Sri Lanka: Radio Receiver Market 2023

Radio Receiver Market Size in Sri Lanka

After two years of growth, the Sri Lankan radio receiver market decreased by -65.2% to $X in 2022. Over the period under review, consumption showed a deep reduction. Over the period under review, the market reached the maximum level at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Radio Receiver Production in Sri Lanka

In value terms, radio receiver production amounted to $X in 2022 estimated in export price. Overall, production recorded a buoyant expansion. The most prominent rate of growth was recorded in 2016 with an increase of 16%. Radio receiver production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Radio Receiver Exports

Exports from Sri Lanka

In 2022, after two years of decline, there was significant growth in overseas shipments of radio receivers, when their volume increased by 42% to X units. Overall, exports continue to indicate a slight increase. The pace of growth was the most pronounced in 2019 with an increase of 465% against the previous year. As a result, the exports attained the peak of X units. From 2020 to 2022, the growth of the exports remained at a lower figure.

In value terms, radio receiver exports declined to $X in 2022. Over the period under review, exports, however, recorded a perceptible decline. The most prominent rate of growth was recorded in 2019 when exports increased by 510% against the previous year. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Iran (X units), Maldives (X units) and the United States (X units) were the main destinations of radio receiver exports from Sri Lanka, together accounting for 85% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Iran (with a CAGR of +5,500.0%), while the other leaders experienced more modest paces of growth.

In value terms, Maldives ($X) remains the key foreign market for radio receivers exports from Sri Lanka, comprising 70% of total exports. The second position in the ranking was taken by Australia ($X), with a 15% share of total exports. It was followed by the United States, with a 7.3% share.

From 2012 to 2022, the average annual growth rate of value to Maldives totaled +19.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+14.0% per year) and the United States (+12.7% per year).

Export Prices by Country

In 2022, the average radio receiver export price amounted to $X per unit, waning by -39.2% against the previous year. In general, the export price showed a noticeable decline. The most prominent rate of growth was recorded in 2020 an increase of 169% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2021 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Mali ($X per unit), while the average price for exports to Iran ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Australia (+7.8%), while the prices for the other major destinations experienced mixed trend patterns.

Radio Receiver Imports

Imports into Sri Lanka

After two years of growth, purchases abroad of radio receivers decreased by -75.6% to X units in 2022. Over the period under review, imports showed a drastic downturn. The most prominent rate of growth was recorded in 2021 with an increase of 141% against the previous year. Imports peaked at X units in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, radio receiver imports fell notably to $X in 2022. Overall, imports recorded a abrupt descent. The most prominent rate of growth was recorded in 2014 when imports increased by 78% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) was the main radio receiver supplier to Sri Lanka, with a 93% share of total imports. Moreover, radio receiver imports from China exceeded the figures recorded by the second-largest supplier, Malaysia (X units), more than tenfold. Hong Kong SAR (X units) ranked third in terms of total imports with a 1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +2.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-3.3% per year) and Hong Kong SAR (-32.3% per year).

In value terms, China ($X), Malaysia ($X) and Indonesia ($X) constituted the largest radio receiver suppliers to Sri Lanka, with a combined 96% share of total imports.

In terms of the main suppliers, Malaysia, with a CAGR of -6.2%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2022, the average radio receiver import price amounted to $X per unit, shrinking by -13.2% against the previous year. Over the period under review, the import price continues to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2018 an increase of 68% against the previous year. Over the period under review, average import prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a 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 Malaysia ($X per unit), while the price for Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (-3.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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