2023
Exports
$14.6MWorld Rnk 139 / 219
Flag Rnk 58 / 96
2023
PRODUCT COMPLEXITY IN Iron & steel
1.66Rnk 26 / 1025
2023
Imports
$468MWorld Rnk 91 / 224
Flag Rnk 9 / 96
2023
ECONOMIC COMPLEXITY of Sri Lanka
-0.44Rnk 85 / 132

About

Exports In 2023, Sri Lanka exported $14.6M in Iron & steel, making it the 139th largest exporter of Iron & steel in the world. At the same year, Iron & steel was the 58th most exported product in Sri Lanka. The main destination of Iron & steel exports from Sri Lanka are: India ($7.07M), Maldives ($3.14M), Malaysia ($1.74M), Oman ($1.17M), and Slovakia ($408k).

The fastest growing export markets for Iron & steel of Sri Lanka between 2022 and 2023 were India ($3.54M), Malaysia ($952k), and Oman ($525k).

Imports In 2023, Sri Lanka imported $468M in Iron & steel, becoming the 91st largest importer of Iron & steel in the world. At the same year, Iron & steel was the 9th most imported product in Sri Lanka. Sri Lanka imports Iron & steel primarily from: China ($182M), India ($154M), South Africa ($25.5M), United Arab Emirates ($20.1M), and Qatar ($14.7M).

The fastest growing import markets in Iron & steel for Sri Lanka between 2022 and 2023 were China ($53.9M), India ($21M), and South Africa ($19.8M).

COMPANIES In 2024, leading companies such as SIGMA Corp (23), John Deere (8), and Kontoor Brands (6) were at the forefront of shipping Iron & steel 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 & 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 (2023)$14.6M
IMPORTS (2023)$468M
NET TRADE (2023)-$454M

In 2023, Sri Lanka exported $14.6M in Iron & steel. The main destinations of Sri Lanka exports on Iron & steel were India ($7.07M), Maldives ($3.14M), Malaysia ($1.74M), Oman ($1.17M), and Slovakia ($408k).

In 2023, Sri Lanka imported $468M in Iron & steel, mainly from China ($182M), India ($154M), South Africa ($25.5M), United Arab Emirates ($20.1M), and Qatar ($14.7M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Iron & steel EXPORT MARKETS FOR Sri Lanka WERE (2022 - 2023):
India$3.54M (100%)
Malaysia$952k (121%)
Oman$525k (80.9%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Iron & steel BY Sri Lanka WERE (2022 - 2023):
Maldives-$4.13M (-56.9%)
Seychelles-$400k (-77.9%)
Singapore-$277k (-65.8%)

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 & steel were:
China $66.2B
Germany $32.6B
Japan $31.6B
In 2023, 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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