Sri Lanka: Cutting Blade Market 2024

Cutting Blade Market Size in Sri Lanka

In 2022, the Sri Lankan cutting blade market decreased by X% to $X for the first time since 2018, thus ending a three-year rising trend. In general, consumption, however, saw prominent growth. Over the period under review, the market hit record highs at $X in 2021, and then contracted significantly in the following year.

Cutting Blade Exports

Exports from Sri Lanka

In 2022, shipments abroad of knives and cutting blades (for machines or for mechanical appliances) decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, exports recorded a perceptible curtailment. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2021, and then dropped remarkably in the following year.

In value terms, cutting blade exports reduced rapidly to $X in 2022. In general, exports recorded a abrupt contraction. The most prominent rate of growth was recorded in 2015 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

India (X kg), Ethiopia (X kg) and Kenya (X kg) were the main destinations of cutting blade 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 Ethiopia (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, India ($X), Ethiopia ($X) and Kenya ($X) were the largest markets for cutting blade exported from Sri Lanka worldwide, together accounting for X% of total exports.

Ethiopia, with a CAGR of X%, recorded the highest growth rate of 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 2022, the average cutting blade export price amounted to $X per ton, picking up by X% against the previous year. Overall, the export price, however, continues to indicate a pronounced downturn. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

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

Cutting Blade Imports

Imports into Sri Lanka

In 2022, after four years of growth, there was significant decline in purchases abroad of knives and cutting blades (for machines or for mechanical appliances), when their volume decreased by X% to X tons. Over the period under review, imports, however, enjoyed significant growth. The growth pace was the most rapid in 2019 when imports increased by X% against the previous year. Imports peaked at X tons in 2021, and then plummeted in the following year.

In value terms, cutting blade imports shrank markedly to $X in 2022. In general, imports, however, continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2019 with an increase of X%. Over the period under review, imports hit record highs at $X in 2021, and then shrank significantly in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest cutting blade supplier to Sri Lanka, accounting for a X% share of total imports. Moreover, cutting blade imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), more than tenfold. The third position in this ranking was held by Taiwan (Chinese) (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms 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 Taiwan (Chinese) (X% per year).

In value terms, China ($X) constituted the largest supplier of knives and cutting blades (for machines or for mechanical appliances) to Sri Lanka, comprising X% of total imports. The second position in the ranking was taken by India ($X), with an X% share of total imports. It was followed by Taiwan (Chinese), with a X% share.

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

Import Prices by Country

In 2022, the average cutting blade import price amounted to $X per ton, therefore, remained relatively stable against the previous year. Overall, the import price saw a abrupt curtailment. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the price for China ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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