Sri Lanka: Cotton Fabric Market 2024

Cotton Fabric Market Size in Sri Lanka

In 2023, after two years of growth, there was decline in the Sri Lankan cotton fabric market, when its value decreased by X% to $X. Over the period under review, consumption, however, saw a relatively flat trend pattern. Cotton fabric consumption peaked at $X in 2017; however, from 2018 to 2023, consumption stood at a somewhat lower figure.

Cotton Fabric Exports

Exports from Sri Lanka

Cotton fabric exports from Sri Lanka shrank rapidly to X square meters in 2023, falling by X% compared with the previous year. Overall, exports, however, recorded a prominent expansion. The pace of growth was the most pronounced in 2013 when exports increased by X%. Over the period under review, the exports reached the maximum at X square meters in 2014; however, from 2015 to 2023, the exports failed to regain momentum.

In value terms, cotton fabric exports reduced remarkably to $X in 2023. Over the period under review, exports, however, recorded prominent growth. The most prominent rate of growth was recorded in 2013 when exports increased by X%. Over the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

India (X square meters), the United Arab Emirates (X square meters) and Bangladesh (X square meters) were the main destinations of cotton fabric exports from Sri Lanka, together comprising X% of total exports. Singapore, Mauritius, Brazil, Maldives, Hong Kong SAR, Egypt, Vietnam and Malaysia lagged somewhat behind, together comprising a further X%.

From 2012 to 2023, the biggest increases were recorded for Singapore (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, India ($X) remains the key foreign market for woven fabrics of cotton exports from Sri Lanka, comprising X% of total exports. The second position in the ranking was taken by Bangladesh ($X), with a X% share of total exports. It was followed by Singapore, with a X% share.

From 2012 to 2023, the average annual growth rate of value to India amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bangladesh (X% per year) and Singapore (X% per year).

Export Prices by Country

The average cotton fabric export price stood at $X per square meter in 2023, shrinking by X% against the previous year. In general, export price indicated a strong expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, cotton fabric export price increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2013 an increase of X% against the previous year. The export price peaked at $X per square meter in 2022, and then reduced in the following year.

There were significant differences in the average prices for the major external markets. In 2023, amid the top suppliers, the country with the highest price was India ($X per square meter), while the average price for exports to the United Arab Emirates ($X per square meter) was amongst the lowest.

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

Cotton Fabric Imports

Imports into Sri Lanka

In 2023, purchases abroad of woven fabrics of cotton decreased by X% to X square meters for the first time since 2020, thus ending a two-year rising trend. Overall, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Imports peaked at X square meters in 2015; however, from 2016 to 2023, imports remained at a lower figure.

In value terms, cotton fabric imports fell slightly to $X in 2023. The total import value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2017; however, from 2018 to 2023, imports remained at a lower figure.

Imports by Country

India (X square meters), China (X square meters) and Pakistan (X square meters) were the main suppliers of cotton fabric imports to Sri Lanka, together comprising X% of total imports. Vietnam, Hong Kong SAR and Thailand lagged somewhat behind, together comprising a further X%.

From 2012 to 2023, the biggest increases were recorded for Vietnam (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest cotton fabric suppliers to Sri Lanka were India ($X), China ($X) and Pakistan ($X), together accounting for X% of total imports. Vietnam, Hong Kong SAR and Thailand lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, Vietnam, with a CAGR of X%, saw 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 2023, the average cotton fabric import price amounted to $X per square meter, approximately mirroring the previous year. Over the last eleven years, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2013 an increase of X% against the previous year. As a result, import price attained the peak level of $X per square meter. From 2014 to 2023, the average import prices remained at a somewhat 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 Vietnam ($X per square meter), while the price for China ($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 Thailand (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform