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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » Sri Lanka’s Top 10 Imports

Sri Lanka’s Top 10 Imports

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1Sri Lanka’s Top 10 Imports Empty Sri Lanka’s Top 10 Imports Tue May 21, 2019 8:34 pm

God Father


Manager - Equity Analytics
Manager - Equity Analytics
Sri Lankan imports totaled an estimated US$18.7 billion in 2018, dipping -2.7% since 2014. Year over year, Sri Lankan import purchases declined by -12.1% from 2017 to 2018.

From a continental perspective and using 2017 calculations, more than three-quarters (78.9%) of Sri Lanka’s total imports by value in 2017 were purchased from other Asian countries. European trade partners supplied 11% of import sales to Sri Lanka while 5% worth of goods originated from North America. Smaller percentages came from exporters in Oceania (2.5%) including Australia, Africa (1.7%) and Latin America (0.9%) excluding Mexico plus the Caribbean.

Given Sri Lanka’s population of 22.6 million people, its total $18.7 billion in 2018 imports translates to roughly $850 in yearly product demand from every person in the Asian nation.

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The following product groups represent the highest dollar value in Sri Lanka’s import purchases during 2018. Also shown is the percentage share each product category represents in terms of overall imports into Sri Lanka.

-Mineral fuels including oil: US$2.3 billion (12.5% of total imports)
-Vehicles: $2 billion (10.5%)
-Machinery including computers: $1.6 billion (8.5%)
-Electrical machinery, equipment: $1.3 billion (6.7%)
-Knit or crochet fabric: $798.4 million (4.3%)
-Cotton: $660.1 million (3.5%)
-Plastics, plastic articles: $595.9 million (3.2%)
-Iron, steel: $577 million (3.1%)
-Ships, boats: $535.9 million (2.9%)
-Paper, paper items: $437.4 million (2.3%)
Sri Lanka’s top 10 imports accounted for over half (57.4%) of the overall value of its product purchases from other countries.

Imported ships and boats posted the fastest-growing increase in value among the top 10 import categories, up by 116.3% from 2017 to 2018.

In second place for improving import purchases was vehicles, up 30.8%. Trailing that were Sri Lankan imports of cotton via its 0.9% gain.

Leading the decliners was imported iron and steel which retreated -28.1% year over year.

----------------------------------------------------------------------

In 2018, Sri Lankan importers spent the most on the following 10 subcategories of fossil fuel-related products.

-Processed petroleum oils: US$2.2 billion (up 3.2% from 2017)
-Coal, solid fuels made from coal: $176.8 million (down -31.7%)
-Petroleum jelly, mineral waxes: $4.7 million (up 30.6%)
-Asphalt/petroleum bitumen mixes: $2.7 million (up 443.4%)
-Coal tar oils (high temperature distillation): $1 million (down -83.9%)
-Coke, semi-coke: $463,000 (down -64.9%)
-Petroleum oil residues: $332,000 (down -99%)
-Petroleum gases: $69,000 (down -100%)
-Natural bitumen, asphalt, shale: $37,000 (up 825%)
-Peat: $24,000 (down -27.3%)

Among these import subcategories, Sri Lankan purchases of natural bitumen, asphalt and shale (up 825%), asphalt or petroleum bitumen mixes (up 443.4%) then petroleum jelly and mineral waxes (up 30.6%) grew at the fastest pace from 2017 to 2018.

These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported fossil fuel-related among Sri Lankan businesses and consumers.

-------------------------------------------------------

In 2018, Sri Lankan importers spent the most on the following 10 subcategories of vehicles.

-Cars: US$1.2 billion (up 119.4% from 2017)
-Motorcycles: $234 million (down -6.6%)
-Trucks: $177.9 million (down -47.1%)
-Automobile parts/accessories: $120.1 million (up 47.6%)
-Public-transport vehicles: $57.2 million (down -45.7%)
-Motorcycle parts/accessories: $56.2 million (up 10.7%)
-Tractors: $47.7 million (down -32.5%)
-Bicycles, other non-motorized cycles: $24.6 million (up 4,253%)
-Special purpose vehicles: $15.7 million (down -41.3%)
-Trailers: $8.5 million (up 43.1%)

Among these import subcategories, Sri Lankan purchases of bicycles and other non-motorized cycles (up 4,253%), cars (up 119.4%) then automobile parts or accessories (up 47.6%) grew at the fastest pace from 2017 to 2018.

These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported vehicles among Sri Lankan businesses and consumers.

--------------------------------------------------------------------------

2018, Sri Lankan importers spent the most on the following 10 subcategories of machinery including computers.

-Computers, optical readers: US$179.8 million (up 9.7% from 2017)
-Printing machinery: $73.7 million (down -13.4%)
-Taps, valves, similar appliances: $64 million (down -5%)
-Turbo-jets: $61.7 million (up 26.7%)
-Refrigerators, freezers: $58.8 million (down -14.3%)
-Air or vacuum pumps: $57.9 million (down -10%)
-Heavy machinery (bulldozers, excavators, road rollers): $56.5 million (down -38.1%)
-Sewing machines, related furniture: $54.4 million (down -18.4%)
-Air conditioners: $53.6 million (down -12.6%)
-Miscellaneous machinery: $53.2 million (down -33.6%)

Among these import subcategories, Sri Lanka’s purchases of turbo-jets (up 26.7%) and computers including optical readers (up 9.7%) grew from 2017 to 2018.

These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported machinery among Sri Lankan businesses and consumers.
---------------------------------------------------------------------------

In 2018, Sri Lankan importers spent the most on the following 10 subcategories of electrical items including consumer electronics.

-Phone system devices including smartphones: US$432.7 million (down -9.8% from 2017)
-TV receivers/monitors/projectors: $85.6 million (down -27.8%)
-Lower-voltage switches, fuses: $70.9 million (up 14.8%)-
-Electrical converters/power units: $63.5 million (down -32.1%)
-Solar power diodes/semi-conductors: $51.6 million (up 37.8%)
-Electric generating sets, converters: $48.9 million (down -21.3%)
-Insulated wire/cable: $44.8 million (down -37.7%)
-Electric water heaters, hair dryers: $37.7 million (up 25%)
-Electric storage batteries: $36.9 million (up 26.5%)
-Unrecorded sound media: $28.6 million (down -9.5%)

Among these import subcategories, Sri Lankan purchases of solar power diodes and semi-conductors (up 37.8%), electric storage batteries (up 26.5%) then electric water heaters and hair dryers (up 25%) grew at the fastest pace from 2017 to 2018.

These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported electronics among Sri Lankan businesses and consumers.



Last edited by God Father on Tue May 21, 2019 8:36 pm; edited 1 time in total

2Sri Lanka’s Top 10 Imports Empty Re: Sri Lanka’s Top 10 Imports Wed May 22, 2019 10:26 am

soileconomy

soileconomy
Vice President - Equity Analytics
Vice President - Equity Analytics
Good to know.everyone should read this.thanx for sharing

3Sri Lanka’s Top 10 Imports Empty Re: Sri Lanka’s Top 10 Imports Wed May 22, 2019 11:16 am

Gajaya


Equity Analytic
Equity Analytic
Thanks

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