Sri Lanka: Textile Wall Covering Market 2024

Textile Wall Covering Market Size in Sri Lanka

In 2023, the Sri Lankan textile wall covering market decreased by X% to $X for the first time since 2020, thus ending a two-year rising trend. Over the period under review, consumption, however, enjoyed a measured expansion. As a result, consumption attained the peak level of $X. From 2017 to 2023, the growth of the market remained at a lower figure.

Textile Wall Covering Production in Sri Lanka

In value terms, textile wall covering production totaled $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2022 to 2023, production growth remained at a lower figure.

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Textile Wall Covering Exports

Exports from Sri Lanka

In 2023, overseas shipments of textile wall coverings were finally on the rise to reach X square meters for the first time since 2019, thus ending a three-year declining trend. Overall, exports continue to indicate prominent growth. The pace of growth was the most pronounced in 2018 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X square meters in 2019; however, from 2020 to 2023, the exports failed to regain momentum.

In value terms, textile wall covering exports soared to $X in 2023. Over the period under review, exports showed a prominent expansion. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. The exports peaked at $X in 2020; however, from 2021 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Maldives (X square meters) was the main destination for textile wall covering exports from Sri Lanka, accounting for a X% share of total exports. Moreover, textile wall covering exports to Maldives exceeded the volume sent to the second major destination, the Netherlands (X square meters), more than tenfold.

From 2012 to 2023, the average annual growth rate of volume to Maldives amounted to X%.

In value terms, Maldives ($X) remains the key foreign market for textile wall coverings exports from Sri Lanka, comprising X% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a X% share of total exports.

From 2012 to 2023, the average annual rate of growth in terms of value to Maldives totaled X%.

Export Prices by Country

The average textile wall covering export price stood at $X per square meter in 2023, standing approx. at the previous year. In general, the export price, however, continues to indicate a perceptible expansion. The growth pace was the most rapid in 2018 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs at $X per square meter in 2022, and then reduced modestly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Maldives ($X per square meter), while the average price for exports to the Netherlands amounted to $X per square meter.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Maldives (X%), while the prices for the other major destinations experienced a decline.

Textile Wall Covering Imports

Imports into Sri Lanka

In 2023, after two years of growth, there was significant decline in purchases abroad of textile wall coverings, when their volume decreased by X% to X square meters. Over the period under review, imports, however, continue to indicate modest growth. The most prominent rate of growth was recorded in 2016 when imports increased by X% against the previous year. As a result, imports reached the peak of X square meters. From 2017 to 2023, the growth of imports remained at a lower figure.

In value terms, textile wall covering imports fell to $X in 2023. In general, imports, however, saw resilient growth. The growth pace was the most rapid in 2016 when imports increased by X% against the previous year. As a result, imports attained the peak of $X. From 2017 to 2023, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2023, Pakistan (X square meters) constituted the largest textile wall covering supplier to Sri Lanka, accounting for a X% share of total imports. Moreover, textile wall covering imports from Pakistan exceeded the figures recorded by the second-largest supplier, Hong Kong SAR (X square meters), fourfold. Singapore (X square meters) ranked third in terms of total imports with a X% share.

From 2012 to 2023, the average annual growth rate of volume from Pakistan totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (X% per year) and Singapore (X% per year).

In value terms, the largest textile wall covering suppliers to Sri Lanka were Pakistan ($X), Singapore ($X) and Hong Kong SAR ($X), together accounting for X% of total imports.

Pakistan, with a CAGR of X%, 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 textile wall covering import price stood at $X per square meter in 2023, reducing by X% against the previous year. Overall, import price indicated a buoyant expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, textile wall covering import price decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2020 an increase of X% against the previous year. As a result, import price reached the peak level of $X per square meter. From 2021 to 2023, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Singapore ($X per square meter), while the price for Hong Kong SAR ($X per square meter) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Pakistan (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform