Sri Lanka: Market for Jute And Jute-Like Fibers 2022

Market Size for Jute And Jute-Like Fibers in Sri Lanka

The Sri Lankan jute and jute-like fibers market was finally on the rise to reach $X in 2021, after three years of decline. Over the period under review, consumption, however, continues to indicate a deep reduction. Over the period under review, the market attained the maximum level at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Exports of Jute And Jute-Like Fibers

Exports from Sri Lanka

After four years of growth, overseas shipments of jute and jute-like fibers decreased by -X% to X tons in 2021. Over the period under review, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when exports increased by X%. The exports peaked at X tons in 2020, and then contracted rapidly in the following year.

In value terms, jute and jute-like fibers exports declined remarkably to $X in 2021. In general, exports, however, saw a buoyant expansion. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. The exports peaked at $X in 2020, and then fell remarkably in the following year.

Exports by Country

South Africa (X tons), Hong Kong SAR (X tons) and Tanzania (X tons) were the main destinations of jute and jute-like fibers exports from Sri Lanka, with a combined X% share of total exports. These countries were followed by Pakistan, the United States and Australia, which together accounted for a further X 2012 to 2020, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of +X%), while the other leaders experienced more modest paces of growth.

In value terms, South Africa ($X), Tanzania ($X) and Hong Kong SAR ($X) were the largest markets for jute and jute-like fibers exported from Sri Lanka worldwide, together accounting for X% of total exports. The United States, Pakistan and Australia lagged somewhat behind, together comprising a further X United States, with a CAGR of +X%, saw the highest rates of growth with regard to the value of exports, in terms of 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 2020, the average jute and jute-like fibers export price amounted to $X per ton, falling by -X% against the previous year. Overall, the export price, however, showed a strong expansion. The most prominent rate of growth was recorded in 2013 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2016; however, from 2017 to 2020, the export prices failed to regain momentum.

Prices varied noticeably by the country of destination: the country with the highest price was Tanzania ($X per ton), while the average price for exports to Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Jute And Jute-Like Fibers

Imports into Sri Lanka

Jute and jute-like fibers imports into Sri Lanka dropped remarkably to X tons in 2021, which is down by -X% compared with the previous year's figure. In general, imports, however, saw a significant expansion. The pace of growth was the most pronounced in 2013 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X tons in 2020, and then fell notably in the following year.

In value terms, jute and jute-like fibers imports reduced sharply to $X in 2021. Overall, imports, however, enjoyed strong growth. The pace of growth was the most pronounced in 2013 with an increase of X%. Over the period under review, imports attained the peak figure at $X in 2020, and then shrank markedly in the following year.

Imports by Country

In 2020, Bangladesh (X tons) was the main jute and jute-like fibers supplier to Sri Lanka, accounting for a X% share of total imports. Moreover, jute and jute-like fibers imports from Bangladesh exceeded the figures recorded by the second-largest supplier, China (X tons), more than tenfold.

From 2012 to 2020, the average annual rate of growth in terms of volume from Bangladesh totaled +X%.

In value terms, Bangladesh ($X) constituted the largest supplier of jute and jute-like fibers to Sri Lanka, comprising X% of total imports. The second position in the ranking was held by China ($X), with a X% share of total imports.

From 2012 to 2020, the average annual rate of growth in terms of value from Bangladesh amounted to +X%.

Import Prices by Country

In 2020, the average jute and jute-like fibers import price amounted to $X per ton, dropping by -X% against the previous year. In general, the import price recorded a abrupt decrease. The pace of growth appeared the most rapid in 2017 when the average import price increased by X%. The import price peaked at $X per ton in 2012; however, from 2013 to 2020, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2020, the country with the highest price was China ($X per ton), while the price for Bangladesh totaled $X per ton.

From 2012 to 2020, the most notable rate of growth in terms of prices was attained by Bangladesh (-X%).

Source: IndexBox Platform