Sri Lanka: Veneer Sheet Market 2025

Veneer Sheet Exports

Exports from Sri Lanka

In 2022, shipments abroad of veneer sheets and sheets for plywood and other wood sawn lengthwise increased by 15% to X square meters, rising for the third year in a row after four years of decline. Over the period under review, exports continue to indicate a resilient increase. The pace of growth was the most pronounced in 2020 when exports increased by 2,082%. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.

In value terms, veneer sheet exports stood at $X in 2022. In general, exports posted a significant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 2,384%. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Vietnam (X square meters) was the main destination for veneer sheet exports from Sri Lanka, accounting for a 65% share of total exports. Moreover, veneer sheet exports to Vietnam exceeded the volume sent to the second major destination, Maldives (X square meters), twofold. The third position in this ranking was taken by India (X square meters), with a 3% share.

From 2012 to 2022, the average annual growth rate of volume to Vietnam totaled +50.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Maldives (+97.5% per year) and India (-18.0% per year).

In value terms, Vietnam ($X) remains the key foreign market for veneer sheets and sheets for plywood and other wood sawn lengthwise exports from Sri Lanka, comprising 78% of total exports. The second position in the ranking was held by Maldives ($X), with a 5.4% share of total exports. It was followed by India, with a 1.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Vietnam stood at +46.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Maldives (+75.3% per year) and India (+1.4% per year).

Export Prices by Country

In 2022, the average veneer sheet export price amounted to $X per square meter, dropping by -8.2% against the previous year. Overall, the export price, however, saw a buoyant increase. The most prominent rate of growth was recorded in 2019 an increase of 133% against the previous year. Over the period under review, the average export prices attained the maximum at $X per square meter in 2021, and then contracted in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per square meter), while the average price for exports to Ethiopia ($X per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to India (+23.6%), while the prices for the other major destinations experienced mixed trend patterns.

Veneer Sheet Imports

Imports into Sri Lanka

Veneer sheet imports into Sri Lanka reduced rapidly to X square meters in 2022, dropping by -30.9% against the year before. Over the period under review, imports showed a mild curtailment. The pace of growth was the most pronounced in 2015 when imports increased by 59%. Imports peaked at X square meters in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, veneer sheet imports fell notably to $X in 2022. Overall, imports, however, saw tangible growth. The growth pace was the most rapid in 2016 when imports increased by 53%. Over the period under review, imports reached the maximum at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X square meters) constituted the largest supplier of veneer sheet to Sri Lanka, with a 60% share of total imports. Moreover, veneer sheet imports from China exceeded the figures recorded by the second-largest supplier, Gabon (X square meters), twofold. Vietnam (X square meters) ranked third in terms of total imports with a 7% share.

From 2012 to 2022, the average annual growth rate of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Gabon (+32.6% per year) and Vietnam (+16.6% per year).

In value terms, China ($X) constituted the largest supplier of veneer sheets and sheets for plywood and other wood sawn lengthwise to Sri Lanka, comprising 61% of total imports. The second position in the ranking was taken by Gabon ($X), with a 19% share of total imports. It was followed by Myanmar, with a 7.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +4.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Gabon (+30.4% per year) and Myanmar (+2.6% per year).

Import Prices by Country

In 2022, the average veneer sheet import price amounted to $X per square meter, approximately mirroring the previous year. Over the period under review, import price indicated a resilient increase from 2012 to 2022: its price increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, veneer sheet import price decreased by -3.8% against 2019 indices. The pace of growth was the most pronounced in 2014 an increase of 57%. The import price peaked at $X per square meter in 2019; however, from 2020 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 Indonesia ($X per square meter), while the price for Vietnam ($X per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Myanmar (+29.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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