Price for Textiles; Worn Clothing and Other Worn Articles in Sri Lanka - 2022

Contents:

1. Price for Textiles; Worn Clothing and Other Worn Articles in Sri Lanka (CIF) - 2022
2. Price for Textiles; Worn Clothing and Other Worn Articles in Sri Lanka (FOB) - 2022
3. Imports of Textiles; Worn Clothing and Other Worn Articles in Sri Lanka
4. Exports of Textiles; Worn Clothing and Other Worn Articles in Sri Lanka

Price for Textiles; Worn Clothing and Other Worn Articles in Sri Lanka (CIF) - 2022

In 2022, the average import price for textiles; worn clothing and other worn articleses amounted to $1,943 per ton, jumping by 100% against the previous year. Over the period under review, import price indicated a prominent expansion from 2012 to 2022: its price increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($3,990 per ton), while the price for Australia ($407 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Switzerland (+41.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Textiles; Worn Clothing and Other Worn Articles in Sri Lanka (FOB) - 2022

In 2022, the average export price for textiles; worn clothing and other worn articleses amounted to $2,087 per ton, increasing by 138% against the previous year. In general, the export price, however, recorded a perceptible reduction. The export price peaked at $2,791 per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the UK ($12,187 per ton), while the average price for exports to the United Arab Emirates ($494 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 Nigeria (+26.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Textiles; Worn Clothing and Other Worn Articles in Sri Lanka

In 2022, imports of textiles; worn clothing and other worn articleses into Sri Lanka contracted remarkably to 546 tons, which is down by -62.6% on the year before. In general, imports saw a abrupt decline. The pace of growth was the most pronounced in 2021 when imports increased by 466%. As a result, imports reached the peak of 1.5K tons, and then dropped notably in the following year.

In value terms, imports of textiles; worn clothing and other worn articleses fell remarkably to $1.1M in 2022. Over the period under review, imports, however, continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2021 with an increase of 385%. As a result, imports reached the peak of $1.4M, and then reduced notably in the following year.

Top Suppliers of Textiles; Worn Clothing and Other Worn Articles to Sri Lanka in 2022:

1. Taiwan (Chinese) (171.0 tons)
2. United States (86.0 tons)
3. China (77.5 tons)
4. Switzerland (48.7 tons)
5. Kuwait (44.6 tons)
6. Australia (34.1 tons)
7. United Arab Emirates (33.7 tons)
8. South Korea (5.6 tons)
9. Netherlands (2.2 tons)
10. Malaysia (0.8 tons)

Exports of Textiles; Worn Clothing and Other Worn Articles in Sri Lanka

After three years of growth, overseas shipments of textiles; worn clothing and other worn articleses decreased by -88.4% to 93 tons in 2022. Overall, exports, however, continue to indicate a strong expansion. The growth pace was the most rapid in 2021 with an increase of 1,010%. As a result, the exports reached the peak of 805 tons, and then declined remarkably in the following year.

In value terms, exports of textiles; worn clothing and other worn articleses contracted remarkably to $195K in 2022. In general, exports, however, posted strong growth. The most prominent rate of growth was recorded in 2021 when exports increased by 525%. As a result, the exports reached the peak of $704K, and then fell significantly in the following year.

Top Export Markets for Textiles; Worn Clothing and Other Worn Articles from Sri Lanka in 2022:

1. Oman (33.9 tons)
2. United Arab Emirates (16.3 tons)
3. India (15.9 tons)
4. Thailand (5.4 tons)
5. Nigeria (4.7 tons)
6. South Korea (4.5 tons)
7. Singapore (3.5 tons)
8. Kenya (0.2 tons)

Source: IndexBox Market Intelligence Platform