Musical Instrument Strings Price in Australia - 2023

Contents:

1. Musical Instrument Strings Price in Australia (CIF) - 2023
2. Musical Instrument Strings Price in Australia (FOB) - 2022
3. Musical Instrument Strings Imports in Australia
4. Musical Instrument Strings Exports in Australia

Musical Instrument Strings Price in Australia (CIF) - 2023

In September 2023, the average musical instrument strings import price amounted to $35.6 per unit, falling by -22.1% against the previous month. Overall, the import price, however, posted significant growth. The most prominent rate of growth was recorded in March 2023 an increase of 694% month-to-month. Over the period under review, average import prices hit record highs at $45.7 per unit in August 2023, and then declined notably in the following month.

Average prices varied noticeably amongst the major supplying countries. In September 2023, the country with the highest price was the UK ($2.8 per unit), while the price for Italy stood at $2.8 per unit.

From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by China (+1.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Musical Instrument Strings Price in Australia (FOB) - 2022

In 2022, the average musical instrument strings export price amounted to $2 per unit, picking up by 37% against the previous year. Over the period under review, the export price enjoyed a slight increase. The growth pace was the most rapid in 2019 when the average export price increased by 38%. The export price peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($5.1 per unit), while the average price for exports to New Zealand ($0.6 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Czech Republic (+38,217.0%), while the prices for the other major destinations experienced more modest paces of growth.

Musical Instrument Strings Imports in Australia

In 2022, approx. 2.7M units of musical instrument stringses were imported into Australia; growing by 4.1% compared with 2021. The total import volume increased at an average annual rate of +1.1% over the period from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2020 with an increase of 4.4% against the previous year. As a result, imports attained the peak of 2.7M units; afterwards, it flattened through to 2022.

In value terms, musical instrument strings imports rose to $6.6M in 2022. The total import value increased at an average annual rate of +5.9% from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 10%. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.

Top Suppliers of Musical Instrument Strings to Australia in 2022:

1. United States (1867.1K units)
2. Germany (376.7K units)
3. Denmark (144.2K units)
4. Austria (69.6K units)
5. Mexico (62.3K units)
6. China (57.4K units)
7. United Kingdom (36.2K units)

Musical Instrument Strings Exports in Australia

In 2022, after two years of decline, there was significant growth in shipments abroad of musical instrument stringses, when their volume increased by 68% to 408K units. In general, exports, however, recorded a relatively flat trend pattern. The exports peaked at 418K units in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, musical instrument strings exports soared to $831K in 2022. Overall, exports recorded a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

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

1. Japan (190.4K units)
2. United States (82.1K units)
3. New Zealand (71.6K units)
4. France (35.1K units)
5. United Kingdom (11.7K units)
6. Germany (9.0K units)

Source: IndexBox Market Intelligence Platform