Report Update Apr 1, 2024

Sri Lanka - Crude Petroleum Oil - Market Analysis, Forecast, Size, Trends and Insights

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Sri Lanka: Crude Oil Market 2024

Crude Oil Market Size in Sri Lanka

The Sri Lankan crude oil market dropped notably to $X in 2022, shrinking 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). Overall, consumption, however, continues to indicate a abrupt descent. Crude oil consumption peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Crude Oil Exports

Exports from Sri Lanka

In 2017, after three years of growth, there was significant decline in shipments abroad of crude petroleum oil, when their volume decreased by X% to X kg. Overall, exports continue to indicate a sharp decrease. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X kg in 2012; however, from 2013 to 2017, the exports remained at a lower figure.

In value terms, crude oil exports declined remarkably to $X in 2017. In general, exports showed a sharp setback. The pace of growth appeared the most rapid in 2014 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2017, the exports failed to regain momentum.

Exports by Country

Maldives (X kg) was the main destination for crude oil exports from Sri Lanka, accounting for a approx. X% share of total exports.

From 2012 to 2017, the average annual rate of growth in terms of volume to Maldives amounted to X%.

In value terms, Maldives ($X) also remains the key foreign market for crude petroleum oil exports from Sri Lanka.

From 2012 to 2017, the average annual rate of growth in terms of value to Maldives stood at X%.

Export Prices by Country

In 2017, the average crude oil export price amounted to $X per ton, with a decrease of X% against the previous year. Over the period under review, the export price recorded a abrupt decline. The pace of growth was the most pronounced in 2014 when the average export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2017, the average export prices remained at a lower figure.

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

From 2012 to 2017, the rate of growth in terms of prices for Maldives amounted to X% per year.

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Crude Oil Imports

Imports into Sri Lanka

In 2022, imports of crude petroleum oil into Sri Lanka surged to X tons, increasing by X% on the previous year's figure. Overall, imports, however, recorded a drastic downturn. The pace of growth appeared the most rapid in 2020 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, crude oil imports declined notably to $X in 2022. In general, imports, however, continue to indicate a abrupt contraction. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

Russia (X tons), the United Arab Emirates (X tons) and India (X kg) were the main suppliers of crude oil imports to Sri Lanka, together accounting for X% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United Arab Emirates (with a CAGR of X%), while imports for the other leaders experienced mixed trend patterns.

In value terms, Russia ($X) constituted the largest supplier of crude petroleum oil to Sri Lanka, comprising X% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Russia was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (X% per year) and India (X% per year).

Import Prices by Country

The average crude oil import price stood at $X per ton in 2022, falling by X% against the previous year. Over the period under review, the import price showed a noticeable shrinkage. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton, and then shrank dramatically in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was India ($X per ton), while the price for the United Arab Emirates ($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 United States (X%), while the prices for the other major suppliers experienced a decline.

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Frequently Asked Questions (FAQ) :

What are the largest markets for crude petroleum oil in the world?

The countries with the highest volumes of consumption in 2023 were the United States, China and Saudi Arabia, together accounting for 43% of global consumption.

What are the largest producers of crude petroleum oil in the world?

The countries with the highest volumes of production in 2022 were the United States, Russia and Saudi Arabia, together accounting for 40% of global production.

What are the leading suppliers of crude petroleum oil to Sri Lanka?

In value terms, Russia constituted the largest supplier of crude petroleum oil to Sri Lanka, comprising 70% of total imports. The second position in the ranking was held by the United Arab Emirates, with a 30% share of total imports.

What are the leading importers of crude petroleum oil from Sri Lanka?

In value terms, Maldives $175) remains the key foreign market for crude petroleum oil exports from Sri Lanka.

What is the average export price for crude petroleum oil in Sri Lanka?

In 2017, the average crude oil export price amounted to $1,591 per ton, shrinking by -45.6% against the previous year.

What is the average import price for crude petroleum oil in Sri Lanka?

In 2022, the average crude oil import price amounted to $599 per ton, reducing by -34% against the previous year.

This report provides an in-depth analysis of the crude oil market in Sri Lanka. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Country coverage:

Sri Lanka

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Sri Lanka
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023