Sri Lanka: Market for Nets of Twine, Cordage, Rope or Textile Materials 2022

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

In 2021, the Sri Lankan market for nets of twine, cordage, rope or textile materials decreased by -X% to $X for the first time since 2011, thus ending a nine-year rising trend. Overall, the total consumption indicated a modest increase from 2012 to 2021: its value increased at an average annual rate of +X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the peak level at $X in 2020, and then shrank rapidly in the following year.

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

In value terms, twine, cordage or textile net production rose sharply to $X in 2021 estimated in export price. Overall, the total production indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -X% against 2019 indices. The most prominent rate of growth was recorded in 2014 with an increase of X%. Twine, cordage or textile net production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

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

Exports from Sri Lanka

After two years of decline, shipments abroad of nets of twine, cordage, rope or textile materials increased by X% to X tons in 2021. Overall, exports saw a prominent expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, twine, cordage or textile net exports surged to $X in 2021. In general, exports showed a buoyant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Germany (X tons), the Netherlands (X tons) and the United States (X tons) were the main destinations of twine, cordage or textile net exports from Sri Lanka, together accounting for X% of total exports. These countries were followed by Turkey, the UK, Belgium, Hong Kong SAR, Singapore, Russia, Denmark, Taiwan (Chinese), Qatar and France, which together accounted for a further X 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Russia (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 Germany ($X), the United States ($X) and the UK ($X), with a combined X% share of total exports. The Netherlands, Hong Kong SAR, Belgium, Turkey, Singapore, Denmark, Qatar, Taiwan (Chinese), France and Russia lagged somewhat behind, together comprising a further X, with a CAGR of +X%, recorded the highest rates of growth with regard to 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

The average export price for nets of twine, cordage, rope or textile materials stood at $X per ton in 2021, shrinking by -X% against the previous year. In general, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the average export price increased by X%. As a result, the export price reached the peak level of $X per ton. From 2018 to 2021, the the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was the United States ($X per ton), while the average price for exports to Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+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 2021, approx. X tons of nets of twine, cordage, rope or textile materials were imported into Sri Lanka; which is down by -X% compared with 2020 figures. Over the period under review, imports showed a noticeable reduction. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, twine, cordage or textile net imports reduced notably to $X in 2021. Overall, imports continue to indicate a deep slump. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.

Imports by Country

China (X tons), India (X tons) and Taiwan (Chinese) (X tons) were the main suppliers of twine, cordage or textile net imports to Sri Lanka, with a combined X% share of total imports. Marshall Islands and Turkey lagged somewhat behind, together comprising a further X 2012 to 2021, the biggest increases were in Turkey (with a CAGR of +X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest twine, cordage or textile net suppliers to Sri Lanka were India ($X), China ($X) and Taiwan (Chinese) ($X), together comprising X% of total imports. Marshall Islands and Turkey lagged somewhat behind, together comprising a further X, with a CAGR of +X%, recorded the highest rates of growth with regard to 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

In 2021, the average import price for nets of twine, cordage, rope or textile materials amounted to $X per ton, shrinking by -X% against the previous year. Over the period under review, the import price showed a pronounced decrease. The growth pace was the most rapid in 2013 when the average import price increased by X%. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was India ($X per ton), while the price for Marshall Islands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform