Sri Lanka: Copper Wire Market 2024

Copper Wire Market Size in Sri Lanka

The Sri Lankan copper wire market contracted slightly to $X in 2022, dropping by X% against the previous year. Over the period under review, consumption showed a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Copper Wire Production in Sri Lanka

In value terms, copper wire production rose to $X in 2022 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. Copper wire production peaked at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

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Copper Wire Exports

Exports from Sri Lanka

Copper wire exports from Sri Lanka contracted slightly to X tons in 2022, waning by X% on 2021 figures. Over the period under review, exports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when exports increased by X% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, copper wire exports contracted sharply to $X in 2022. In general, exports continue to indicate a pronounced contraction. The growth pace was the most rapid in 2015 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

India (X tons) was the main destination for copper wire exports from Sri Lanka, with a X% share of total exports. Moreover, copper wire exports to India exceeded the volume sent to the second major destination, Vietnam (X tons), more than tenfold.

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

In value terms, India ($X) remains the key foreign market for copper wire exports from Sri Lanka, comprising X% of total exports. The second position in the ranking was held by Vietnam ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to India stood at X%.

Export Prices by Country

The average copper wire export price stood at $X per ton in 2022, waning by X% against the previous year. Over the period under review, the export price saw a noticeable decrease. The pace of growth appeared the most rapid in 2017 an increase of X% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to India stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Pakistan (X%), while the prices for the other major destinations experienced a decline.

Copper Wire Imports

Imports into Sri Lanka

In 2022, approx. X tons of copper wire were imported into Sri Lanka; dropping by X% compared with 2021. Over the period under review, imports saw a pronounced contraction. The growth pace was the most rapid in 2014 with an increase of X%. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, copper wire imports fell notably to $X in 2022. Overall, imports recorded a noticeable contraction. The pace of growth appeared the most rapid in 2021 when imports increased by X%. As a result, imports attained the peak of $X, and then declined significantly in the following year.

Imports by Country

In 2022, the United Arab Emirates (X tons) constituted the largest copper wire supplier to Sri Lanka, accounting for a X% share of total imports. Moreover, copper wire imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, India (X tons), twofold. Malaysia (X tons) ranked third in terms of total imports with a X% share.

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

In value terms, the United Arab Emirates ($X) constituted the largest supplier of copper wire to Sri Lanka, comprising X% of total imports. The second position in the ranking was taken by India ($X), with a X% share of total imports. It was followed by Malaysia, with a X% share.

From 2012 to 2022, the average annual growth rate of value from the United Arab Emirates amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and Malaysia (X% per year).

Import Prices by Country

In 2022, the average copper wire import price amounted to $X per ton, with a decrease of X% against the previous year. Over the period under review, import price indicated a mild increase from 2012 to 2022: its price 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, copper wire import price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton, and then fell in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Taiwan (Chinese) ($X per ton) and Malaysia ($X per ton), while the price for the United Arab Emirates ($X per ton) and India ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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