Sri Lanka: Wire And Cable Market 2024

Wire And Cable Market Size in Sri Lanka

In 2022, the Sri Lankan wire and cable market decreased by X% to $X, falling for the second year in a row after four years of growth. Overall, the total consumption indicated a perceptible expansion 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. Wire and cable consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Wire And Cable Production in Sri Lanka

In value terms, wire and cable production rose to $X in 2022 estimated in export price. In general, the total production indicated temperate 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 growth pace was the most rapid in 2018 with an increase of X% against the previous year. Wire and cable production peaked at $X in 2020; afterwards, it flattened through to 2022.

Wire And Cable Exports

Exports from Sri Lanka

In 2022, shipments abroad of insulated wire and cable increased by X% to X tons, rising for the second year in a row after three years of decline. In general, exports, however, showed a slight shrinkage. The growth pace was the most rapid in 2021 when exports increased by X%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, wire and cable exports soared to $X in 2022. Over the period under review, exports saw a slight increase. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the near future.

Exports by Country

India (X tons), Maldives (X tons) and the United Arab Emirates (X tons) were the main destinations of wire and cable exports from Sri Lanka, together accounting for X% of total exports. Mauritius, Mexico, the UK, Japan, Austria, Seychelles and New Zealand lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Mexico (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, India ($X), Maldives ($X) and Mexico ($X) appeared to be the largest markets for wire and cable exported from Sri Lanka worldwide, with a combined X% share of total exports.

Mexico, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average wire and cable export price amounted to $X per ton, dropping by X% against the previous year. In general, the export price, however, enjoyed perceptible growth. The most prominent rate of growth was recorded in 2019 an increase of X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Austria ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) was amongst the lowest.

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

Wire And Cable Imports

Imports into Sri Lanka

In 2022, imports of insulated wire and cable into Sri Lanka plummeted to X tons, declining by X% on the previous year. Overall, imports saw a drastic downturn. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, wire and cable imports declined notably to $X in 2022. In general, imports saw a noticeable contraction. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of wire and cable to Sri Lanka, with a X% share of total imports. Moreover, wire and cable imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), twofold. Sweden (X tons) ranked third in terms of total imports with a X% share.

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

In value terms, China ($X), India ($X) and Sweden ($X) were the largest wire and cable suppliers to Sri Lanka, with a combined X% share of total imports. Malaysia, Turkey, Italy, Singapore and South Korea lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, Turkey, with a CAGR of X%, saw the highest growth rate of 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 wire and cable import price stood at $X per ton in 2022, with an increase of X% against the previous year. Over the last decade, it increased at an average annual rate of X%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per ton), while the price for China ($X per ton) 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 more modest paces of growth.

Source: IndexBox Platform

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