Fishing Reels Price in Sri Lanka - 2021

Fishing Reels Price in Sri Lanka (CIF) - 2022

In 2022, the average fishing reels import price amounted to $649,613 per ton, rising by 75% against the previous year. Overall, the import price showed a significant increase. The most prominent rate of growth was recorded in 2021 when the average import price increased by 224% against the previous year. Over the period under review, average import prices reached the peak figure in 2022 and is likely to see steady growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Australia ($1,018,807 per ton), while the price for South Africa ($12,336 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+44.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Fishing Reels Price in Sri Lanka (FOB) - 2022

In 2022, the average fishing reels export price amounted to $73,357 per ton, rising by 7% against the previous year. Over the period under review, the export price recorded a noticeable increase. The growth pace was the most rapid in 2021 an increase of 55%. Over the period under review, the average export prices reached the peak figure at $81,255 per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Norway ($149,125 per ton), while the average price for exports to Sweden ($44,889 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Seychelles (+27.3%), while the prices for the other major destinations experienced more modest paces of growth.

Fishing Reels Imports in Sri Lanka

In 2022, the amount of fishing reelses imported into Sri Lanka contracted to 14 kg, dropping by -12.5% compared with the year before. In general, imports recorded a sharp decline.

In value terms, fishing reels imports soared to $9.2K in 2022. Over the period under review, imports showed a precipitous descent.

Import of Fishing Reels in Sri Lanka (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	10.7	7.5	1.7	4.1	-27.4%
Malaysia	10.1	N/A	2.1	2.7	-35.6%
Australia	2.2	1.3	0.2	0.8	-28.6%
Singapore	5.4	0.1	0.3	0.3	-61.8%
Japan	N/A	1.3	0.3	0.3	-52.0%
Thailand	N/A	0.7	N/A	0.1	-62.2%
South Africa	0.4	0.5	0.2	N/A	-29.3%
Others	0.9	1.2	1.0	0.9	0.0%
Total	29.8	12.5	5.8	9.2	-32.4%

Top Suppliers of Fishing Reels to Sri Lanka in 2022:

Malaysia (5.0 kg)
China (5.0 kg)
Australia (1.0 kg)
South Africa (1.0 kg)
Japan (1.0 kg)
Thailand (1.0 kg)

Fishing Reels Exports in Sri Lanka

After three years of growth, overseas shipments of fishing reelses decreased by -42.5% to 345 kg in 2022. Over the period under review, exports, however, continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2021 when exports increased by 182%. As a result, the exports attained the peak of 600 kg, and then contracted rapidly in the following year.

In value terms, fishing reels exports dropped sharply to $25K in 2022. In general, exports, however, continue to indicate a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 336%. As a result, the exports attained the peak of $41K, and then dropped sharply in the following year.

Export of Fishing Reels in Sri Lanka (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Maldives	2.4	3.2	14.6	11.6	69.1%
Norway	0.3	0.2	6.2	4.9	153.7%
Sweden	1.2	1.7	5.1	4.1	50.6%
Seychelles	1.6	3.4	5.9	3.1	24.7%
Finland	0.1	0.5	2.1	1.7	157.1%
Others	0.1	0.4	7.3	N/A	754.4%
Total	5.7	9.4	41.2	25.3	64.3%