Sri Lanka: Walking-Sticks And Whips Market 2024

Walking-Sticks And Whips Market Size in Sri Lanka

In 2021, the Sri Lankan walking-sticks and whips market increased by 58% to $X, rising for the second consecutive year after three years of decline. Overall, consumption saw strong growth. Over the period under review, the market reached the maximum level in 2021 and is likely to see gradual growth in the near future.

Walking-Sticks And Whips Exports

Exports from Sri Lanka

In 2021, approx. X kg of walking-sticks, seat-sticks, whips and riding-crops were exported from Sri Lanka; with a decrease of -13.7% on the year before. In general, exports continue to indicate a abrupt descent. The most prominent rate of growth was recorded in 2014 when exports increased by 126%. Over the period under review, the exports attained the maximum at X kg in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, walking-sticks and whips exports soared to $X in 2021. Overall, exports showed a deep downturn. The growth pace was the most rapid in 2014 when exports increased by 120% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Slovenia (X kg) was the main destination for walking-sticks and whips exports from Sri Lanka, accounting for a 76% share of total exports. Moreover, walking-sticks and whips exports to Slovenia exceeded the volume sent to the second major destination, Poland (X kg), tenfold. The third position in this ranking was taken by the United Arab Emirates (X kg), with a 7.9% share.

From 2012 to 2021, the average annual growth rate of volume to Slovenia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (0.0% per year) and the United Arab Emirates (-35.3% per year).

In value terms, Slovenia ($X) emerged as the key foreign market for walking-sticks and whips exports from Sri Lanka, comprising 74% of total exports. The second position in the ranking was held by Poland ($X), with an 8.7% share of total exports. It was followed by Switzerland, with a 6.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Slovenia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (0.0% per year) and Switzerland (0.0% per year).

Export Prices by Country

In 2021, the average walking-sticks and whips export price amounted to $X per ton, picking up by 69% against the previous year. Over the last nine-year period, it increased at an average annual rate of +3.4%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Switzerland ($X per ton), while the average price for exports to the United Arab Emirates ($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 Solomon Islands (+177.7%), while the prices for the other major destinations experienced mixed trend patterns.

Walking-Sticks And Whips Imports

Imports into Sri Lanka

In 2021, overseas purchases of walking-sticks, seat-sticks, whips and riding-crops increased by 105% to X tons, rising for the second year in a row after three years of decline. In general, imports continue to indicate a significant increase. The pace of growth was the most pronounced in 2020 when imports increased by 268%. Imports peaked in 2021 and are likely to see gradual growth in years to come.

In value terms, walking-sticks and whips imports rose markedly to $X in 2021. Overall, imports posted a strong increase. The most prominent rate of growth was recorded in 2015 with an increase of 189%. Over the period under review, imports hit record highs in 2021 and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of walking-sticks and whips to Sri Lanka, accounting for a 87% share of total imports. Moreover, walking-sticks and whips imports from China exceeded the figures recorded by the second-largest supplier, Pakistan (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume from China totaled +46.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Pakistan (-3.0% per year) and Taiwan (Chinese) (+5.1% per year).

In value terms, China ($X) constituted the largest supplier of walking-sticks and whips to Sri Lanka, comprising 80% of total imports. The second position in the ranking was taken by Pakistan ($X), with an 11% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +31.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Pakistan (-7.6% per year) and Taiwan (Chinese) (-1.3% per year).

Import Prices by Country

The average walking-sticks and whips import price stood at $X per ton in 2021, with a decrease of -45.9% against the previous year. In general, the import price saw a deep contraction. The most prominent rate of growth was recorded in 2013 when the average import price increased by 16%. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Pakistan ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Pakistan (-4.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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