Price for Electric Motors; of an Output Not Exceeding 37.5W in Sri Lanka - 2022
Contents:
- Price for Electric Motors; of an Output Not Exceeding 37.5W in Sri Lanka (CIF) - 2022
- Imports of Electric Motors; of an Output Not Exceeding 37.5W in Sri Lanka
Price for Electric Motors; of an Output Not Exceeding 37.5W in Sri Lanka (CIF) - 2022
The average import price for electric motors stood at $7.5 per unit in 2022, jumping by 128% against the previous year. Over the period under review, the import price saw measured growth. The import price peaked at $8.6 per unit in 2013; however, from 2014 to 2022, import prices failed to regain momentum.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($15 per unit), while the price for Thailand ($1.7 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 (+1.2%), while the prices for the other major suppliers experienced mixed trend patterns.
Imports of Electric Motors; of an Output Not Exceeding 37.5W in Sri Lanka
In 2022, after three years of growth, there was significant decline in purchases abroad of electric motors, when their volume decreased by -44.7% to 720K units. Over the period under review, imports, however, enjoyed significant growth. The most prominent rate of growth was recorded in 2021 with an increase of 141% against the previous year. As a result, imports attained the peak of 1.3M units, and then dropped significantly in the following year.
In value terms, imports of electric motors soared to $5.4M in 2022. Overall, imports, however, recorded significant growth. The pace of growth appeared the most rapid in 2021 when imports increased by 71% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in years to come.
| Import of Electric Motors; of an Output Not Exceeding 37.5W in Sri Lanka (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 462 | 784 | 1,653 | 3,407 | 94.6% |
| United States | 71.8 | 86.1 | 100 | 218 | 44.8% |
| India | 171 | 266 | 577 | 192 | 3.9% |
| Japan | 129 | 125 | 228 | 167 | 9.0% |
| Taiwan (Chinese) | 116 | 138 | 210 | 130 | 3.9% |
| Thailand | 74.6 | 141 | 218 | 91.9 | 7.2% |
| Vietnam | 23.1 | 88.2 | 99.2 | 80.2 | 51.4% |
| Hong Kong SAR | 44.1 | 29.3 | 53.3 | 43.3 | -0.6% |
| United Arab Emirates | 26.0 | 48.6 | 24.1 | 34.2 | 9.6% |
| Others | 507 | 808 | 1,138 | 1,063 | 28.0% |
| Total | 1,624 | 2,514 | 4,301 | 5,427 | 49.5% |
Top Suppliers of Electric Motors; of an Output Not Exceeding 37.5W to Sri Lanka in 2022:
- China (223.6K units)
- India (102.5K units)
- Japan (91.4K units)
- United States (75.6K units)
- Thailand (54.8K units)
- Vietnam (47.1K units)
- Hong Kong SAR (25.8K units)
- United Arab Emirates (19.9K units)
- Taiwan (Chinese) (17.5K units)
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