Sri Lanka: Loading Machinery Market 2024

Loading Machinery Market Size in Sri Lanka

The Sri Lankan loading machinery market declined markedly to $X in 2022, reducing 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 recorded a mild shrinkage. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Loading Machinery Exports

Exports from Sri Lanka

In 2022, approx. X units of lifting, handling, loading or unloading machinery were exported from Sri Lanka; with an increase of X% on the previous year. Overall, exports saw a resilient increase. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, loading machinery exports contracted to $X in 2022. Over the period under review, exports, however, recorded a abrupt contraction. The pace of growth was the most pronounced in 2018 with an increase of 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 failed to regain momentum.

Exports by Country

Australia (X units) was the main destination for loading machinery exports from Sri Lanka, accounting for a X% share of total exports. Moreover, loading machinery exports to Australia exceeded the volume sent to the second major destination, Norway (X units), more than tenfold. The third position in this ranking was taken by Maldives (X units), with a X% share.

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

In value terms, Australia ($X) emerged as the key foreign market for lifting, handling, loading or unloading machinery exports from Sri Lanka, comprising X% of total exports. The second position in the ranking was held by Norway ($X), with a X% share of total exports. It was followed by Bangladesh, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Australia totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Norway (X% per year) and Bangladesh (X% per year).

Export Prices by Country

The average loading machinery export price stood at $X per unit in 2022, falling by X% against the previous year. In general, the export price showed a drastic downturn. The most prominent rate of growth was recorded in 2016 when the average export price increased by X%. Over the period under review, the average export prices reached the maximum at $X per unit in 2012; however, from 2013 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 Australia ($X per unit), while the average price for exports to Maldives ($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 Germany (X%), while the prices for the other major destinations experienced more modest paces of growth.

Loading Machinery Imports

Imports into Sri Lanka

In 2022, the amount of lifting, handling, loading or unloading machinery imported into Sri Lanka dropped dramatically to X units, declining by X% on the year before. Over the period under review, imports continue to indicate a mild downturn. The pace of growth appeared the most rapid in 2017 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at X units in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, loading machinery imports reduced to $X in 2022. Overall, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when imports increased by X%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest loading machinery supplier to Sri Lanka, accounting for a X% share of total imports. Moreover, loading machinery imports from China exceeded the figures recorded by the second-largest supplier, Denmark (X units), sixfold. The third position in this ranking was held by Singapore (X units), with a X% share.

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

In value terms, the largest loading machinery suppliers to Sri Lanka were Denmark ($X), China ($X) and Singapore ($X), with a combined X% share of total imports.

In terms of the main suppliers, Singapore, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average loading machinery import price stood at $X per unit in 2022, picking up by X% against the previous year. In general, the import price saw a temperate increase. The most prominent rate of growth was recorded in 2013 an increase of X% against the previous year. The import price peaked at $X per unit in 2014; however, from 2015 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 Denmark ($X per unit), while the price for India ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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