Speed Changer Price in Sri Lanka - 2021
Contents:
- Speed Changer Price in Sri Lanka (CIF) - 2022
- Speed Changer Price in Sri Lanka (FOB) - 2022
- Speed Changer Imports in Sri Lanka
- Speed Changer Exports in Sri Lanka
Speed Changer Price in Sri Lanka (CIF) - 2022
The average speed changer import price stood at $20,101 per ton in 2022, with an increase of 13% against the previous year. Overall, the import price, however, showed a mild reduction. Over the period under review, average import prices reached the peak figure at $23,123 per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.
Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from South Korea ($22,211 per ton) and Hong Kong SAR ($21,956 per ton), while the price for Singapore ($17,584 per ton) and France ($17,815 per ton) were amongst the lowest.
From 2013 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (-0.1%), while the prices for the other major suppliers experienced a decline.
Speed Changer Price in Sri Lanka (FOB) - 2022
The average speed changer export price stood at $25,259 per ton in 2022, rising by 49% against the previous year. Over the period under review, the export price continues to indicate a moderate increase. The growth pace was the most rapid in 2014 an increase of 85%. As a result, the export price attained the peak level of $36,965 per ton. From 2015 to 2022, the average export prices failed to regain momentum.
Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to India ($28,905 per ton) and Malaysia ($28,375 per ton), while the average price for exports to Italy ($22,364 per ton) and Oman ($22,777 per ton) were amongst the lowest.
From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Saudi Arabia (+1,401.9%), while the prices for the other major destinations experienced more modest paces of growth.
Speed Changer Imports in Sri Lanka
In 2022, after three years of growth, there was significant decline in supplies from abroad of speed changers, industrial high-speed drives and gear, when their volume decreased by -32.6% to 411 tons. Over the period under review, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 34%. As a result, imports reached the peak of 610 tons, and then fell markedly in the following year.
In value terms, speed changer imports plummeted to $8.3M in 2022. The total import value increased at an average annual rate of +3.8% 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 33% against the previous year. As a result, imports reached the peak of $11M, and then reduced markedly in the following year.
| Import of Speed Changer in Sri Lanka (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 1,684 | 2,035 | 3,404 | 2,100 | 7.6% |
| India | 1,090 | 1,496 | 2,084 | 1,519 | 11.7% |
| Germany | 875 | 1,169 | 950 | 1,386 | 16.6% |
| Hong Kong SAR | 65.0 | 39.4 | 41.5 | 590 | 108.6% |
| Italy | 572 | 384 | 359 | 426 | -9.4% |
| South Korea | 437 | 451 | 385 | 302 | -11.6% |
| United States | 463 | 136 | 641 | 229 | -20.9% |
| United Kingdom | 232 | 147 | 71.2 | 214 | -2.7% |
| Denmark | 355 | 278 | 167 | 207 | -16.5% |
| Japan | 281 | 243 | 375 | 171 | -15.3% |
| Singapore | 284 | 441 | 313 | 161 | -17.2% |
| France | 108 | 112 | 186 | 134 | 7.5% |
| Iran | 105 | 104 | 159 | N/A | 23.1% |
| Others | 839 | 1,064 | 1,674 | 827 | -0.5% |
| Total | 7,391 | 8,101 | 10,810 | 8,266 | 3.8% |
Top Suppliers of Speed Changer to Sri Lanka in 2022:
- China (107.0 tons)
- India (76.8 tons)
- Germany (64.8 tons)
- Hong Kong SAR (26.9 tons)
- Italy (20.5 tons)
- South Korea (13.6 tons)
- United Kingdom (11.7 tons)
- United States (11.2 tons)
- Denmark (9.6 tons)
- Singapore (9.2 tons)
- Japan (8.2 tons)
- France (7.5 tons)
Speed Changer Exports in Sri Lanka
In 2022, overseas shipments of speed changers, industrial high-speed drives and gear decreased by -88.3% to 609 kg, falling for the second year in a row after two years of growth. In general, exports saw a dramatic curtailment. The pace of growth was the most pronounced in 2020 with an increase of 208%. As a result, the exports reached the peak of 20 tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.
In value terms, speed changer exports declined notably to $15K in 2022. Over the period under review, exports showed a dramatic decline. The pace of growth appeared the most rapid in 2020 with an increase of 216% against the previous year. As a result, the exports attained the peak of $381K. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.
| Export of Speed Changer in Sri Lanka (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Maldives | 7.1 | 6.8 | 0.9 | 5.1 | -10.4% |
| Singapore | 1.4 | 7.5 | 0.9 | 2.8 | 26.0% |
| Oman | 6.2 | 5.9 | 1.3 | 2.8 | -23.3% |
| Australia | 1.2 | 3.0 | 0.7 | 1.6 | 10.1% |
| Malaysia | 2.3 | 1.5 | 0.2 | 0.9 | -26.9% |
| India | 5.2 | 140 | 21.2 | 0.6 | -51.3% |
| Japan | 1.6 | 4.2 | 1.0 | 0.4 | -37.0% |
| Kenya | 3.7 | 1.1 | 0.1 | 0.3 | -56.7% |
| Italy | 0.4 | 0.8 | 0.1 | 0.2 | -20.6% |
| Cote d'Ivoire | N/A | 2.8 | N/A | N/A | 0% |
| South Korea | 17.4 | 44.1 | 11.2 | N/A | -19.8% |
| Germany | 2.4 | 7.5 | 5.0 | N/A | 44.3% |
| United Kingdom | 11.8 | 8.3 | 1.6 | N/A | -63.2% |
| Others | 59.9 | 148 | 44.3 | 0.8 | -76.3% |
| Total | 121 | 381 | 88.4 | 15.4 | -49.7% |
Top Export Markets for Speed Changer from Sri Lanka in 2022:
- Maldives (201.0 kg)
- Oman (121.0 kg)
- Singapore (101.0 kg)
- Australia (69.0 kg)
- Malaysia (32.0 kg)
- India (21.0 kg)
- Japan (13.0 kg)
- Italy (11.0 kg)
- Kenya (11.0 kg)
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