2022
Exports
$545kWorld Rnk 66 / 200
Flag Rnk 86 / 96
2022
PRODUCT COMPLEXITY IN Musical instruments
1.43Rnk 66 / 1025
2022
Imports
$2.81MWorld Rnk 88 / 224
Flag Rnk 84 / 96
2022
ECONOMIC COMPLEXITY of Sri Lanka
-0.35Rnk 82 / 133

About

Exports In 2022, Sri Lanka exported $545k in Musical instruments, making it the 66th largest exporter of Musical instruments in the world. At the same year, Musical instruments was the 86th most exported product in Sri Lanka. The main destination of Musical instruments exports from Sri Lanka are: South Korea ($350k), Germany ($142k), Italy ($13k), Malaysia ($11.3k), and Maldives ($7.23k).

The fastest growing export markets for Musical instruments of Sri Lanka between 2021 and 2022 were South Korea ($51.9k), Germany ($40.3k), and Italy ($11.3k).

Imports In 2022, Sri Lanka imported $2.81M in Musical instruments, becoming the 88th largest importer of Musical instruments in the world. At the same year, Musical instruments was the 84th most imported product in Sri Lanka. Sri Lanka imports Musical instruments primarily from: China ($1.85M), Indonesia ($331k), Malaysia ($238k), India ($75.6k), and Japan ($64k).

The fastest growing import markets in Musical instruments for Sri Lanka between 2021 and 2022 were Montenegro ($33.4k), United Kingdom ($8.55k), and Canada ($7.52k).

COMPANIES In 2023, leading companies such as ASOS (1) were at the forefront of shipping Musical instruments from Sri Lanka to the United States.

Latest Trends

Jul 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 Musical instruments. 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)$545k
IMPORTS (2022)$2.81M
NET TRADE (2022)-$2.27M

In 2022, Sri Lanka exported $545k in Musical instruments. The main destinations of Sri Lanka exports on Musical instruments were South Korea ($350k), Germany ($142k), Italy ($13k), Malaysia ($11.3k), and Maldives ($7.23k).

In 2022, Sri Lanka imported $2.81M in Musical instruments, mainly from China ($1.85M), Indonesia ($331k), Malaysia ($238k), India ($75.6k), and Japan ($64k).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Musical instruments EXPORT MARKETS FOR Sri Lanka WERE (2021 - 2022):
South Korea$51.9k (17.4%)
Germany$40.3k (39.7%)
Italy$11.3k (660%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Musical instruments BY Sri Lanka WERE (2021 - 2022):
Maldives-$10k (-58.2%)
United States-$1.62k (-96.5%)
Saudi Arabia-$1k (-100%)

Change in Exports by Market (2021 - 2022)

Market Concentration

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Flow
Type
In 2022, Sri Lanka's main exporting competitors in Musical instruments were:
China $2.53B
Germany $1.01B
In 2022, Sri Lanka's main importing competitors in Musical instruments were:

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Trade Value of Musical instruments by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALGermany+ $29.2k
TOP IMPORT POTENTIALChina+ $440k

Musical instruments’s highest export potential is Germany. With an export gap of $29.2k.   Musical instruments’s highest import potential is China with an import gap of $440k.

See methodology.

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