Plugs and Socket Price in Sri Lanka - 2022
Contents:
- Plugs and Socket Price in Sri Lanka (FOB) - 2022
- Plugs and Socket Price in Sri Lanka (CIF) - 2022
- Plugs and Socket Exports in Sri Lanka
- Plugs and Socket Imports in Sri Lanka
Plugs and Socket Price in Sri Lanka (FOB) - 2022
The average plugs and socket export price stood at $0.2 per unit in 2022, shrinking by -19.8% against the previous year. Overall, the export price, however, enjoyed a perceptible increase. The most prominent rate of growth was recorded in 2018 an increase of 58%. Over the period under review, the average export prices reached the maximum at $0.3 per unit in 2021, and then dropped dramatically in the following year.
There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Hungary ($0.9 per unit), while the average price for exports to Tanzania (less than $0.1 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Hungary (+13.2%), while the prices for the other major destinations experienced more modest paces of growth.
Plugs and Socket Price in Sri Lanka (CIF) - 2022
In 2022, the average plugs and socket import price amounted to $0.2 per unit, picking up by 94% against the previous year. In general, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by 151% against the previous year. As a result, import price reached the peak level of $0.5 per unit. From 2019 to 2022, the average import prices failed to regain momentum.
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 Switzerland ($4.8 per unit), while the price for India ($0.1 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+21.7%), while the prices for the other major suppliers experienced more modest paces of growth.
Plugs and Socket Exports in Sri Lanka
Plugs and socket exports from Sri Lanka expanded notably to 16M units in 2022, with an increase of 6.7% compared with 2021. Overall, exports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when exports increased by 6.8%. Over the period under review, the exports reached the peak figure in 2022 and are likely to see gradual growth in years to come.
In value terms, plugs and socket exports contracted to $3.4M in 2022. In general, exports, however, recorded a perceptible decrease. The growth pace was the most rapid in 2021 when exports increased by 12% against the previous year. As a result, the exports attained the peak of $4M, and then declined in the following year.
| Export of Plugs and Socket in Sri Lanka (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Austria | 1,482 | 1,251 | 1,360 | 1,163 | -7.8% |
| Hungary | 44.3 | 0.3 | 292 | 493 | 123.3% |
| Pakistan | 567 | 727 | 986 | 382 | -12.3% |
| Maldives | 372 | 359 | 291 | 257 | -11.6% |
| Tanzania | 206 | 238 | 231 | 234 | 4.3% |
| Germany | 4.9 | 0.1 | 1.1 | 217 | 253.8% |
| Singapore | 23.5 | 60.7 | 150 | 146 | 83.8% |
| Nepal | 221 | 181 | 121 | 76.0 | -29.9% |
| United Arab Emirates | 25.6 | 83.1 | 41.4 | 13.1 | -20.0% |
| Others | 924 | 644 | 514 | 430 | -22.5% |
| Total | 3,870 | 3,545 | 3,987 | 3,411 | -4.1% |
Top Export Markets for Plugs and Socket from Sri Lanka in 2022:
- Tanzania (6.4M units)
- Austria (4.8M units)
- Pakistan (0.9M units)
- Germany (0.9M units)
- Maldives (0.7M units)
- Hungary (0.6M units)
- Singapore (0.4M units)
- Nepal (0.2M units)
- United Arab Emirates (0.1M units)
Plugs and Socket Imports in Sri Lanka
In 2022, approx. 5.1M units of electrical plugs and sockets for under 1000 v were imported into Sri Lanka; reducing by -77.6% compared with 2021. Overall, imports continue to indicate a sharp descent. The pace of growth appeared the most rapid in 2021 when imports increased by 22% against the previous year. Imports peaked at 69M units in 2019; however, from 2020 to 2022, imports remained at a lower figure.
In value terms, plugs and socket imports shrank sharply to $1M in 2022. Over the period under review, imports saw a sharp curtailment. The smallest decline of -35.2% was in 2021. Imports peaked at $14M in 2019; however, from 2020 to 2022, imports failed to regain momentum.
| Import of Plugs and Socket in Sri Lanka (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 2,033 | 423 | 846 | 293 | -47.6% |
| Switzerland | 4,926 | 1,642 | 308 | 188 | -66.3% |
| Germany | 1,626 | 159 | 96.7 | 111 | -59.1% |
| Vietnam | 258 | 96.4 | 148 | 81.1 | -32.0% |
| United States | 2,089 | 649 | 20.8 | 44.2 | -72.3% |
| Italy | 103 | 91.7 | 26.8 | 33.3 | -31.4% |
| India | 241 | 109 | 520 | 27.6 | -51.4% |
| Hong Kong SAR | 40.3 | 108 | 23.8 | 20.7 | -19.9% |
| Singapore | 503 | 137 | 87.4 | 17.9 | -67.1% |
| Others | 1,868 | 290 | 324 | 226 | -50.5% |
| Total | 13,687 | 3,707 | 2,402 | 1,043 | -57.6% |
Top Suppliers of Plugs and Socket to Sri Lanka in 2022:
- China (3191.3K units)
- Vietnam (363.4K units)
- India (351.7K units)
- Hong Kong SAR (236.5K units)
- Germany (234.4K units)
- Italy (132.5K units)
- Singapore (54.7K units)
- Switzerland (39.0K units)
- United States (11.1K units)
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