Sri Lanka: Market for Nets of Twine, Cordage, Rope or Textile Materials 2024

Market Size for Nets of Twine, Cordage, Rope or Textile Materials in Sri Lanka

In 2022, the Sri Lankan market for nets of twine, cordage, rope or textile materials decreased by X% to $X, falling for the fourth year in a row after four years of growth. Overall, consumption recorded a abrupt downturn. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Production of Nets of Twine, Cordage, Rope or Textile Materials in Sri Lanka

In value terms, twine, cordage or textile net production declined to $X in 2022 estimated in export price. In general, production, however, continues to indicate strong growth. The pace of growth was the most pronounced in 2016 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

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Exports of Nets of Twine, Cordage, Rope or Textile Materials

Exports from Sri Lanka

In 2022, overseas shipments of nets of twine, cordage, rope or textile materials increased by X% to X tons, rising for the second consecutive year after two years of decline. Overall, exports enjoyed a buoyant expansion. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the immediate term.

In value terms, twine, cordage or textile net exports skyrocketed to $X in 2022. In general, exports posted a strong increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Hong Kong SAR (X tons), Belgium (X tons) and the United States (X tons) were the main destinations of twine, cordage or textile net exports from Sri Lanka, together comprising X% of total exports. The UK, Turkey, the Netherlands, Singapore, Qatar, Germany, Thailand, Taiwan (Chinese), Japan and South Korea lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Taiwan (Chinese) (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for twine, cordage or textile net exported from Sri Lanka were the United States ($X), Belgium ($X) and Hong Kong SAR ($X), with a combined X% share of total exports.

In terms of the main countries of destination, Belgium, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, 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 export price for nets of twine, cordage, rope or textile materials amounted to $X per ton, with an increase of X% against the previous year. Over the last decade, it increased at an average annual rate of X%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Qatar ($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 Germany (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Nets of Twine, Cordage, Rope or Textile Materials

Imports into Sri Lanka

In 2022, after three years of decline, there was significant growth in overseas purchases of nets of twine, cordage, rope or textile materials, when their volume increased by X% to X tons. In general, imports, however, continue to indicate a abrupt decrease. The growth pace was the most rapid in 2017 with an increase of X%. Over the period under review, imports attained the maximum at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, twine, cordage or textile net imports shrank sharply to $X in 2022. Over the period under review, imports, however, recorded a abrupt contraction. The pace of growth was the most pronounced in 2017 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of twine, cordage or textile net to Sri Lanka, with a X% share of total imports. Moreover, twine, cordage or textile net imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), fivefold. The Netherlands (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 China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and the Netherlands (X% per year).

In value terms, China ($X) constituted the largest supplier of nets of twine, cordage, rope or textile materials to Sri Lanka, comprising X% of total imports. The second position in the ranking was held by India ($X), with a X% share of total imports. It was followed by Italy, with a X% share.

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

Import Prices by Country

In 2022, the average import price for nets of twine, cordage, rope or textile materials amounted to $X per ton, with a decrease of X% against the previous year. In general, the import price showed a perceptible descent. The most prominent rate of growth was recorded in 2014 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a somewhat 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 Italy ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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