Sri Lanka: Tobacco Making Machinery Market 2024

Tobacco Making Machinery Market Size in Sri Lanka

The Sri Lankan tobacco making machinery market declined rapidly to $X in 2022, falling by X% against the previous year. Overall, consumption continues to indicate a abrupt descent. Tobacco making machinery consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Tobacco Making Machinery Production in Sri Lanka

In value terms, tobacco making machinery production totaled less than $X in 2022 estimated in export price. Over the period under review, production posted significant growth. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2022, production growth failed to regain momentum.

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Tobacco Making Machinery Exports

Exports from Sri Lanka

Tobacco making machinery exports from Sri Lanka skyrocketed to X units in 2022, rising by X% on 2021 figures. In general, exports enjoyed a significant increase. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the near future.

In value terms, tobacco making machinery exports skyrocketed to $X in 2022. Overall, exports enjoyed a significant increase. The pace of growth was the most pronounced in 2015 when exports increased by X%. Over the period under review, the exports reached the peak figure in 2022 and are likely to see steady growth in the near future.

Exports by Country

Indonesia (X units) was the main destination for tobacco making machinery exports from Sri Lanka, with a approx. X% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Indonesia stood at X%.

In value terms, Indonesia ($X) also remains the key foreign market for machinery for the preparation or making up of tobacco exports from Sri Lanka.

From 2012 to 2022, the average annual rate of growth in terms of value to Indonesia amounted to X%.

Export Prices by Country

In 2022, the average tobacco making machinery export price amounted to $X per unit, declining by X% against the previous year. Overall, the export price, however, enjoyed significant growth. The most prominent rate of growth was recorded in 2015 when the average export price increased by X% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per unit in 2021, and then reduced in the following year.

As there is only one major export destination, the average price level is determined by prices for Indonesia.

From 2012 to 2022, the rate of growth in terms of prices for the Dominican Republic amounted to X% per year.

Tobacco Making Machinery Imports

Imports into Sri Lanka

Tobacco making machinery imports into Sri Lanka contracted notably to X units in 2022, which is down by X% compared with 2021. Over the period under review, imports showed a deep downturn. The most prominent rate of growth was recorded in 2020 with an increase of X%. As a result, imports reached the peak of X units. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, tobacco making machinery imports dropped remarkably to $X in 2022. In general, imports recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, imports hit record highs at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, the Netherlands (X units) constituted the largest tobacco making machinery supplier to Sri Lanka, accounting for a X% share of total imports. Moreover, tobacco making machinery imports from the Netherlands exceeded the figures recorded by the second-largest supplier, the Dominican Republic (X units), eightfold. The third position in this ranking was held by Belgium (X units), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the Netherlands stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Dominican Republic (X% per year) and Belgium (X% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of machinery for the preparation or making up of tobacco to Sri Lanka, comprising X% of total imports. The second position in the ranking was taken by Belgium ($X), with an X% share of total imports. It was followed by the Dominican Republic, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the Netherlands stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (X% per year) and the Dominican Republic (X% per year).

Import Prices by Country

The average tobacco making machinery import price stood at $X per unit in 2022, remaining stable against the previous year. Over the period under review, the import price, however, continues to indicate a strong expansion. The growth pace was the most rapid in 2017 an increase of X% against the previous year. Over the period under review, average import prices attained the peak figure at $X per unit in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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 Belgium ($X per unit), while the price for Singapore ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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