Sri Lanka: Agricultural Self-Loading Trailer Market 2022

Agricultural Self-Loading Trailer Market Size in Sri Lanka

The Sri Lankan agricultural self-loading trailer market declined to $X in 2021, shrinking by -6.1% against the previous year. Over the period under review, the total consumption indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +7.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +6.9% against 2019 indices. Agricultural self-loading trailer consumption peaked at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Agricultural Self-Loading Trailer Production in Sri Lanka

In value terms, agricultural self-loading trailer production reduced to $X in 2021 estimated in export price. In general, production, however, saw a strong increase. The pace of growth appeared the most rapid in 2013 with an increase of 50% against the previous year. Agricultural self-loading trailer production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Agricultural Self-Loading Trailer Exports

Exports from Sri Lanka

Agricultural self-loading trailer exports from Sri Lanka stood at X units in 2021, standing approx. at 2020 figures. Overall, exports continue to indicate a perceptible slump. The most prominent rate of growth was recorded in 2014 when exports increased by 1,200% against the previous year. As a result, the exports reached the peak of X units. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, agricultural self-loading trailer exports reduced modestly to $X in 2021. Over the period under review, exports recorded a perceptible reduction. The most prominent rate of growth was recorded in 2014 with an increase of 928%. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Kuwait (X units) was the main destination for agricultural self-loading trailer exports from Sri Lanka, accounting for a approx. 100% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Kuwait amounted to -1.5%.

In value terms, Kuwait ($X) also remains the key foreign market for agricultural self-loading trailer exports from Sri Lanka.

From 2012 to 2021, the average annual growth rate of value to Kuwait stood at -1.7%.

Export Prices by Country

In 2021, the average agricultural self-loading trailer export price amounted to $X per unit, flattening at the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 47% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2019 to 2021, the the average export prices remained at a somewhat lower figure.

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

From 2012 to 2021, the rate of growth in terms of prices for Lebanon amounted to +19.4% per year.

Agricultural Self-Loading Trailer Imports

Imports into Sri Lanka

In 2021, the amount of self-loading or self-unloading trailers for agricultural purposes imported into Sri Lanka dropped significantly to X units, with a decrease of -20% compared with the previous year. Overall, imports, however, enjoyed prominent growth. The most prominent rate of growth was recorded in 2015 when imports increased by 500%. Imports peaked at X units in 2016; however, from 2017 to 2021, imports failed to regain momentum.

In value terms, agricultural self-loading trailer imports skyrocketed to $X in 2021. Over the period under review, imports, however, showed prominent growth. The pace of growth appeared the most rapid in 2015 with an increase of 2,659% against the previous year. As a result, imports attained the peak of $X. From 2016 to 2021, the growth of imports remained at a lower figure.

Imports by Country

The Netherlands (X units), India (X units) and Sudan (X units) were the main suppliers of agricultural self-loading trailer imports to Sri Lanka. Moreover, agricultural self-loading trailer imports in the Netherlands exceeded the figures recorded by the second-largest supplier, India, twofold.

From 2012 to 2021, the biggest increases were in the Netherlands (with a CAGR of +14.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest agricultural self-loading trailer suppliers to Sri Lanka were India ($X), the Netherlands ($X) and Sudan ($X), with a combined 99.9% share of total imports.

The Netherlands, with a CAGR of +109.0%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average agricultural self-loading trailer import price stood at $X per unit in 2021, with an increase of 94% against the previous year. Over the period under review, the import price showed a resilient expansion. The pace of growth was the most pronounced in 2015 when the average import price increased by 458%. As a result, import price reached the peak level of $X per unit. From 2016 to 2021, the average import prices remained at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Sudan ($X per unit), while the price for the Netherlands ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+16.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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