Musical Instrument Strings Price in Croatia - 2023

Musical Instrument Strings Price in Croatia (FOB) - 2022

In 2022, the average musical instrument strings export price amounted to $14 per unit, picking up by 17% against the previous year. In general, the export price saw significant growth. The growth pace was the most rapid in 2019 when the average export price increased by 214%. Over the period under review, the average export prices hit record highs in 2022 and is likely to see steady growth in the near future.

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 South Korea ($38 per unit), while the average price for exports to Montenegro ($1.3 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 Taiwan (Chinese) (+128.7%), while the prices for the other major destinations experienced more modest paces of growth.

Musical Instrument Strings Price in Croatia (CIF) - 2022

In 2022, the average musical instrument strings import price amounted to $8.1 per unit, falling by -2.6% against the previous year. Overall, the import price, however, enjoyed a remarkable increase. The pace of growth appeared the most rapid in 2019 an increase of 152%. Over the period under review, average import prices reached the peak figure at $8.3 per unit in 2021, and then declined in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Austria ($26 per unit), while the price for China ($0.7 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Denmark (+22.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Musical Instrument Strings Exports in Croatia

In 2022, shipments abroad of musical instrument stringses decreased by -2.7% to 372K units for the first time since 2018, thus ending a three-year rising trend. Over the period under review, exports, however, showed a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 120% against the previous year. As a result, the exports reached the peak of 382K units, and then shrank modestly in the following year.

In value terms, musical instrument strings exports expanded notably to $5.2M in 2022. Overall, exports, however, posted a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 141% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to see gradual growth in the immediate term.

Export of Musical Instrument Strings in Croatia (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Hong Kong SAR	306	740	1,381	1,144	55.2%
China	6.0	3.5	190	1,091	466.5%
Germany	32.8	267	844	789	188.7%
Japan	393	677	809	597	15.0%
South Korea	39.2	85.2	454	508	134.9%
Taiwan (Chinese)	31.6	384	407	359	124.8%
Italy	49.3	34.5	70.9	53.2	2.6%
Montenegro	12.4	17.6	35.2	21.7	20.5%
Serbia	13.5	34.7	15.8	18.3	10.7%
Others	91.8	112	373	647	91.7%
Total	975	2,355	4,579	5,228	75.0%

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

Germany (191.1K units)
Hong Kong SAR (46.5K units)
China (40.3K units)
Japan (16.8K units)
Montenegro (16.6K units)
South Korea (13.4K units)
Taiwan (Chinese) (10.4K units)
Serbia (6.4K units)
Italy (3.3K units)

Musical Instrument Strings Imports in Croatia

For the fourth year in a row, Croatia recorded growth in overseas purchases of musical instrument stringses, which increased by 17% to 614K units in 2022. Overall, total imports indicated a strong increase from 2019 to 2022: its volume increased at an average annual rate of +18.6% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +66.8% against 2019 indices. The pace of growth was the most pronounced in 2020 with an increase of 20% against the previous year. Imports peaked in 2022 and are likely to continue growth in the near future.

In value terms, musical instrument strings imports totaled $4.9M in 2022. In general, imports saw a significant expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 94%. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the near future.

Import of Musical Instrument Strings in Croatia (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Austria	1,115	2,627	3,708	4,127	54.7%
Slovenia	206	180	155	231	3.9%
Denmark	N/A	2.3	6.6	216	869.1%
United States	118	152	270	168	12.5%
Germany	69.1	65.5	64.9	91.2	9.7%
Poland	0.5	12.9	41.3	59.7	392.4%
United Kingdom	22.2	24.4	35.4	27.2	7.0%
Others	75.4	58.8	54.1	21.0	-34.7%
Total	1,606	3,123	4,336	4,941	45.4%