Sri Lanka: Net Fabric Market 2024

Net Fabric Market Size in Sri Lanka

The Sri Lankan net fabric market fell significantly to $X in 2023, with a decrease of X% against the previous year. Over the period under review, consumption, however, saw significant growth. Over the period under review, the market attained the maximum level at $X in 2016; however, from 2017 to 2023, consumption stood at a somewhat lower figure.

Net Fabric Production in Sri Lanka

In value terms, net fabric production contracted markedly to $X in 2023 estimated in export price. In general, production showed a deep contraction. Net fabric production peaked at $X in 2019; however, from 2020 to 2023, production remained at a lower figure.

Net Fabric Exports

Exports from Sri Lanka

In 2023, shipments abroad of tulles and other net fabrics increased by X% to X tons for the first time since 2020, thus ending a two-year declining trend. Over the period under review, exports recorded a resilient increase. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. The exports peaked at X tons in 2020; however, from 2021 to 2023, the exports stood at a somewhat lower figure.

In value terms, net fabric exports surged to $X in 2023. In general, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when exports increased by X%. The exports peaked at $X in 2020; however, from 2021 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Indonesia (X tons) was the main destination for net fabric exports from Sri Lanka, accounting for a X% share of total exports. Moreover, net fabric exports to Indonesia exceeded the volume sent to the second major destination, the Dominican Republic (X tons), fourfold. The United Arab Emirates (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2023, the average annual growth rate of volume to Indonesia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Dominican Republic (X% per year) and the United Arab Emirates (X% per year).

In value terms, Indonesia ($X), Saudi Arabia ($X) and the Dominican Republic ($X) constituted the largest markets for net fabric exported from Sri Lanka worldwide, with a combined X% share of total exports.

Among the main countries of destination, Saudi Arabia, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the average net fabric export price amounted to $X per ton, falling by X% against the previous year. Over the period under review, the export price showed a abrupt descent. The most prominent rate of growth was recorded in 2018 when the average export price increased by X%. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2023, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2023, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while the average price for exports to Croatia ($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 Hong Kong SAR (X%), while the prices for the other major destinations experienced mixed trend patterns.

Net Fabric Imports

Imports into Sri Lanka

After four years of growth, purchases abroad of tulles and other net fabrics decreased by X% to X tons in 2023. In general, imports, however, continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2014 when imports increased by X%. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2023, imports stood at a somewhat lower figure.

In value terms, net fabric imports fell dramatically to $X in 2023. Over the period under review, imports, however, recorded significant growth. The pace of growth was the most pronounced in 2014 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2016; however, from 2017 to 2023, imports remained at a lower figure.

Imports by Country

India (X tons), China (X tons) and Belgium (X tons) were the main suppliers of net fabric imports to Sri Lanka, with a combined X% share of total imports. Hungary, Italy, the Netherlands, Taiwan (Chinese), France, Vietnam, Indonesia, Spain, Thailand and Hong Kong SAR lagged somewhat behind, together comprising a further X%.

From 2012 to 2023, the biggest increases were recorded for France (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of tulles and other net fabrics to Sri Lanka, comprising X% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a X% share of total imports. It was followed by India, with a X% share.

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

Import Prices by Country

In 2023, the average net fabric import price amounted to $X per ton, with a decrease of X% against the previous year. In general, the import price, however, saw a slight increase. The pace of growth was the most pronounced in 2016 an increase of X% against the previous year. The import price peaked at $X per ton in 2019; however, from 2020 to 2023, import prices stood at a somewhat lower figure.

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 Hong Kong SAR ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform