of total exports. Germany, Australia, Turkey, the United States and Seychelles lagged somewhat behind, together comprising a further 23%.

Australia, with a CAGR of +92.9%, 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 umbrella and walking-stick export price amounted to $X per unit, remaining stable against the previous year. Overall, the export price, however, recorded a abrupt decline. The most prominent rate of growth was recorded in 2015 an increase of 29% against the previous year. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Maldives ($X per unit), while the average price for exports to the UK ($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 Seychelles (+6.3%), while the prices for the other major destinations experienced more modest paces of growth.

Umbrella And Walking-Stick Imports

Imports into Sri Lanka

In 2022, umbrella and walking-stick imports into Sri Lanka reduced notably to X units, shrinking by -27.6% on 2021. Overall, imports saw a noticeable downturn. The pace of growth was the most pronounced in 2015 when imports increased by 88%. Imports peaked at X units in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, umbrella and walking-stick imports contracted dramatically to $X in 2022. In general, imports continue to indicate a mild setback. The pace of growth appeared the most rapid in 2013 when imports increased by 129% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, China (X units) was the main supplier of umbrella and walking-stick to Sri Lanka, with a 90% share of total imports. Moreover, umbrella and walking-stick imports from China exceeded the figures recorded by the second-largest supplier, Hong Kong SAR (X units), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (+19.2% per year) and India (-11.3% per year).

In value terms, the largest umbrella and walking-stick suppliers to Sri Lanka were China ($X), Hong Kong SAR ($X) and India ($X), together comprising 90% of total imports.

In terms of the main suppliers, Hong Kong SAR, with a CAGR of +40.8%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2022, the average umbrella and walking-stick import price amounted to $X per unit, falling by -18.5% against the previous year. Over the period under review, import price indicated a noticeable increase from 2012 to 2022: its price increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, umbrella and walking-stick import price decreased by -43.5% against 2020 indices. The most prominent rate of growth was recorded in 2019 when the average import price increased by 49%. The import price peaked at $X per unit in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Hong Kong SAR ($X per unit), while the price for India ($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 (+18.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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