Musical Instrument Strings Price in Morocco - 2022

Contents:

1. Musical Instrument Strings Price in Morocco (CIF) - 2022
2. Musical Instrument Strings Price in Morocco (FOB) - 2022
3. Musical Instrument Strings Imports in Morocco
4. Musical Instrument Strings Exports in Morocco

Musical Instrument Strings Price in Morocco (CIF) - 2022

In 2022, the average musical instrument strings import price amounted to $0.9 per unit, surging by 38% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when the average import price increased by 71%. As a result, import price reached the peak level of $1.1 per unit. From 2017 to 2022, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($3 per unit), while the price for Taiwan (Chinese) ($0.4 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+10.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Musical Instrument Strings Price in Morocco (FOB) - 2022

In 2022, the average musical instrument strings export price amounted to $2 per unit, almost unchanged from the previous year. Overall, the export price continues to indicate a deep downturn. The most prominent rate of growth was recorded in 2020 when the average export price increased by 5.3%. Over the period under review, the average export prices attained the peak figure at $4.2 per unit in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for the Netherlands.

From 2015 to 2022, the rate of growth in terms of prices for Belgium amounted to -5.7% per year.

Musical Instrument Strings Imports in Morocco

Musical instrument strings imports into Morocco dropped significantly to 99K units in 2022, with a decrease of -47.4% compared with the year before. In general, imports recorded a slight shrinkage. The pace of growth was the most pronounced in 2021 with an increase of 121% against the previous year. As a result, imports attained the peak of 188K units, and then fell remarkably in the following year.

In value terms, musical instrument strings imports reduced markedly to $94K in 2022. Overall, total imports indicated tangible growth from 2019 to 2022: its value increased at an average annual rate of +3.4% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +40.3% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 94%. As a result, imports reached the peak of $130K, and then dropped markedly in the following year.

Top Suppliers of Musical Instrument Strings to Morocco in 2022:

1. China (43.7K units)
2. United States (31.4K units)
3. France (8.1K units)
4. Taiwan (Chinese) (7.9K units)
5. Italy (6.0K units)

Musical Instrument Strings Exports in Morocco

Musical instrument strings exports from Morocco amounted to 120 units in 2022, stabilizing at the previous year's figure. Overall, exports saw a abrupt slump. The smallest decline of -42.5% was in 2020. The exports peaked at 228 units in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, musical instrument strings exports soared to $236 in 2022. Over the period under review, exports continue to indicate a sharp decrease. Over the period under review, the exports reached the maximum at $491 in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Top Export Markets for Musical Instrument Strings from Morocco in 2022:

1. Netherlands (60.0 units)

Source: IndexBox Market Intelligence Platform