Sri Lanka: Market for Industrial Sewing Machines (Non-Automatic) 2024

Market Size for Industrial Sewing Machines (Non-Automatic) in Sri Lanka

The Sri Lankan industrial sewing machines (non-automatic) market reduced sharply to $X in 2022, falling 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). Over the period under review, consumption, however, enjoyed a remarkable increase. Over the period under review, the market hit record highs at $X in 2021, and then declined remarkably in the following year.

Exports of Industrial Sewing Machines (Non-Automatic)

Exports from Sri Lanka

In 2022, after three years of growth, there was significant decline in overseas shipments of industrial sewing machines (non-automatic), when their volume decreased by X% to X units. In general, exports, however, posted a significant expansion. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2021, and then contracted dramatically in the following year.

In value terms, industrial sewing machines (non-automatic) exports shrank sharply to $X in 2022. Over the period under review, exports, however, recorded a significant expansion. The pace of growth was the most pronounced in 2016 when exports increased by X%. Over the period under review, the exports attained the peak figure at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

India (X units), China (X units) and Pakistan (X units) were the main destinations of industrial sewing machines (non-automatic) exports from Sri Lanka, with a combined X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by China (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X) emerged as the key foreign market for industrial sewing machines (non-automatic) exports from Sri Lanka, comprising X% of total exports. The second position in the ranking was held by India ($X), with a X% share of total exports. It was followed by Cambodia, with a X% share.

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

Export Prices by Country

In 2022, the average industrial sewing machines (non-automatic) export price amounted to $X per unit, growing by X% against the previous year. In general, export price indicated resilient growth 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. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Cambodia ($X per unit), while the average price for exports to Pakistan ($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 Mauritius (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Industrial Sewing Machines (Non-Automatic)

Imports into Sri Lanka

Industrial sewing machines (non-automatic) imports into Sri Lanka contracted rapidly to X units in 2022, dropping by X% against the previous year. In general, imports, however, saw a prominent expansion. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. Imports peaked at X units in 2021, and then contracted remarkably in the following year.

In value terms, industrial sewing machines (non-automatic) imports dropped sharply to $X in 2022. Overall, imports, however, enjoyed a measured increase. The most prominent rate of growth was recorded in 2015 when imports increased by X%. Imports peaked at $X in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest industrial sewing machines (non-automatic) supplier to Sri Lanka, accounting for a X% share of total imports. Moreover, industrial sewing machines (non-automatic) imports from China exceeded the figures recorded by the second-largest supplier, India (X units), more than tenfold.

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

In value terms, the largest industrial sewing machines (non-automatic) suppliers to Sri Lanka were China ($X), Singapore ($X) and India ($X), with a combined X% share of total imports.

India, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average industrial sewing machines (non-automatic) import price stood at $X per unit in 2022, surging by X% against the previous year. In general, the import price, however, recorded a deep setback. The pace of growth was the most pronounced in 2018 an increase of X% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

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

Source: IndexBox Platform

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