Sri Lanka: Medicaments Containing Vitamins Market 2024

Medicaments Containing Vitamins Market Size in Sri Lanka

In 2022, the Sri Lankan medicaments containing vitamins market decreased by X% to $X, falling for the third year in a row after two years of growth. Overall, consumption continues to indicate a resilient increase. Medicaments containing vitamins consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Medicaments Containing Vitamins Exports

Exports from Sri Lanka

In 2022, after three years of growth, there was significant decline in shipments abroad of medicaments containing vitamins and provitamins, when their volume decreased by X% to X kg. In general, exports continue to indicate a deep slump. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. The exports peaked at X tons in 2021, and then dropped remarkably in the following year.

In value terms, medicaments containing vitamins exports dropped dramatically to $X in 2022. Overall, exports, however, posted a notable increase. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then fell dramatically in the following year.

Exports by Country

Maldives (X kg) was the main destination for medicaments containing vitamins exports from Sri Lanka, accounting for a X% share of total exports. Moreover, medicaments containing vitamins exports to Maldives exceeded the volume sent to the second major destination, New Zealand (X kg), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Maldives stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: New Zealand (X.7% per year) and the United States (X% per year).

In value terms, Maldives ($X) remains the key foreign market for medicaments containing vitamins and provitamins exports from Sri Lanka, comprising X% of total exports. The second position in the ranking was taken by New Zealand ($X), with an X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Maldives stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: New Zealand (X.4% per year) and the United States (X% per year).

Export Prices by Country

The average medicaments containing vitamins export price stood at $X per ton in 2022, growing by X% against the previous year. In general, the export price continues to indicate a prominent increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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 Maldives ($X per ton), while the average price for exports to the United States ($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 Singapore (X%), while the prices for the other major destinations experienced more modest paces of growth.

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Medicaments Containing Vitamins Imports

Imports into Sri Lanka

In 2022, overseas purchases of medicaments containing vitamins and provitamins were finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Overall, imports posted a strong increase. The pace of growth appeared the most rapid in 2016 with an increase of X%. Over the period under review, imports attained the maximum at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, medicaments containing vitamins imports contracted to $X in 2022. Over the period under review, imports continue to indicate a buoyant increase. The pace of growth was the most pronounced in 2016 with an increase of X%. Over the period under review, imports hit record highs at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, India (X tons) constituted the largest supplier of medicaments containing vitamins to Sri Lanka, with a X% share of total imports. Moreover, medicaments containing vitamins imports from India exceeded the figures recorded by the second-largest supplier, Indonesia (X tons), fivefold. Bangladesh (X tons) ranked third in terms of total imports with a X% share.

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

In value terms, India ($X), Indonesia ($X) and Australia ($X) were the largest medicaments containing vitamins suppliers to Sri Lanka, with a combined X% share of total imports.

Australia, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average medicaments containing vitamins import price stood at $X per ton in 2022, waning by X% against the previous year. In general, the import price, however, continues to indicate resilient growth. The most prominent rate of growth was recorded in 2020 an increase of X% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2021, and then dropped dramatically in the following year.

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 Australia ($X per ton), while the price for Pakistan ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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