Musical Instrument Strings Price in Colombia - 2022

Contents:

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

Musical Instrument Strings Price in Colombia (CIF) - 2022

In 2022, the average musical instrument strings import price amounted to $1 per unit, with an increase of 1.6% against the previous year. Over the last decade, it increased at an average annual rate of +2.6%. The most prominent rate of growth was recorded in 2013 an increase of 47% against the previous year. As a result, import price reached the peak level of $1.1 per unit. From 2014 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Argentina ($1.6 per unit), while the price for China ($0.5 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+3.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Musical Instrument Strings Price in Colombia (FOB) - 2022

In 2022, the average musical instrument strings export price amounted to $0.9 per unit, remaining relatively unchanged against the previous year. Overall, the export price showed a slight reduction. The most prominent rate of growth was recorded in 2014 when the average export price increased by 64% against the previous year. Over the period under review, the average export prices reached the maximum at $1.3 per unit in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($3.7 per unit), while the average price for exports to Chile ($0.5 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 Venezuela (-2.3%).

Musical Instrument Strings Imports in Colombia

In 2022, approx. 621K units of musical instrument stringses were imported into Colombia; reducing by -19.6% against 2021. Overall, imports saw a abrupt downturn. The most prominent rate of growth was recorded in 2021 when imports increased by 64%. As a result, imports reached the peak of 772K units, and then fell markedly in the following year.

In value terms, musical instrument strings imports fell significantly to $626K in 2022. Over the period under review, imports saw a pronounced contraction. The pace of growth was the most pronounced in 2021 with an increase of 57% against the previous year. As a result, imports reached the peak of $766K, and then contracted dramatically in the following year.

Top Suppliers of Musical Instrument Strings to Colombia in 2022:

1. China (270.9K units)
2. United States (252.7K units)
3. Democratic People's Republic of Korea (52.0K units)
4. Argentina (22.1K units)

Musical Instrument Strings Exports in Colombia

Musical instrument strings exports from Colombia contracted dramatically to 99 units in 2022, with a decrease of -24.4% compared with the previous year. Overall, exports showed a abrupt curtailment. The growth pace was the most rapid in 2021 when exports increased by 122%. Over the period under review, the exports hit record highs at 178 units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, musical instrument strings exports contracted markedly to $91 in 2022. In general, exports continue to indicate a abrupt decline. The pace of growth appeared the most rapid in 2021 when exports increased by 100% against the previous year. Over the period under review, the exports attained the peak figure at $157 in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

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

1. Venezuela (87.0 units)
2. Chile (6.0 units)
3. Netherlands (3.0 units)

Source: IndexBox Market Intelligence Platform