An island nation in South Asia, the Democratic Socialist Republic of Sri Lanka was formerly called Ceylon. Sri Lanka is located near its two biggest trading partners China and India.
With a population of 22 million people, Sri Lanka offers a consumer marketplace with intriguing potential. Sri Lanka has the world’s 56th richest economy, generating a Gross Domestic Product (GDP) on a Purchasing Power Parity basis worth US$311.2 billion as of October 2021.
Sri Lanka has 2 official languages, Sinhala and Tamil. English is considered a link language in Sri Lanka, fluently spoken by about a quarter of all Sri Lankans and with English translations appearing as the third entry on most road signs.
Sri Lanka’s demand for imported consumer goods in 2020 resulted in a subtotal US$6.9 billion worth of Sri Lankan spending on the 100 most valuable consumer imports identified in this article.
That consumer-driven dollar amount translates to 44.5% of the overall value of all goods imported into Sri Lanka. Spending on all Sri Lankan imports, including raw materials, intermediate products and semi-finished goods, totaled an estimated overall $15.6 billion in 2020.
Among Sri Lanka’s most valuable imported consumer products in 2020 are: processed petroleum oils; medications; phone devices including smartphones; wide-knit or crocheted fabrics; and concentrated or sweetened milk and cream.
Spending on all of Sri Lanka’s imported goods declined by -19.9% from 2019 to 2020. Sri Lanka’s purchases focused on its top 100 consumer imports decreased in value by an even more aggressive -21.2% over the latest annual period.
The deceleration in Sri Lankan spending for key imported consumer products exceeded the global average from 2019 to 2020, which was an average drop of -8.2% for all importing countries around the world.
Among the top 100 consumer products imported by Sri Lanka, 33 increased in total value from 2019 to 2020 whereas the remaining 67 declined.
Changes in Sri Lankan consumer demand for essential imports offer future opportunities for international suppliers who correctly anticipate which upward or downward trends will continue.
Consumer Products Defined
Economics educator BoyceWire defines a consumer product as a final good or end product that a business creates for consumers to buy. For example, consumers often purchase refined petroleum oil at the gas station while imported crude oil is an intermediate good subject to further processing before being sold to end users.
Although there may be a few wealthy individual buyers, products like turbojets are excluded from the consumer products targeted by this study. That is because turbojets are usually purchased by corporations. In contrast, it is common for a consumer to buy a motorcycle.
Types of Consumer Products
This article focuses on 3 distinct consumer product types.
Convenience Products are easy to access, non-durable, have relatively lower prices and therefore consumers frequently purchase them. Examples of convenience products are food, alcoholic or non-alcoholic drinks, and soap.
Shopping Products are not as easily available, involve more time to make a buying decision, are durable and are not bought as often as most convenience products. A great example of a shopping product is a mobile phone where buying the wrong model is a much more expensive mistake than buying a disappointing loaf of bread.
Specialty Products describe another consumer product type. This grey area includes infrequently purchased, expensive, durable and sometimes rare items. Consumers may consider the product’s brand image when making their purchase decisions. Some examples of speciality products are gold, silver, diamonds, jewelry, and branded refrigerators and dishwashers.
Sri Lankan Consumer Imports Smart List
The searchable marketing intelligence table below showcases Sri Lanka’s 100 most valuable imported consumer products in descending order. Items were selected at the four-digit Harmonized System tariff classification code level.
The table’s fourth column is labeled YOY for year over year. The fifth column identifies each entry’s consumer product type.
