Sri Lanka: Machine-Tool For Drilling Market 2024

Machine-Tool For Drilling Market Size in Sri Lanka

The Sri Lankan machine-tool for drilling market reduced markedly to $X in 2023, with a decrease of X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption continues to indicate a perceptible descent. As a result, consumption attained the peak level of $X. From 2021 to 2023, the growth of the market remained at a lower figure.

Machine-Tool For Drilling Exports

Exports from Sri Lanka

Machine-tool for drilling exports from Sri Lanka contracted to X units in 2023, falling by X% compared with 2022. Overall, exports, however, continue to indicate a temperate expansion. The pace of growth was the most pronounced in 2015 when exports increased by X%. The exports peaked at X units in 2016; however, from 2017 to 2023, the exports failed to regain momentum.

In value terms, machine-tool for drilling exports shrank to $X in 2023. Over the period under review, exports saw a deep contraction. The most prominent rate of growth was recorded in 2015 when exports increased by X%. The exports peaked at $X in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Maldives (X units), Singapore (X units) and the United Arab Emirates (X units) were the main destinations of machine-tool for drilling exports from Sri Lanka.

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, Maldives ($X), South Korea ($X) and Liberia ($X) constituted the largest markets for machine-tool for drilling exported from Sri Lanka worldwide, together comprising X% of total exports. Singapore, India, the United Arab Emirates, Malaysia, Seychelles, Qatar, Ethiopia, Thailand and Bangladesh lagged somewhat behind, together comprising a further X%.

The United Arab Emirates, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the average machine-tool for drilling export price amounted to $X per unit, rising by X% against the previous year. Over the period under review, the export price, however, saw a abrupt decrease. The most prominent rate of growth was recorded in 2018 when the average export price increased by X%. Over the period under review, the average export prices reached the maximum at $X per unit in 2012; however, from 2013 to 2023, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Liberia ($X per unit), while the average price for exports to Bangladesh ($X per unit) was amongst the lowest.

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

Machine-Tool For Drilling Imports

Imports into Sri Lanka

Machine-tool for drilling imports into Sri Lanka reduced markedly to X units in 2023, declining by X% on 2022. In general, imports showed a slight contraction. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. As a result, imports attained the peak of X units. From 2021 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, machine-tool for drilling imports reduced notably to $X in 2023. Over the period under review, imports recorded a abrupt downturn. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2023, imports stood at a somewhat lower figure.

Imports by Country

In 2023, China (X units) constituted the largest machine-tool for drilling supplier to Sri Lanka, with a X% share of total imports. Moreover, machine-tool for drilling imports from China exceeded the figures recorded by the second-largest supplier, Hong Kong SAR (X units), fourfold. Japan (X units) ranked third in terms of total imports with a X% share.

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

In value terms, China ($X), the United States ($X) and Japan ($X) were the largest machine-tool for drilling suppliers to Sri Lanka, together accounting for X% of total imports.

The United States, 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

In 2023, the average machine-tool for drilling import price amounted to $X per unit, falling by X% against the previous year. Over the period under review, the import price showed a deep slump. The most prominent rate of growth was recorded in 2021 when the average import price increased by X%. The import price peaked at $X per unit in 2017; however, from 2018 to 2023, 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 Germany ($X per unit), while the price for Hong Kong SAR ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform