Sri Lanka: Market for Household Washing and Drying Machines 2024

Market Size for Household Washing and Drying Machines in Sri Lanka

The Sri Lankan washing and drying machine market reduced sharply to $X in 2022, declining by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption continues to indicate a abrupt downturn. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Exports of Household Washing and Drying Machines

Exports from Sri Lanka

In 2022, overseas shipments of household washing and drying machines decreased by X% to X units, falling for the third consecutive year after two years of growth. Overall, exports saw a abrupt contraction. The pace of growth was the most pronounced in 2014 when exports increased by X%. As a result, the exports attained the peak of X units. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, washing and drying machine exports shrank to $X in 2022. Over the period under review, exports continue to indicate a abrupt descent. The growth pace was the most rapid in 2018 when exports increased by X% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Maldives (X units) was the main destination for washing and drying machine exports from Sri Lanka, accounting for a X% share of total exports. Moreover, washing and drying machine exports to Maldives exceeded the volume sent to the second major destination, India (X units), threefold. The third position in this ranking was taken by Ethiopia (X units), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Maldives stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (X% per year) and Ethiopia (X% per year).

In value terms, Maldives ($X) remains the key foreign market for household washing and drying machines exports from Sri Lanka, comprising X% of total exports. The second position in the ranking was taken by Germany ($X), with a X% share of total exports. It was followed by India, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Maldives amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (X% per year) and India (X% per year).

Export Prices by Country

The average washing and drying machine export price stood at $X per unit in 2022, with an increase of X% against the previous year. In general, the export price, however, saw a pronounced slump. The pace of growth was the most pronounced in 2015 an increase of X%. The export price peaked at $X per unit in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per unit), while the average price for exports to Ethiopia ($X per unit) was amongst the lowest.

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

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Imports of Household Washing and Drying Machines

Imports into Sri Lanka

In 2022, supplies from abroad of household washing and drying machines decreased by X% to X units, falling for the fourth year in a row after two years of growth. Over the period under review, imports showed a abrupt contraction. The growth pace was the most rapid in 2015 with an increase of X%. Over the period under review, imports hit record highs at X units in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, washing and drying machine imports declined markedly to $X in 2022. In general, imports showed a deep downturn. The growth pace was the most rapid in 2015 with an increase of X% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

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

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

In value terms, India ($X) constituted the largest supplier of household washing and drying machines to Sri Lanka, comprising X% of total imports. The second position in the ranking was taken by China ($X), with a X% share of total imports. It was followed by Thailand, with an X% share.

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

Import Prices by Country

In 2022, the average washing and drying machine import price amounted to $X per unit, rising by X% against the previous year. In general, import price indicated a pronounced 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, washing and drying machine import price increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2016 when the average import price increased by X%. As a result, import price reached the peak level of $X per unit. From 2017 to 2022, the average import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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