| # | Imported Product | US$ | YOY | |
|---|---|---|---|---|
| 1 | Processed petroleum oils | $1,165,695,000 | -46.1% | CP |
| 2 | Medications | $419,140,000 | +8% | CP |
| 3 | Phones | $407,583,000 | -7.8% | SP |
| 4 | Wide knit or crochet fabrics | $323,515,000 | -5.5% | SP |
| 5 | Concentrated/sweetened milk | $316,290,000 | +8% | CP |
| 6 | Petroleum gas | $276,785,000 | +13.2% | CP |
| 7 | Sugar (cane or beet) | $264,876,000 | +41.1% | CP |
| 8 | Cars | $236,812,000 | -63.5% | SP |
| 9 | Coal, solid fuels made from coal | $216,509,000 | +0.2% | CP |
| 10 | Nitrogenous fertilizers | $172,012,000 | +31.6% | SY |
| 11 | Dried shelled vegetables | $159,005,000 | +10.5% | CP |
| 12 | Computers, optical readers | $157,445,000 | +3.5% | SP |
| 13 | Onions, garlic, leeks | $148,785,000 | +19.7% | CP |
| 14 | Trucks | $136,591,000 | -46% | SP |
| 15 | Dried or salted fish | $103,710,000 | +12.6% | CP |
| 16 | Uncoated paper for writing/printing | $96,424,000 | -23.2% | CP |
| 17 | Peppers | $95,037,000 | +13.7% | CP |
| 18 | Palm oil | $89,307,000 | -3.5% | CP |
| 19 | Diamonds (unmounted/unset) | $83,258,000 | -31.2% | SY |
| 20 | Packaged insecticides, herbicides | $64,738,000 | +22.9% | SP |
| 21 | Electrical converters/power units | $62,340,000 | -12.2% | SP |
| 22 | Lower-voltage switches, fuses | $58,745,000 | -7% | SP |
| 23 | Fish, caviar (preserved/prepared) | $58,099,000 | -23.9% | CP |
| 24 | Potassic fertilizers | $53,319,000 | -4.6% | SY |
| 25 | Motorcycles | $52,945,000 | -73.8% | SP |
| 26 | Motorcycle parts/accessories | $51,860,000 | +2.6% | SP |
| 27 | Refrigerators, freezers | $50,962,000 | -7.9% | SY |
| 28 | Malt extract, food preparations | $50,744,000 | +14.7% | CP |
| 29 | Other food preparations | $50,280,000 | -6.2% | CP |
| 30 | Air conditioners | $48,264,000 | -16.2% | SY |
| 31 | Automobile parts/accessories | $47,559,000 | -19.9% | SP |
| 32 | Printing machinery | $47,477,000 | -9.9% | SP |
| 33 | Tractors | $46,750,000 | +16.6% | SP |
| 34 | Insulated wire/cable | $46,313,000 | -20.4% | SP |
| 35 | Miscellaneous plastic items | $44,218,000 | -12.6% | CP |
| 36 | Miscellaneous iron or steel items | $43,425,000 | +11.7% | SP |
| 37 | Potatoes | $42,710,000 | +19.6% | CP |
| 38 | Electric generating sets, converters | $42,256,000 | -35.1% | SY |
| 39 | Provitamins, vitamins | $42,015,000 | -3.8% | CP |
| 40 | Sewing machines, related furniture | $40,060,000 | -31.8% | SY |
| 41 | Electric storage batteries | $35,916,000 | -3.1% | SY |
| 42 | Plastic packing goods, lids, caps | $35,248,000 | -16.1% | CP |
| 43 | Rubber tires (new) | $35,103,000 | -39.8% | SP |
| 44 | Dishwash, clean/dry/fill machines | $34,658,000 | -14.2% | SY |
| 45 | Other organic cleaning preparations | $34,639,000 | -4.5% | CP |
| 46 | Hot-rolled iron/non-alloy steel items | $33,215,000 | -17.8% | SP |
| 47 | Orthopedic appliances | $32,389,000 | -11.3% | SP |
| 48 | Liquid pumps | $31,738,000 | -31.4% | SY |
| 49 | Bras, corsets (unknit/non-crochet) | $31,095,000 | -24.3% | SP |
| 50 | Temperature-change machines | $30,779,000 | -24.5% | SY |
| 51 | Unrecorded sound media | $28,059,000 | -22.6% | SP |
| 52 | Electric water heaters, hair dryers | $25,561,000 | -7.5% | SY |
| 53 | Screws, bolts, washers, hooks, pins | $25,033,000 | -23.6% | SP |
| 54 | Whole fish (frozen) | $23,792,000 | -36.3% | CP |
| 55 | Miscellaneous textile items | $23,721,000 | +711.5% | SP |
| 56 | Prefabricated buildings | $22,843,000 | -9.8% | SY |
| 57 | Vulcanized rubber items | $21,973,000 | -19% | SP |
| 58 | Women's clothing (not knit/crochet) | $21,315,000 | -43% | SP |
| 59 | Precious/semi-precious stones (unstrung) | $19,705,000 | -65.2% | SY |
| 60 | Alcohol (including spirits, liqueurs) | $19,454,000 | -58.7% | CP |
| 61 | Electric lamps | $16,108,000 | -12.2% | SP |
| 62 | Apples, pears (fresh) | $16,025,000 | -30.8% | CP |
| 63 | Tea (including flavored) | $15,525,000 | -17.1% | CP |
| 64 | Linens | $15,048,000 | -32.3% | SP |
| 65 | Prepared glues, adhesives | $15,006,000 | -11.1% | SP |
| 66 | Corn | $14,239,000 | -51.4% | CP |
| 67 | Margarine | $14,168,000 | +7.2% | CP |
| 68 | Computer parts, accessories | $14,148,000 | +0.7% | SP |
| 69 | Household base metal mountings | $14,091,000 | -16.7% | SY |
| 70 | Fish or meat flours, pellets | $14,003,000 | +5.8% | SP |
| 71 | Other pharmaceutical goods | $13,508,000 | +4.3% | SP |
| 72 | Miscellaneous furniture | $13,466,000 | -30.3% | SP |
