Musical Instrument Strings Price in Austria - 2023

Musical Instrument Strings Price in Austria (CIF) - 2023

The average musical instrument strings import price stood at $8.5 per unit in August 2023, falling by -8.2% against the previous month. Over the period under review, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in April 2023 when the average import price increased by 32% against the previous month. Over the period under review, average import prices reached the peak figure at $11.0 per unit in May 2023; however, from June 2023 to August 2023, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In August 2023, the country with the highest price was Germany ($9.4 per unit), while the price for the UK ($3.6 per unit) was amongst the lowest.

From August 2022 to August 2023, the most notable rate of growth in terms of prices was attained by Mexico (+17.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Musical Instrument Strings Imports in Austria

Musical instrument strings imports into Austria rose notably to 619K units in 2022, growing by 14% against the previous year. In general, total imports indicated a prominent increase from 2019 to 2022: its volume increased at an average annual rate of +14.9% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -3.7% against 2020 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 57%. As a result, imports reached the peak of 643K units. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, musical instrument strings imports rose slightly to $4.5M in 2022. The total import value increased at an average annual rate of +10.0% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 when imports increased by 20%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Import of Musical Instrument Strings in Austria (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Germany	1,543	1,724	1,937	3,323	29.1%
France	369	485	391	390	1.9%
United States	489	643	708	223	-23.0%
Poland	100	197	176	138	11.3%
Italy	15.2	33.6	51.6	64.9	62.2%
Czech Republic	84.7	80.6	86.8	46.0	-18.4%
Mexico	41.4	27.1	32.0	27.1	-13.2%
United Kingdom	143	204	302	19.6	-48.4%
Sweden	328	368	207	15.2	-64.1%
Others	272	290	431	264	-1.0%
Total	3,386	4,052	4,323	4,511	10.0%