Sri Lanka: Market for Iron or Steel Flat Spiral or Discs Springs 2024

Market Size for Iron or Steel Flat Spiral or Discs Springs in Sri Lanka

The Sri Lankan market for iron or steel flat spiral or discs springs shrank markedly to $X in 2022, declining by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, saw a remarkable increase. Metal spiral or discs spring consumption peaked at $X in 2021, and then contracted significantly in the following year.

Exports of Iron or Steel Flat Spiral or Discs Springs

Exports from Sri Lanka

In 2022, approx. X tons of iron or steel flat spiral or discs springs were exported from Sri Lanka; which is down by X% on the previous year's figure. Over the period under review, exports continue to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, metal spiral or discs spring exports totaled $X in 2022. Overall, exports showed a abrupt decline. The pace of growth appeared the most rapid in 2014 with an increase of X%. Over the period under review, the exports attained the peak figure at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Japan (X tons) was the main destination for metal spiral or discs spring exports from Sri Lanka, with a X% share of total exports. Moreover, metal spiral or discs spring exports to Japan exceeded the volume sent to the second major destination, Mali (X kg), sevenfold. Maldives (X kg) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Japan totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mali (X.0% per year) and Maldives (X% per year).

In value terms, Japan ($X) remains the key foreign market for iron or steel flat spiral or discs springs exports from Sri Lanka, comprising X% of total exports. The second position in the ranking was taken by Maldives ($X), with a X% share of total exports. It was followed by the Philippines, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Japan totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Maldives (X% per year) and the Philippines (X% per year).

Export Prices by Country

In 2022, the average export price for iron or steel flat spiral or discs springs amounted to $X per ton, increasing by X% against the previous year. Overall, the export price posted a slight expansion. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2022, the average export prices remained at a somewhat 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 Philippines ($X per ton), while the average price for exports to Mali ($X 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 the Philippines (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Iron or Steel Flat Spiral or Discs Springs

Imports into Sri Lanka

Metal spiral or discs spring imports into Sri Lanka shrank markedly to X tons in 2022, with a decrease of X% on the previous year. Over the period under review, imports, however, saw a strong expansion. The most prominent rate of growth was recorded in 2014 when imports increased by X%. Over the period under review, imports attained the peak figure at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, metal spiral or discs spring imports declined markedly to $X in 2022. In general, imports, however, saw prominent growth. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2021, and then reduced notably in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of metal spiral or discs spring to Sri Lanka, with a X% share of total imports. Moreover, metal spiral or discs spring imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), fourfold. Taiwan (Chinese) (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and Taiwan (Chinese) (X% per year).

In value terms, the largest metal spiral or discs spring suppliers to Sri Lanka were China ($X), India ($X) and Japan ($X), with a combined X% share of total imports. Indonesia, Taiwan (Chinese) and the United Arab Emirates lagged somewhat behind, together comprising a further X%.

Among the main suppliers, Indonesia, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for iron or steel flat spiral or discs springs stood at $X per ton in 2022, dropping by X% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of X%. Over the period under review, average import prices attained the maximum at $X per ton in 2021, and then dropped in the following year.

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 the United Arab Emirates ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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