| 73 | Paints, varnishes | $13,252,000 | -13.9% | SP |
| 74 | Aluminum foil | $13,205,000 | +35% | SP |
| 75 | Sanitary towels, baby napkins/liners | $13,201,000 | +18.5% | CP |
| 76 | Cheese, curd | $13,187,000 | +4.2% | CP |
| 77 | Plastic wares (table, kitchen, toiletry) | $13,103,000 | -24% | CP |
| 78 | Grapes (fresh or dried) | $12,792,000 | -30.5% | CP |
| 79 | Men's suits (unknit/non-crochet) | $12,532,000 | -52.8% | SP |
| 80 | Sports equipment | $11,794,000 | -9.6% | SP |
| 81 | Sowing seeds, fruits, spores | $11,668,000 | +14.5% | CP |
| 82 | Caps, lids, corks, pouring stoppers | $11,608,000 | +4.8% | SP |
| 83 | Soap, organic surface-active goods | $11,483,000 | +18.7% | SP |
| 84 | Fertilizer mixes | $11,419,000 | +18.1% | SY |
| 85 | Paper containers, cellulose wadding | $10,861,000 | -12.6% | SP |
| 86 | Miscellaneous vegetable products | $10,583,000 | +47.8% | CP |
| 87 | Rice | $10,450,000 | -18.5% | CP |
| 88 | Dates/pineapples/mango/avocado | $10,091,000 | +9.7% | CP |
| 89 | Washing machines | $9,264,000 | -32.4% | SY |
| 90 | Antibiotics | $9,076,000 | +22.4% | CP |
| 91 | Gold (unwrought) | $8,622,000 | +238.3% | SY |
| 92 | Iron/steel stoves, barbecues | $8,383,000 | -11.1% | SY |
| 93 | Lubricant/anti-rust preparations | $8,319,000 | -8.8% | SP |
| 94 | Women's shirts (not knit or crochet) | $7,806,000 | -36.4% | SP |
| 95 | Glass bottles, other containers | $7,798,000 | -7.1% | SP |
| 96 | Footwear (leather) | $7,569,000 | -25.4% | SP |
| 97 | Microphones/headphones/amps | $7,548,000 | -4.6% | SP |
| 98 | Printed books, brochures | $7,499,000 | -46.2% | SP |
| 99 | Electromechanic appliances | $7,448,000 | -23.7% | SY |
| 100 | Compasses, other navigational aids | $7,399,000 | -10.6% | SY |
Totaling 44 items, Sri Lanka’s most popular product type is shopping products (SP). This cohort was led by imported phone devices including smartphones; wide-knit or crocheted fabrics; cars; computers including optical readers; trucks; packaged insecticides or herbicides; and electrical converters or power units.
In second place via 35 items are convenience products (CP), articles that are bought routinely, used only once and generally require less thinking time before making a buying decision. Popular examples include processed petroleum oils; medications; concentrated or sweetened milk; petroleum gas; sugar; coal including solid fuels made from coal; and dried shelled vegetables.
Another 21 speciality products (SY) rank among Sri Lanka’s top 100 imported consumer goods. Major speciality products imported into Sri Lanka include nitrogenous fertilizers; unmounted diamonds; potassic fertilizers; refrigerators or freezers; air conditioners; and electric generating sets or converters.
Durable consumer products are goods like cars, trucks, printing machinery, insulated wire or cable, and furniture that last a relatively long time. Consumers can put durable products to use again and again. By product type, note that both shopping products and speciality products are considered as durable consumer goods.
Non-durable consumer products (ND) are goods that are not re-used once consumed. Coal, medications, sugar and corn are examples of non-durable goods. Convenience products are uniquely non-durable consumer products.
Based on the product types identified in the above table, 65 of Sri Lanka’s highest-value consumer imported products are durable while 35 are classified as non-durable.
Using the provided table, you can also peruse the greatest increases or decreases in product values from 2019 to 2020. To do so, click on the heading of the fourth column.
Fastest-Growing Consumer Imports
Listed below are the top 10 consumer products imported into Sri Lanka that experienced the highest percentage increases in spending from 2019 to 2020.
- Miscellaneous textile items: Up 711.5% (US$23.7 million)
- Gold (unwrought): Up 238.3% ($8.6 million)
- Miscellaneous vegetable products: Up 47.8% ($10.6 million)
- Sugar (cane or beet): Up 41.1% ($264.9 million)
- Aluminum foil: Up 35% ($13.2 million)
- Nitrogenous fertilizers: Up 31.6% ($172 million)
- Packaged insecticides, herbicides: Up 22.9% ($64.7 million)
- Antibiotics: Up 22.4% ($9.1 million)
- Onions, garlic, leeks: Up 19.7% ($148.8 million)
- Potatoes: Up 19.6% ($42.7 million)
Two among the above top 10 gainers are speciality products and therefore also durable good that consumers can store or re-use over time. Those speciality products are gold and nitrogenous fertilizers.
