Sri Lanka: Market for Vacuum Cleaners Without Motor 2024

Market Size for Vacuum Cleaners Without Motor in Sri Lanka

The Sri Lankan vacuum cleaner without motor market fell notably to $X in 2022, waning by -61.7% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, saw pronounced growth. Vacuum cleaner without motor consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Exports of Vacuum Cleaners Without Motor

Exports from Sri Lanka

In 2022, approx. X units of vacuum cleaners without motor were exported from Sri Lanka; surging by 11% compared with the year before. Overall, exports enjoyed strong growth. The most prominent rate of growth was recorded in 2020 with an increase of 114% against the previous year. As a result, the exports attained the peak of X units. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, vacuum cleaner without motor exports soared to $X in 2022. Over the period under review, exports recorded a buoyant expansion. The pace of growth was the most pronounced in 2016 with an increase of 194% against the previous year. Over the period under review, the exports hit record highs at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

Japan (X units), Seychelles (X units) and India (X units) were the main destinations of vacuum cleaner without motor exports from Sri Lanka.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Japan (with a CAGR of +83.8%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for vacuum cleaner without motor exported from Sri Lanka were India ($X), Seychelles ($X) and Japan ($X).

In terms of the main countries of destination, Japan, with a CAGR of +51.2%, saw the highest growth rate of 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 vacuum cleaner without motor export price amounted to $X per unit, jumping by 67% against the previous year. Over the period under review, the export price, however, continues to indicate a pronounced contraction. Over the period under review, the average export prices hit record highs at $X per unit in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was India ($X per unit), while the average price for exports to Japan ($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 India (+16.9%), while the prices for the other major destinations experienced a decline.

Imports of Vacuum Cleaners Without Motor

Imports into Sri Lanka

In 2022, vacuum cleaner without motor imports into Sri Lanka declined rapidly to X units, with a decrease of -58.9% against the year before. In general, imports, however, showed strong growth. The most prominent rate of growth was recorded in 2021 when imports increased by 339% against the previous year. Over the period under review, imports attained the maximum at X units in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, vacuum cleaner without motor imports dropped significantly to $X in 2022. Overall, imports faced a abrupt descent. The growth pace was the most rapid in 2018 with an increase of 207% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, China (X units) was the main supplier of vacuum cleaner without motor to Sri Lanka, accounting for a 94% share of total imports. It was followed by the United Arab Emirates (X units), with a 2.3% share of total imports. Hong Kong SAR (X units) ranked third in terms of total imports with a 1% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +17.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+2.4% per year) and Hong Kong SAR (-12.7% per year).

In value terms, China ($X) constituted the largest supplier of vacuum cleaners without motor to Sri Lanka, comprising 32% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 3.5% share of total imports. It was followed by Singapore, with a 1.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled -3.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (-2.2% per year) and Singapore (-21.1% per year).

Import Prices by Country

The average vacuum cleaner without motor import price stood at $X per unit in 2022, falling by -45.5% against the previous year. Over the period under review, the import price saw a deep slump. The most prominent rate of growth was recorded in 2017 when the average import price increased by 61% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat 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 the UK ($X per unit), while the price for China ($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 (+6.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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