Sri Lanka: Water-Skis And Surfboards Market 2024

Water-Skis And Surfboards Market Size in Sri Lanka

In 2022, the Sri Lankan water-skis and surfboards market decreased by -67.5% to $X, falling for the second year in a row after seven years of growth. In general, consumption showed a abrupt decrease. Water-skis and surfboards consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Water-Skis And Surfboards Production in Sri Lanka

In value terms, water-skis and surfboards production rose to $X in 2022 estimated in export price. Overall, production saw buoyant growth. The most prominent rate of growth was recorded in 2019 with an increase of 25%. Water-skis and surfboards production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Water-Skis And Surfboards Exports

Exports from Sri Lanka

In 2022, overseas shipments of water-skis, surfboards and sailboards increased by 52% to X units, rising for the fifth consecutive year after four years of decline. In general, exports continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2019 with an increase of 64%. Over the period under review, the exports attained the maximum in 2022 and are likely to continue growth in the near future.

In value terms, water-skis and surfboards exports fell to $X in 2022. Overall, exports enjoyed a prominent expansion. The pace of growth appeared the most rapid in 2019 when exports increased by 67%. Over the period under review, the exports hit record highs at $X in 2021, and then reduced in the following year.

Exports by Country

Austria (X units), Germany (X units) and the Netherlands (X units) were the main destinations of water-skis and surfboards exports from Sri Lanka, together accounting for 69% of total exports. The United States, China, Brazil, Australia, France, Switzerland, Italy and Spain lagged somewhat behind, together comprising a further 23%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by China (with a CAGR of +48.4%), while the other leaders experienced more modest paces of growth.

In value terms, Austria ($X), Germany ($X) and the United States ($X) constituted the largest markets for water-skis and surfboards exported from Sri Lanka worldwide, with a combined 70% share of total exports. The Netherlands, China, Brazil, Australia, France, Switzerland, Italy and Spain lagged somewhat behind, together accounting for a further 22%.

The Netherlands, with a CAGR of +40.4%, saw the highest growth rate of the value of exports, among 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

The average water-skis and surfboards export price stood at $X per unit in 2022, with a decrease of -43.8% against the previous year. In general, the export price, however, saw a mild increase. The most prominent rate of growth was recorded in 2016 an increase of 36%. Over the period under review, the average export prices hit record highs at $X per unit in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Austria ($X per unit) and the United States ($X per unit), while the average price for exports to Italy ($X per unit) and France ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+3.4%), while the prices for the other major destinations experienced more modest paces of growth.

Water-Skis And Surfboards Imports

Imports into Sri Lanka

In 2022, the amount of water-skis, surfboards and sailboards imported into Sri Lanka reduced rapidly to X units, which is down by -80.4% on the previous year. Overall, imports saw a abrupt slump. The growth pace was the most rapid in 2021 with an increase of 132%. Over the period under review, imports hit record highs at X units in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, water-skis and surfboards imports shrank markedly to $X in 2022. In general, imports saw a deep downturn. The most prominent rate of growth was recorded in 2021 when imports increased by 140% against the previous year. Over the period under review, imports reached the maximum at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

China (X units), Finland (X units) and Australia (X units) were the main suppliers of water-skis and surfboards imports to Sri Lanka, together accounting for 79% of total imports.

From 2012 to 2022, the biggest increases were recorded for Finland (with a CAGR of +125.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Finland ($X) and Australia ($X) appeared to be the largest water-skis and surfboards suppliers to Sri Lanka, together comprising 78% of total imports.

Among the main suppliers, Finland, with a CAGR of +95.2%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average water-skis and surfboards import price stood at $X per unit in 2022, reducing by -6.1% against the previous year. Over the last decade, it increased at an average annual rate of +1.5%. The growth pace was the most rapid in 2019 an increase of 24% against the previous year. The import price peaked at $X per unit in 2021, and then dropped in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Austria ($X per unit) and Germany ($X per unit), while the price for Malaysia ($X per unit) and Taiwan (Chinese) ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+2.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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