Southern Asia: Spades And Shovels Market 2024

Spades And Shovels Market Size in Southern Asia

The South Asian spades and shovels market stood at $X in 2023, surging by X% against the previous year. The total consumption indicated a buoyant 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 increased by X% against 2012 indices. The level of consumption peaked in 2023 and is likely to see gradual growth in years to come.

Spades And Shovels Production in Southern Asia

In value terms, spades and shovels production rose slightly to $X in 2023 estimated in export price. The total production indicated a resilient increase 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, production decreased by X% against 2021 indices. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, production attained the peak level at $X in 2021; however, from 2022 to 2023, production failed to regain momentum.

Spades And Shovels Exports

Exports in Southern Asia

In 2023, approx. X tons of spades and shovels were exported in Southern Asia; dropping by X% compared with the previous year. Over the period under review, exports showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2022 to 2023, the growth of the exports remained at a somewhat lower figure.

In value terms, spades and shovels exports reduced rapidly to $X in 2023. Overall, exports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2022 to 2023, the growth of the exports remained at a lower figure.

Exports by Country

The biggest shipments were from India (X tons), together resulting at X% of total export.

India experienced a relatively flat trend pattern with regard to volume of exports of spades and shovels. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest spades and shovels supplier in Southern Asia.

In India, spades and shovels exports remained relatively stable over the period from 2012-2023.

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2023, dropping by X% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2022 when the export price increased by X%. Over the period under review, the export prices hit record highs at $X per ton in 2014; however, from 2015 to 2023, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for India.

From 2012 to 2023, the rate of growth in terms of prices for India amounted to X% per year.

Spades And Shovels Imports

Imports in Southern Asia

In 2023, the amount of spades and shovels imported in Southern Asia surged to X tons, growing by X% on 2022. In general, imports enjoyed a strong increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, spades and shovels imports soared to $X in 2023. Over the period under review, imports posted buoyant growth. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. The level of import peaked in 2023 and is likely to see gradual growth in years to come.

Imports by Country

In 2023, India (X tons) was the key importer of spades and shovels, committing X% of total imports. Bangladesh (X tons) ranks second in terms of the total imports with a X% share, followed by Nepal (X%) and Sri Lanka (X%). Pakistan (X tons) followed a long way behind the leaders.

India was also the fastest-growing in terms of the spades and shovels imports, with a CAGR of X% from 2012 to 2023. At the same time, Pakistan (X%), Bangladesh (X%) and Sri Lanka (X%) displayed positive paces of growth. Nepal experienced a relatively flat trend pattern. From 2012 to 2023, the share of India, Bangladesh and Pakistan increased by X, X and X percentage points, respectively.

In value terms, the largest spades and shovels importing markets in Southern Asia were India ($X), Sri Lanka ($X) and Nepal ($X), together accounting for X% of total imports.

India, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main importing countries 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, waning by X% against the previous year. Import price indicated temperate growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 an increase of X%. Over the period under review, import prices reached the peak figure at $X per ton in 2022, and then contracted markedly in the following year.

Prices varied noticeably by country of destination: 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 mixed trends in the import price figures.

Source: IndexBox Platform