Sri Lanka: Metal Chain Market 2024

Metal Chain Market Size in Sri Lanka

In 2023, after two years of growth, there was significant decline in the Sri Lankan metal chain market, when its value decreased by X% to $X. Overall, consumption recorded a deep slump. As a result, consumption reached the peak level of $X. From 2016 to 2023, the growth of the market remained at a lower figure.

Metal Chain Exports

Exports from Sri Lanka

After two years of growth, overseas shipments of iron or steel chain decreased by X% to X tons in 2023. In general, exports saw a deep setback. The pace of growth was the most pronounced in 2017 when exports increased by X%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

In value terms, metal chain exports fell significantly to $X in 2023. Over the period under review, exports faced a deep slump. The pace of growth was the most pronounced in 2017 with an increase of X%. The exports peaked at $X in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

Exports by Country

Bangladesh (X kg) was the main destination for metal chain exports from Sri Lanka, accounting for a X% share of total exports. Moreover, metal chain exports to Bangladesh exceeded the volume sent to the second major destination, Maldives (X kg), twofold. The third position in this ranking was held by Oman (X kg), with a X% share.

From 2012 to 2023, the average annual growth rate of volume to Bangladesh amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Maldives (X% per year) and Oman (X% per year).

In value terms, New Zealand ($X) emerged as the key foreign market for iron or steel chain exports from Sri Lanka, comprising X% of total exports. The second position in the ranking was taken by Bangladesh ($X), with an X% share of total exports. It was followed by India, with a X% share.

From 2012 to 2023, the average annual growth rate of value to New Zealand was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Bangladesh (X% per year) and India (X% per year).

Export Prices by Country

The average metal chain export price stood at $X per ton in 2023, growing by X% against the previous year. Overall, the export price showed perceptible growth. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia (X%), while the prices for the other major destinations experienced mixed trend patterns.

Metal Chain Imports

Imports into Sri Lanka

In 2023, overseas purchases of iron or steel chain decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. Over the period under review, imports faced a abrupt descent. The growth pace was the most rapid in 2015 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2016 to 2023, the growth of imports remained at a lower figure.

In value terms, metal chain imports declined remarkably to $X in 2023. In general, imports recorded a abrupt slump. The growth pace was the most rapid in 2015 when imports increased by X% against the previous year. As a result, imports attained the peak of $X. From 2016 to 2023, the growth of imports failed to regain momentum.

Imports by Country

In 2023, China (X tons) constituted the largest metal chain supplier to Sri Lanka, accounting for a X% share of total imports. Moreover, metal chain imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), fivefold. Japan (X tons) ranked third in terms of total imports with a X% share.

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

In value terms, China ($X) constituted the largest supplier of iron or steel chain to Sri Lanka, comprising X% of total imports. The second position in the ranking was held by India ($X), with a X% share of total imports. It was followed by Malaysia, with an X% share.

From 2012 to 2023, the average annual rate of growth in terms of value from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and Malaysia (X% per year).

Import Prices by Country

In 2023, the average metal chain import price amounted to $X per ton, declining by X% against the previous year. In general, import price indicated slight growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, metal chain import price increased by X% against 2021 indices. The growth pace was the most rapid in 2018 an increase of X%. The import price peaked at $X per ton in 2022, and then reduced markedly in the following year.

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 Singapore ($X per ton), while the price for China ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform