2023
Exports
$78.4MWorld Rnk 80 / 226
Flag Rnk 26 / 96
2023
PRODUCT COMPLEXITY IN Iron or steel articles
1.67Rnk 25 / 1025
2023
Imports
$270MWorld Rnk 104 / 226
Flag Rnk 18 / 96
2023
ECONOMIC COMPLEXITY of Sri Lanka
-0.44Rnk 85 / 132

About

Exports In 2023, Sri Lanka exported $78.4M in Iron or steel articles, making it the 80th largest exporter of Iron or steel articles in the world. At the same year, Iron or steel articles was the 26th most exported product in Sri Lanka. The main destination of Iron or steel articles exports from Sri Lanka are: United States ($52.6M), Bangladesh ($8.09M), Maldives ($3.8M), India ($1.52M), and Pakistan ($1.35M).

The fastest growing export markets for Iron or steel articles of Sri Lanka between 2022 and 2023 were China ($713k), Singapore ($704k), and Oman ($484k).

Imports In 2023, Sri Lanka imported $270M in Iron or steel articles, becoming the 104th largest importer of Iron or steel articles in the world. At the same year, Iron or steel articles was the 18th most imported product in Sri Lanka. Sri Lanka imports Iron or steel articles primarily from: China ($128M), India ($49.3M), Netherlands ($26.4M), Spain ($6.23M), and Malaysia ($6.04M).

The fastest growing import markets in Iron or steel articles for Sri Lanka between 2022 and 2023 were Netherlands ($25.5M), Luxembourg ($2.62M), and Pakistan ($2.54M).

COMPANIES In 2024, leading companies such as SIGMA Corp (188), Tredit Tire & Wheel (45), and Danfoss (18) were at the forefront of shipping Iron or steel articles from Sri Lanka to the United States.

Latest Trends

Dec 2024

Subnational Monthly Trade

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Flow
Y-AXIS SCALE

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

The following visualization shows the latest trends on Iron or steel articles. Countries are shown based on data availability.

* Using January 2020 exchange rates when trade data is reported in local currency.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$78.4M
IMPORTS (2023)$270M
NET TRADE (2023)-$192M

In 2023, Sri Lanka exported $78.4M in Iron or steel articles. The main destinations of Sri Lanka exports on Iron or steel articles were United States ($52.6M), Bangladesh ($8.09M), Maldives ($3.8M), India ($1.52M), and Pakistan ($1.35M).

In 2023, Sri Lanka imported $270M in Iron or steel articles, mainly from China ($128M), India ($49.3M), Netherlands ($26.4M), Spain ($6.23M), and Malaysia ($6.04M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Iron or steel articles EXPORT MARKETS FOR Sri Lanka WERE (2022 - 2023):
China$713k (316%)
Singapore$704k (437%)
Oman$484k (99.7%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Iron or steel articles BY Sri Lanka WERE (2022 - 2023):
United States-$5.46M (-9.4%)
Australia-$1.76M (-89.1%)
Seychelles-$995k (-68.2%)

Change in Exports by Market (2022 - 2023)

Market Concentration

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Flow
Type
In 2023, Sri Lanka's main exporting competitors in Iron or steel articles were:
In 2023, Sri Lanka's main importing competitors in Iron or steel articles were:

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Trade Value of Iron or steel articles by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALIndia+ $1.95M
TOP IMPORT POTENTIALChina+ $51.6M

Iron or steel articles’s highest export potential is India. With an export gap of $1.95M.   Iron or steel articles’s highest import potential is China with an import gap of $51.6M.

See methodology.

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