Southern Asia: Sails Market 2024

Sails Market Size in Southern Asia

The South Asian sails market skyrocketed to $X in 2023, with an increase of X% against the previous year. The total consumption indicated a pronounced expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2021 indices. The level of consumption peaked at $X in 2021; however, from 2022 to 2023, consumption stood at a somewhat lower figure.

Sails Production in Southern Asia

In value terms, sails production expanded significantly to $X in 2023 estimated in export price. Overall, production recorded a prominent expansion. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2022 to 2023, production growth remained at a lower figure.

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Sails Exports

Exports in Southern Asia

In 2023, overseas shipments of sails decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. Total exports indicated a resilient increase from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2018 with an increase of X%. Over the period under review, the exports hit record highs at X tons in 2022, and then contracted in the following year.

In value terms, sails exports reduced slightly to $X in 2023. Overall, exports, however, enjoyed a buoyant expansion. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2022, and then shrank in the following year.

Exports by Country

Sri Lanka dominates exports structure, amounting to X tons, which was approx. X% of total exports in 2023. Pakistan (X tons) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to sails exports from Sri Lanka stood at X%. At the same time, Pakistan (X%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing exporter exported in Southern Asia, with a CAGR of X% from 2012-2023. While the share of Pakistan (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Sri Lanka (X p.p.) displayed negative dynamics.

In value terms, Sri Lanka ($X) remains the largest sails supplier in Southern Asia, comprising X% of total exports. The second position in the ranking was taken by Pakistan ($X), with a X% share of total exports.

In Sri Lanka, sails exports increased at an average annual rate of X% over the period from 2012-2023.

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2023, surging by X% against the previous year. Over the last eleven-year period, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2016 when the export price increased by X%. Over the period under review, the export prices hit record highs at $X per ton in 2017; however, from 2018 to 2023, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Sri Lanka ($X per ton), while Pakistan stood at $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Pakistan (X%).

Sails Imports

Imports in Southern Asia

In 2023, approx. X tons of sails were imported in Southern Asia; picking up by X% against 2022. In general, imports posted a slight expansion. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. As a result, imports reached the peak of X tons. From 2022 to 2023, the growth of imports remained at a lower figure.

In value terms, sails imports shrank to $X in 2023. Overall, imports continue to indicate prominent growth. The most prominent rate of growth was recorded in 2016 when imports increased by X%. The level of import peaked at $X in 2022, and then dropped in the following year.

Imports by Country

The countries with the highest levels of sails imports in 2023 were Sri Lanka (X tons), Pakistan (X tons), Maldives (X tons) and India (X tons), together accounting for X% of total import. Bangladesh (X kg) followed a long way behind the leaders.

From 2012 to 2023, the biggest increases were recorded for Pakistan (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest sails importing markets in Southern Asia were Sri Lanka ($X), Maldives ($X) and India ($X), with a combined X% share of total imports. Pakistan and Bangladesh lagged somewhat behind, together comprising a further X%.

In terms of the main importing countries, Pakistan, with a CAGR of X%, saw the highest growth rate of 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

In 2023, the import price in Southern Asia amounted to $X per ton, with a decrease of X% against the previous year. Overall, the import price, however, recorded a buoyant expansion. The most prominent rate of growth was recorded in 2022 an increase of X%. As a result, import price attained the peak level of $X per ton, and then shrank in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Sri Lanka ($X per ton), while Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Sri Lanka (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform