Sri Lanka: Sail Market 2021

Sail Market Size in Sri Lanka

After six years of growth, the Sri Lankan sail market decreased by -X% to $X in 2020. Over the period under review, the total consumption indicated a noticeable expansion from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 with an increase of X% y-o-y. Over the period under review, the market hit record highs at $X in 2019, and then fell in the following year.

Sail Production in Sri Lanka

In value terms, sail production reduced to $X in 2020 estimated in export prices. In general, production, however, continues to indicate a resilient expansion. The growth pace was the most rapid in 2010 with an increase of X% year-to-year. Sail production peaked at $X in 2019, and then contracted in the following year.

Sail Exports

Exports from Sri Lanka

In 2020, after six years of growth, there was significant decline in overseas shipments of sails, when their volume decreased by -X% to X tons. In general, total exports indicated a pronounced expansion from 2007 to 2020: its volume increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of X% y-o-y. Over the period under review, exports reached the peak figure at X tons in 2019, and then shrank dramatically in the following year.

In value terms, sail exports declined rapidly to $X in 2020. Over the period under review, exports, however, showed a resilient expansion. The growth pace was the most rapid in 2010 with an increase of X% y-o-y. Exports peaked at $X in 2018; however, from 2019 to 2020, exports stood at a somewhat lower figure.

Exports by Country

The U.S. (X tons), the UK (X tons) and France (X tons) were the main destinations of sail exports from Sri Lanka, together accounting for X% of total exports.

From 2007 to 2020, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the UK, while exports for the other leaders experienced more modest paces of growth.

In value terms, the U.S. ($X), the UK ($X) and France ($X) constituted the largest markets for sail exported from Sri Lanka worldwide, together comprising X% of total exports.

In terms of the main countries of destination, the UK saw the highest growth rate of 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 2020, the average sail export price amounted to $X per ton, approximately reflecting the previous year. Over the period from 2007 to 2020, it increased at an average annual rate of +X%. The most prominent rate of growth was recorded in 2010 when the average export price increased by X% year-to-year. The export price peaked at $X per ton in 2017; however, from 2018 to 2020, export prices failed to regain the momentum.

Prices varied noticeably by the country of destination; the country with the highest price was the UK ($X per ton), while the average price for exports to France ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to the UK, while the prices for the other major destinations experienced more modest paces of growth.

Sail Imports

Imports into Sri Lanka

In 2020, supplies from abroad of sails decreased by -X% to X kg for the first time since 2015, thus ending a four-year rising trend. Over the period under review, imports, however, saw a moderate increase. The pace of growth was the most pronounced in 2018 with an increase of X% year-to-year. Over the period under review, imports reached the maximum at X tons in 2019, and then dropped remarkably in the following year.

In value terms, sail imports dropped markedly to $X in 2020. In general, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when imports increased by X% y-o-y. Imports peaked at $X in 2019, and then fell sharply in the following year.

Imports by Country

In 2020, France (X kg) constituted the largest sail supplier to Sri Lanka, with a X% share of total imports. Moreover, sail imports from France exceeded the figures recorded by the second-largest supplier, New Zealand (X kg), threefold. The third position in this ranking was occupied by China (X kg), with a X% share.

From 2007 to 2020, the average annual growth rate of volume from France stood at +X%. The remaining supplying countries recorded the following average annual rates of imports growth: New Zealand (+X% per year) and China (+X% per year).

In value terms, New Zealand ($X), France ($X) and China ($X) constituted the largest sail suppliers to Sri Lanka, with a combined X% share of total imports. These countries were followed by the U.S. and the United Arab Emirates, which together accounted for a further X terms of the main suppliers, the United Arab Emirates recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2020, the average sail import price amounted to $X per ton, waning by -X% against the previous year. Over the period under review, the import price saw a perceptible decrease. The most prominent rate of growth was recorded in 2008 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton. from 2009 to 2020, the growth in terms of the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2020, the country with the highest price was New Zealand ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by China, while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform