Price for Cycles; Parts, Pedals and Crank-Gear, and Parts Thereof in Sri Lanka - 2022

Contents:

1. Price for Cycles; Parts, Pedals and Crank-Gear, and Parts Thereof in Sri Lanka (CIF) - 2022
2. Price for Cycles; Parts, Pedals and Crank-Gear, and Parts Thereof in Sri Lanka (FOB) - 2022
3. Imports of Cycles; Parts, Pedals and Crank-Gear, and Parts Thereof in Sri Lanka
4. Exports of Cycles; Parts, Pedals and Crank-Gear, and Parts Thereof in Sri Lanka

Price for Cycles; Parts, Pedals and Crank-Gear, and Parts Thereof in Sri Lanka (CIF) - 2022

The average import price for cycles; parts, pedals and crank-gear, and parts thereoves stood at $3,667 per ton in 2022, increasing by 47% against the previous year. Over the period under review, import price indicated strong growth from 2012 to 2022: its price increased at an average annual rate of +8.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for cycles; parts, pedals and crank-gear, and parts thereoves increased by +53.8% against 2013 indices. As a result, import price reached the peak level and is likely to continue 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 ($4,386 per ton), while the price for Japan ($782 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+10.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Cycles; Parts, Pedals and Crank-Gear, and Parts Thereof in Sri Lanka (FOB) - 2022

The average export price for cycles; parts, pedals and crank-gear, and parts thereoves stood at $13,847 per ton in 2022, surging by 367% against the previous year. Overall, the export price enjoyed a strong expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was India ($14,170 per ton), while the average price for exports to the Czech Republic totaled $10,784 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to India (+13.1%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Cycles; Parts, Pedals and Crank-Gear, and Parts Thereof in Sri Lanka

Imports of cycles; parts, pedals and crank-gear, and parts thereoves into Sri Lanka contracted rapidly to 943 tons in 2022, dropping by -26.9% on the year before. Overall, imports showed a abrupt decline. The most prominent rate of growth was recorded in 2021 with an increase of 17%. As a result, imports reached the peak of 1.3K tons, and then declined rapidly in the following year.

In value terms, imports of cycles; parts, pedals and crank-gear, and parts thereoves rose notably to $3.5M in 2022. The total import value increased at an average annual rate of +6.2% over the period from 2019 to 2022; however, the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2020 when imports increased by 8.3% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Top Suppliers of Cycles; Parts, Pedals and Crank-Gear, and Parts Thereof to Sri Lanka in 2022:

1. China (615.1 tons)
2. India (158.3 tons)
3. Hong Kong SAR (124.5 tons)
4. Japan (23.9 tons)

Exports of Cycles; Parts, Pedals and Crank-Gear, and Parts Thereof in Sri Lanka

In 2022, exports of cycles; parts, pedals and crank-gear, and parts thereoves from Sri Lanka surged to 23 tons, increasing by 564% on the previous year's figure. Overall, exports posted a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, exports of cycles; parts, pedals and crank-gear, and parts thereoves soared to $312K in 2022. In general, exports showed a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Top Export Markets for Cycles; Parts, Pedals and Crank-Gear, and Parts Thereof from Sri Lanka in 2022:

1. India (20.8 tons)
2. Czech Republic (1.1 tons)

Source: IndexBox Market Intelligence Platform