Sri Lanka: Wood Barrel Market 2024

Wood Barrel Market Size in Sri Lanka

The Sri Lankan wood barrel market totaled $X in 2022, approximately reflecting the previous year. Overall, the total consumption indicated modest growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by X% against 2020 indices. Over the period under review, the market reached the peak level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Wood Barrel Production in Sri Lanka

In value terms, wood barrel production totaled $X in 2022 estimated in export price. Overall, the total production indicated slight growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased 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, production attained the peak level at $X in 2020; afterwards, it flattened through to 2022.

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Wood Barrel Exports

Exports from Sri Lanka

In 2022, approx. X units of casks, barrels, vats, tubs, and coopers products of wood were exported from Sri Lanka; which is down by X% against the previous year's figure. In general, exports saw a significant curtailment. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, the exports attained the maximum at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, wood barrel exports fell rapidly to $X in 2022. Overall, exports continue to indicate a precipitous shrinkage. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Germany (X units) was the main destination for wood barrel exports from Sri Lanka, accounting for a approx. X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany was relatively modest.

In value terms, Germany ($X) emerged as the key foreign market for casks, barrels, vats, tubs, and coopers products of wood exports from Sri Lanka.

From 2012 to 2022, the average annual growth rate of value to Germany amounted to X%.

Export Prices by Country

The average wood barrel export price stood at $X per unit in 2022, jumping by X% against the previous year. Over the period under review, the export price enjoyed a pronounced expansion. The pace of growth was the most pronounced in 2017 when the average export price increased by X% against the previous year. The export price peaked at $X per unit in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the rate of growth in terms of prices for Germany amounted to X% per year.

Wood Barrel Imports

Imports into Sri Lanka

In 2022, wood barrel imports into Sri Lanka shrank sharply to X units, with a decrease of X% on 2021 figures. Overall, imports recorded a dramatic decline. The pace of growth appeared the most rapid in 2019 when imports increased by X%. As a result, imports attained the peak of X units. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, wood barrel imports fell sharply to $X in 2022. Over the period under review, imports continue to indicate a deep downturn. The most prominent rate of growth was recorded in 2016 when imports increased by X%. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Singapore (X units) constituted the largest wood barrel supplier to Sri Lanka, accounting for a X% share of total imports. Moreover, wood barrel imports from Singapore exceeded the figures recorded by the second-largest supplier, Germany (X units), sixfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Singapore totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and Thailand (X% per year).

In value terms, Singapore ($X) constituted the largest supplier of casks, barrels, vats, tubs, and coopers products of wood to Sri Lanka, comprising X% of total imports. The second position in the ranking was held by Thailand ($X), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Singapore totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (X% per year) and Germany (X% per year).

Import Prices by Country

In 2022, the average wood barrel import price amounted to $X per unit, falling by X% against the previous year. Overall, the import price, however, saw a resilient increase. The most prominent rate of growth was recorded in 2016 an increase of X%. The import price peaked at $X per unit in 2021, and then fell in the following year.

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 Thailand ($X per unit), while the price for Germany ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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