Sri Lanka is an island country in the Indian Ocean located just south of the Indian Peninsula. It is a pre-dominantly import oriented country. It is also known for export of its tea, textiles, apparels, rubber, coconut goods etc.
Trade Volume: Sri Lanka imports majority of its goods from India, an astounding 18.75% of imported goods in Sri Lanka are from India. This upward trend in importing of goods from India comes after the ban on imports was lifted by the Sri Lankan Government.
Before the implementation of this import ban, India was a key trading partner of Sri Lanka. Before 2022, when the ban was severely implemented, Sri Lanka imported building materials like Marble, Ceramic Tiles, Hardware, Paint, Cement etc. for a cumulative value of more than $150 million. Apart from India, Sri Lanka imports most of its goods from China, UAE, Singapore, Malaysia.
Import trend of Cement from India by Sri Lanka in the past 5 years
Sri Lanka notably import minerals, cotton, textile and pharmaceutical products from India. Although the recent trade exhibitions held in India of various sectors like building materials, agriculture, jewelry have seen a growth in import of these products as well.
The following pictures shows the import data of Sri Lanka from India of some building materials products like Marble and Granite Stone, Paints, Ceramics:
Import of Marble and Granite Stones to Sri Lanka from India in the past 5 years
Import of Paint to Sri Lanka from India in the past 5 years
Growth of Import of ceramic tiles from Sri Lanka in the past 5 years
To conclude, Sri Lankan market offers ample opportunity to exporters of building materials and construction sector. Its location just south of our peninsula makes for streamlined logistics compared to other nations as China, Malaysia, Singapore and UAE. The Free Trade Agreement signed between India and Sri Lanka makes it easier for the flow of goods.
For the year 2023-2024, Sri Lanka imported $19.61 Million worth of ceramics. When bifurcated it was found that $7.5 Million worth of Ceramics were imported in the first three quarters of the year and the rest $12.1 Million were imported in the last quarter of the year.
One key factor in this tremendous growth in the imports of ceramics can be contributed to the trade exhibitions and fairs organized by CAPEXIL in the month of January. It was an event where 200 international delegates across 30 countries participated.
This time we are organizing a trade exhibition, #VibrantBuildCon, where 2000+ international delegates across 75+ countries will be participating. It will be held in New Delhi, India from 13th – 16th April at #YashobhoomiConventionCentre. Visit #VibrantBuildCon to connect with industry leaders in the construction and building materials sector and be a part of the revolution.
