Sri Lanka: Market for Leather of Bovine and Equine Animals 2024

Market Size for Leather of Bovine and Equine Animals in Sri Lanka

The Sri Lankan bovine and equine leather market contracted modestly 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). In general, consumption, however, continues to indicate a abrupt decrease. Bovine and equine leather consumption peaked at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Exports of Leather of Bovine and Equine Animals

Exports from Sri Lanka

In 2022, exports of leather of bovine and equine animals from Sri Lanka shrank slightly to X square meters, leveling off at 2021 figures. Overall, exports faced a abrupt descent. The most prominent rate of growth was recorded in 2014 with an increase of X%. As a result, the exports attained the peak of X square meters. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, bovine and equine leather exports reached $X in 2022. Over the period under review, exports saw a abrupt setback. The pace of growth was the most pronounced in 2014 when exports increased by X% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Vietnam (X square meters) was the main destination for bovine and equine leather exports from Sri Lanka, accounting for a X% share of total exports. Moreover, bovine and equine leather exports to Vietnam exceeded the volume sent to the second major destination, Oman (X square meters), tenfold. The third position in this ranking was held by Pakistan (X square meters), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Vietnam stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Oman (X% per year) and Pakistan (X% per year).

In value terms, Vietnam ($X) emerged as the key foreign market for leather of bovine and equine animals exports from Sri Lanka, comprising X% of total exports. The second position in the ranking was taken by Oman ($X), with a X% share of total exports. It was followed by Pakistan, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Vietnam amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Oman (X% per year) and Pakistan (X% per year).

Export Prices by Country

In 2022, the average bovine and equine leather export price amounted to $X per square meter, surging by X% against the previous year. In general, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the average export price increased by X% against the previous year. The export price peaked in 2022 and is expected to retain growth in years to come.

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 Oman ($X per square meter), while the average price for exports to the UK ($X per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Leather of Bovine and Equine Animals

Imports into Sri Lanka

In 2022, supplies from abroad of leather of bovine and equine animals was finally on the rise to reach X square meters after four years of decline. Overall, imports, however, recorded a abrupt descent. The growth pace was the most rapid in 2014 when imports increased by X%. Imports peaked at X square meters in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, bovine and equine leather imports fell modestly to $X in 2022. In general, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

India (X square meters), Japan (X square meters) and Vietnam (X square meters) were the main suppliers of bovine and equine leather imports to Sri Lanka, together comprising X% of total imports.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), India ($X) and Vietnam ($X) appeared to be the largest bovine and equine leather suppliers to Sri Lanka, with a combined X% share of total imports.

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

Import Prices by Country

The average bovine and equine leather import price stood at $X per square meter in 2022, falling by X% against the previous year. In general, the import price, however, continues to indicate a resilient increase. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. The import price peaked at $X per square meter in 2021, and then shrank slightly in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per square meter), while the price for Italy ($X per square meter) was amongst the lowest.

From 2012 to 2022, 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

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