Sri Lanka: Combined Refrigerator-Freezer Market 2024

Combined Refrigerator-Freezer Market Size in Sri Lanka

The Sri Lankan combined refrigerator-freezer market fell notably to $X in 2022, declining by X% against the previous year. Over the period under review, consumption showed a slight reduction. Combined refrigerator-freezer consumption peaked at $X in 2021, and then fell remarkably in the following year.

Combined Refrigerator-Freezer Production in Sri Lanka

In value terms, combined refrigerator-freezer production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 with an increase of X%. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Combined Refrigerator-Freezer Exports

Exports from Sri Lanka

In 2022, shipments abroad of combined refrigerators-freezers increased by X% to X units, rising for the second year in a row after three years of decline. Over the period under review, exports enjoyed a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, combined refrigerator-freezer exports surged to $X in 2022. In general, exports saw a strong increase. The growth pace was the most rapid in 2016 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Maldives (X units) was the main destination for combined refrigerator-freezer exports from Sri Lanka, accounting for a X% share of total exports. Moreover, combined refrigerator-freezer exports to Maldives exceeded the volume sent to the second major destination, the United Arab Emirates (X units), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to Maldives totaled X%.

In value terms, Maldives ($X) remains the key foreign market for combined refrigerators-freezers exports from Sri Lanka, comprising X% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a X% share of total exports.

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

Export Prices by Country

The average combined refrigerator-freezer export price stood at $X per unit in 2022, dropping by X% against the previous year. Over the period under review, the export price showed a precipitous slump. The growth pace was the most rapid in 2016 an increase of X%. As a result, the export price reached the peak level of $X per unit. From 2017 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Maldives ($X per unit), while the average price for exports to the United Arab Emirates amounted to $X per unit.

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

Combined Refrigerator-Freezer Imports

Imports into Sri Lanka

In 2022, the amount of combined refrigerators-freezers imported into Sri Lanka declined notably to X units, waning by X% compared with 2021 figures. Over the period under review, imports continue to indicate a pronounced contraction. The pace of growth was the most pronounced in 2015 when imports increased by X%. Imports peaked at X units in 2021, and then dropped remarkably in the following year.

In value terms, combined refrigerator-freezer imports fell remarkably to $X in 2022. Overall, imports recorded a perceptible setback. The growth pace was the most rapid in 2015 with an increase of X%. Over the period under review, imports reached the peak figure at $X in 2021, and then fell dramatically in the following year.

Imports by Country

In 2022, India (X units) constituted the largest combined refrigerator-freezer supplier to Sri Lanka, accounting for a X% share of total imports. Moreover, combined refrigerator-freezer imports from India exceeded the figures recorded by the second-largest supplier, China (X units), twofold. The third position in this ranking was held by Thailand (X units), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from India amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Thailand (X% per year).

In value terms, the largest combined refrigerator-freezer suppliers to Sri Lanka were India ($X), China ($X) and Thailand ($X), with a combined X% share of total imports.

Among the main suppliers, China, with a CAGR of X%, saw the highest rates of growth with regard to 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

The average combined refrigerator-freezer import price stood at $X per unit in 2022, declining by X% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 an increase of X%. As a result, import price attained the peak level of $X per unit. From 2017 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was South Korea ($X per unit), while the price for Turkey ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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