Bicycle Tire Price in Sri Lanka - 2021
Contents:
- Bicycle Tire Price in Sri Lanka (FOB) - 2022
- Bicycle Tire Price in Sri Lanka (CIF) - 2022
- Bicycle Tire Exports in Sri Lanka
- Bicycle Tire Imports in Sri Lanka
Bicycle Tire Price in Sri Lanka (FOB) - 2022
In 2022, the average bicycle tire export price amounted to $2.9 per unit, jumping by 18% against the previous year. Over the last decade, it increased at an average annual rate of +1.2%. The pace of growth was the most pronounced in 2018 when the average export price increased by 18% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the near future.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($6 per unit), while the average price for exports to Italy ($1.9 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 Sweden (+9.8%), while the prices for the other major destinations experienced more modest paces of growth.
Bicycle Tire Price in Sri Lanka (CIF) - 2022
The average bicycle tire import price stood at $8.8 per unit in 2022, growing by 45% against the previous year. Overall, the import price saw a prominent increase. The most prominent rate of growth was recorded in 2018 an increase of 177% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the immediate term.
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 China ($9.3 per unit), while the price for India totaled $2.2 per unit.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+20.0%).
Bicycle Tire Exports in Sri Lanka
Bicycle tire exports from Sri Lanka totaled 8.5M units in 2022, with an increase of 1.9% against the previous year's figure. The total export volume increased at an average annual rate of +1.2% from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 13%. Over the period under review, the exports reached the peak figure in 2022 and are likely to continue growth in the immediate term.
In value terms, bicycle tire exports surged to $24M in 2022. In general, total exports indicated a remarkable increase from 2019 to 2022: its value increased at an average annual rate of +10.5% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +53.5% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 28% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the immediate term.
| Export of Bicycle Tire in Sri Lanka (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Tanzania | 4.9 | 4.9 | 5.7 | 8.3 | 19.2% |
| Brazil | 3.1 | 3.1 | 5.6 | 5.2 | 18.8% |
| Netherlands | 1.0 | 0.6 | 1.5 | 1.5 | 14.5% |
| Italy | 0.7 | 0.6 | 0.9 | 1.3 | 22.9% |
| United Arab Emirates | 0.6 | 0.3 | 0.5 | 0.9 | 14.5% |
| Bangladesh | 0.1 | 0.3 | 0.7 | 0.8 | 100.0% |
| Germany | 0.2 | 0.1 | 0.6 | 0.8 | 58.7% |
| Egypt | 0.5 | 0.4 | 0.2 | 0.5 | 0.0% |
| Sweden | N/A | 0.1 | 0.3 | 0.5 | 123.6% |
| India | 0.4 | 0.2 | 0.2 | 0.4 | 0.0% |
| Guinea | 0.3 | 0.2 | 0.3 | 0.3 | 0.0% |
| Romania | 1.6 | 0.7 | 0.1 | 0.1 | -60.3% |
| Portugal | 0.7 | 0.4 | 0.2 | 0.1 | -47.7% |
| Others | 4.2 | 3.9 | 3.6 | 3.7 | -4.1% |
| Total | 18.2 | 15.9 | 20.4 | 24.5 | 10.4% |
Top Export Markets for Bicycle Tire from Sri Lanka in 2022:
- Tanzania (2777.7K units)
- Brazil (1944.2K units)
- Italy (666.4K units)
- Netherlands (444.2K units)
- Germany (289.4K units)
- Bangladesh (271.9K units)
- Egypt (174.5K units)
- India (155.0K units)
- Guinea (155.0K units)
- United Arab Emirates (154.5K units)
- Sweden (149.1K units)
- Romania (70.3K units)
- Portugal (16.9K units)
Bicycle Tire Imports in Sri Lanka
In 2022, supplies from abroad of new pneumatic tyres for bicycles decreased by -22% to 132K units for the first time since 2018, thus ending a three-year rising trend. In general, imports, however, recorded a significant expansion. The growth pace was the most rapid in 2021 with an increase of 233%. As a result, imports attained the peak of 169K units, and then fell markedly in the following year.
In value terms, bicycle tire imports rose sharply to $1.2M in 2022. Overall, imports, however, recorded a significant increase. The most prominent rate of growth was recorded in 2021 when imports increased by 199%. Imports peaked in 2022 and are likely to see steady growth in the near future.
| Import of Bicycle Tire in Sri Lanka (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 213 | 316 | 914 | 1,138 | 74.8% |
| India | 10.4 | 4.0 | 15.1 | 18.4 | 20.9% |
| Others | 21.0 | 23.9 | 99.9 | 7.6 | -28.7% |
| Total | 244 | 344 | 1,029 | 1,164 | 68.3% |
Top Suppliers of Bicycle Tire to Sri Lanka in 2022:
- China (122.3K units)
- India (8.2K units)
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