There are 3 fastest-growers that we categorize as imported shopping products. These are miscellaneous textile items, aluminum foil, and packaged insecticides or herbicides.
The remaining 5 front-runners are considered as one-time usage (non-durable) imported convenience products. These growth leaders are miscellaneous vegetable products; sugar; antibiotics; onions, garlic and leeks; and potatoes.
Worst-Declining Consumer Imports
Spending by import buyers in Sri Lanka on the following 10 items decreased in value by the highest percentages from 2019 to 2020.
- Motorcycles: Down -73.8% (US$52.9 million)
- Precious/semi-precious stones (unstrung): Down -65.2% ($19.7 million)
- Cars: Down -63.5% ($236.8 million)
- Alcohol (including spirits, liqueurs): Down -58.7% ($19.5 million)
- Men’s suits (not knit nor crocheted): Down -52.8% ($12.5 million)
- Corn: Down -51.4% ($14.2 million)
- Printed books, brochures: Down -46.2% ($7.5 million)
- Processed petroleum oils: Down -46.1% ($1.2 billion)
- Trucks: Down -46% ($136.6 million)
- Women’s clothing (not knit nor crocheted): Down -43% ($21.3 million)
Six categories among Sri Lanka’s top 10 severest decliners are durable shopping products used over a period of time. The severest slippages among those categories were for Sri Lanka’s imported motorcycles; cars; unknitted and non-crocheted men’s suits; printed books or brochures; trucks; and unknitted and non-crocheted women’s clothing.
There were 3 items categorized as convenience products among Sri Lanka’s 10 major import decliners from 2019 to 2020, namely spirits and liqueurs; corn; and processed petroleum oils.
The worst decline among durable speciality goods was for unstrung precious or semi-precious stones.
Key Product Suppliers by Country
The following analysis reveals competitive suppliers that target demand for 5 of Sri Lanka’s top consumer import products.
Sri Lanka’s biggest imported consumer product by value is processed petroleum oils. The other 4 leading consumer goods imported into Sri Lanka are medications, phone devices including smartphones, wide knitted or crocheted fabrics and concentrated or sweetened milk and cream.
Below, you will find major supplying countries for Sri Lanka’s imported:
Processed petroleum oils: Singapore (33.5% of total), Malaysia (18.9%), India (18.8%), United Arab Emirates (12.9%), Saudi Arabia (4.8%), Oman (2.7%), Bahrain (1.9%), Netherlands (1.7%), Kuwait (1.4%), and China (1.2%).
Medications: India (54.4% of total), Pakistan (6.7%), Bangladesh (5.7%), France (4.8%), Germany (4.2%), Indonesia (3.1%), China (2.35%), United States (2.3%), Denmark (1.78%), and the United Kingdom (1.77%).
Phone devices including smartphones: China (75.5% of total), Vietnam (14.7%), India (3.4%), Singapore (2%), United States (0.8%), Hong Kong (0.62%) and Malaysia (0.58%).
Wide knitted or crocheted fabrics: China (35% of total), India (26.4%), Italy (14%), Taiwan (13.8%), Vietnam (2.8%), South Korea (1.2%), Germany (1.1%), Serbia (1.08%), Hong Kong (1.03%), and Pakistan (1%).
Concentrated or sweetened milk and cream: New Zealand (92.2% of total), United States (2.4%), Australia (2.1%), Netherlands (1.5%), United Kingdom (0.7%), Belgium (0.6%) and Canada (0.3%).
See also
More great research: Netherlands 100 Most Valuable Imported Consumer Products, Bangladesh’s 100 Most Valuable Imported Consumer Products, United Kingdom’s Top 100 Imported Consumer Products, Denmark’s 100 Most Imported Consumer Products, Sweden’s Top Imported Consumer Products Ranked by Value
References
Independent insights and analysis presented in this article are based on researched facts and statistics sourced from the following educational portals.
BoyceWire, Consumer Goods Definition.
Central Intelligence Agency, The World Factbook: Sri Lanka Economy.
International Monetary Fund, World Economic Outlook Databases.
International Trade Centre, Trade Map.
Investopedia, Consumer Goods, Consumer Staples Definition, Fast-Moving Consumer Goods (FMCG).
Richest Country Reports, Top 100 Richest Countries by GDP.
Trading Economics, Sri Lanka Consumer Spending.
Wikipedia, List of largest consumer markets.
Wikipedia, Sri Lanka, Geography of Sri Lanka, Languages of Sri Lanka.
World’s Top Exports, Sri Lanka’s Top 10 Imports.
