Musical Instrument Strings Price in Azerbaijan - 2023

Contents:

1. Musical Instrument Strings Price in Azerbaijan (CIF) - 2022
2. Musical Instrument Strings Imports in Azerbaijan

Musical Instrument Strings Price in Azerbaijan (CIF) - 2022

The average musical instrument strings import price stood at $1.1 per unit in 2022, growing by 161% against the previous year. In general, the import price recorded pronounced growth. The pace of growth was the most pronounced in 2019 when the average import price increased by 364% against the previous year. The import price peaked in 2022 and is expected to retain growth in years to come.

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 the United States ($3.8 per unit), while the price for South Korea ($0.1 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+27.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Musical Instrument Strings Imports in Azerbaijan

In 2022, after three years of growth, there was significant decline in overseas purchases of musical instrument stringses, when their volume decreased by -8.4% to 12K units. Overall, imports, however, showed a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 92%. As a result, imports attained the peak of 13K units, and then shrank in the following year.

In value terms, musical instrument strings imports soared to $13K in 2022. Over the period under review, imports, however, recorded a significant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Top Suppliers of Musical Instrument Strings to Azerbaijan in 2022:

1. China (7.9K units)
2. United States (2.5K units)
3. South Korea (1.0K units)
4. Turkey (0.2K units)

Source: IndexBox Market Intelligence Platform