2022
Exports
$13.3MWorld Rnk 141 / 223
Flag Rnk 63 / 96
2022
PRODUCT COMPLEXITY IN Iron & steel
1.68Rnk 28 / 1025
2022
Imports
$379MWorld Rnk 97 / 225
Flag Rnk 13 / 96
2022
ECONOMIC COMPLEXITY of Sri Lanka
-0.35Rnk 82 / 133

About

Exports In 2022, Sri Lanka exported $13.3M in Iron & steel, making it the 141st largest exporter of Iron & steel in the world. At the same year, Iron & steel was the 63rd most exported product in Sri Lanka. The main destination of Iron & steel exports from Sri Lanka are: Maldives ($6.83M), India ($3.53M), Malaysia ($714k), Oman ($589k), and Seychelles ($487k).

The fastest growing export markets for Iron & steel of Sri Lanka between 2021 and 2022 were Malaysia ($606k), Oman ($578k), and India ($463k).

Imports In 2022, Sri Lanka imported $379M in Iron & steel, becoming the 97th largest importer of Iron & steel in the world. At the same year, Iron & steel was the 13th most imported product in Sri Lanka. Sri Lanka imports Iron & steel primarily from: China ($135M), India ($128M), United Arab Emirates ($23.6M), Indonesia ($15.3M), and South Korea ($13.9M).

The fastest growing import markets in Iron & steel for Sri Lanka between 2021 and 2022 were United Arab Emirates ($14M), Japan ($2.17M), and South Africa ($1.45M).

COMPANIES In 2023, leading companies such as John Deere (14), SIGMA Corp (13), and Gap (4) were at the forefront of shipping Iron & steel from Sri Lanka to the United States.

Latest Trends

Oct 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 & steel. 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 (2022)$13.3M
IMPORTS (2022)$379M
NET TRADE (2022)-$366M

In 2022, Sri Lanka exported $13.3M in Iron & steel. The main destinations of Sri Lanka exports on Iron & steel were Maldives ($6.83M), India ($3.53M), Malaysia ($714k), Oman ($589k), and Seychelles ($487k).

In 2022, Sri Lanka imported $379M in Iron & steel, mainly from China ($135M), India ($128M), United Arab Emirates ($23.6M), Indonesia ($15.3M), and South Korea ($13.9M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Iron & steel EXPORT MARKETS FOR Sri Lanka WERE (2021 - 2022):
Malaysia$606k (562%)
Oman$578k (5.14k%)
India$463k (15.1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Iron & steel BY Sri Lanka WERE (2021 - 2022):
Maldives-$4M (-36.9%)
Pakistan-$650k (-99.4%)
United Arab Emirates-$341k (-69.7%)

Change in Exports by Market (2021 - 2022)

Market Concentration

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Flow
Type
In 2022, Sri Lanka's main exporting competitors in Iron & steel were:
China $69.8B
Germany $36.9B
Japan $35.7B
In 2022, Sri Lanka's main importing competitors in Iron & steel were:

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Trade Value of Iron & steel by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALIndia+ $2.61M
TOP IMPORT POTENTIALChina+ $39.1M

Iron & steel’s highest export potential is India. With an export gap of $2.61M.   Iron & steel’s highest import potential is China with an import gap of $39.1M.

See methodology.

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