Price for Lubricating Preparations Not for the Treatment of Materials in Sri Lanka - 2022

Contents:

1. Price for Lubricating Preparations Not for the Treatment of Materials in Sri Lanka (CIF) - 2022
2. Price for Lubricating Preparations Not for the Treatment of Materials in Sri Lanka (FOB) - 2022
3. Imports of Lubricating Preparations Not for the Treatment of Materials in Sri Lanka
4. Exports of Lubricating Preparations Not for the Treatment of Materials in Sri Lanka

Price for Lubricating Preparations Not for the Treatment of Materials in Sri Lanka (CIF) - 2022

In 2022, the average import price for lubricating preparations not for the treatment of materials amounted to $4,616 per ton, picking up by 21% against the previous year. Over the last decade, it increased at an average annual rate of +4.3%. The most prominent rate of growth was recorded in 2013 an increase of 27%. The import price peaked 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 the United States ($12,401 per ton), while the price for Pakistan ($1,155 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+12.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Lubricating Preparations Not for the Treatment of Materials in Sri Lanka (FOB) - 2022

The average export price for lubricating preparations not for the treatment of materials stood at $2,179 per ton in 2022, with an increase of 1.9% against the previous year. In general, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 23%. As a result, the export price attained the peak level of $2,449 per ton. From 2019 to 2022, the average export prices failed to regain momentum.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Bangladesh ($2,610 per ton), while the average price for exports to India stood at $1,981 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Bangladesh (+1.2%).

Imports of Lubricating Preparations Not for the Treatment of Materials in Sri Lanka

In 2022, approx. 3.6K tons of lubricating preparations not for the treatment of materials were imported into Sri Lanka; which is down by -31.7% on 2021. Overall, imports recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2021 when imports increased by 26% against the previous year. As a result, imports attained the peak of 5.3K tons, and then contracted rapidly in the following year.

In value terms, imports of lubricating preparations not for the treatment of materials contracted rapidly to $17M in 2022. The total import value increased at an average annual rate of +1.5% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 37%. As a result, imports attained the peak of $20M, and then contracted markedly in the following year.

Top Suppliers of Lubricating Preparations Not for the Treatment of Materials to Sri Lanka in 2022:

1. India (1234.8 tons)
2. Malaysia (332.4 tons)
3. Germany (330.4 tons)
4. China (315.6 tons)
5. Singapore (200.2 tons)
6. Italy (196.3 tons)
7. South Korea (188.7 tons)
8. United States (151.8 tons)
9. United Arab Emirates (122.4 tons)
10. Taiwan (Chinese) (87.0 tons)
11. Japan (56.7 tons)
12. Pakistan (55.1 tons)
13. Argentina (54.1 tons)

Exports of Lubricating Preparations Not for the Treatment of Materials in Sri Lanka

Exports of lubricating preparations not for the treatment of materials from Sri Lanka expanded remarkably to 1.7K tons in 2022, growing by 6.3% on 2021. Over the period under review, total exports indicated a remarkable increase from 2019 to 2022: its volume increased at an average annual rate of +14.4% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +59.6% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 50%. The exports peaked in 2022 and are likely to see steady growth in years to come.

In value terms, exports of lubricating preparations not for the treatment of materials rose notably to $3.8M in 2022. Overall, total exports indicated strong growth from 2019 to 2022: its value increased at an average annual rate of +15.5% 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 +72.9% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 60% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.

Top Export Markets for Lubricating Preparations Not for the Treatment of Materials from Sri Lanka in 2022:

1. India (1502.8 tons)
2. Bangladesh (205.7 tons)
3. Pakistan (15.6 tons)