2023
Exports
$7.72MWorld Rnk 124 / 207
Flag Rnk 166 / 1073
2023
PRODUCT COMPLEXITY IN Scrap Iron
-0.57Rnk 726 / 1025
2023
Imports
$592kWorld Rnk 95 / 177
Flag Rnk 744 / 1170
2023
ECONOMIC COMPLEXITY of Sri Lanka
-0.44Rnk 85 / 132

About

Exports In 2023, Sri Lanka exported $7.72M in Scrap Iron, making it the 124th largest exporter of Scrap Iron in the world. At the same year, Scrap Iron was the 166th most exported product in Sri Lanka. The main destination of Scrap Iron exports from Sri Lanka are: India ($6.76M), Malaysia ($693k), United Arab Emirates ($135k), Singapore ($110k), and Bangladesh ($6.32k).

The fastest growing export markets for Scrap Iron of Sri Lanka between 2022 and 2023 were India ($4.44M), Malaysia ($693k), and Bangladesh ($6.32k).

Imports In 2023, Sri Lanka imported $592k in Scrap Iron, becoming the 95th largest importer of Scrap Iron in the world. At the same year, Scrap Iron was the 744th most imported product in Sri Lanka. Sri Lanka imports Scrap Iron primarily from: Malaysia ($401k), Turkey ($79.1k), United States ($60.9k), United Kingdom ($30.7k), and India ($20.8k).

The fastest growing import markets in Scrap Iron for Sri Lanka between 2022 and 2023 were Malaysia ($129k), Turkey ($79.1k), and United Kingdom ($30.7k).

COMPANIES In 2024, leading companies such as SIGMA Corp (23) were at the forefront of shipping Scrap Iron 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 Scrap Iron. 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)$7.72M
IMPORTS (2023)$592k
NET TRADE (2023)$7.13M

In 2023, Sri Lanka exported $7.72M in Scrap Iron. The main destinations of Sri Lanka exports on Scrap Iron were India ($6.76M), Malaysia ($693k), United Arab Emirates ($135k), Singapore ($110k), and Bangladesh ($6.32k).

In 2023, Sri Lanka imported $592k in Scrap Iron, mainly from Malaysia ($401k), Turkey ($79.1k), United States ($60.9k), United Kingdom ($30.7k), and India ($20.8k).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Scrap Iron EXPORT MARKETS FOR Sri Lanka WERE (2022 - 2023):
India$4.44M (191%)
Malaysia$693k (1%)
Bangladesh$6.32k (1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Scrap Iron BY Sri Lanka WERE (2022 - 2023):
Singapore-$114k (-51.1%)
United Arab Emirates-$36.9k (-21.4%)
South Korea-$2.3k (-100%)

Change in Exports by Market (2022 - 2023)

Market Concentration

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Flow
Type
In 2023, Sri Lanka's main exporting competitors in Scrap Iron were:
In 2023, Sri Lanka's main importing competitors in Scrap Iron were:
Turkey $7.59B
India $6.63B
Italy $2.59B

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Trade Value of Scrap Iron by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALIndia+ $2.51M
TOP IMPORT POTENTIALUnited States+ $493k

Scrap Iron’s highest export potential is India. With an export gap of $2.51M.   Scrap Iron’s highest import potential is United States with an import gap of $493k.

See methodology.

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