Musical Instrument Strings Price in Ireland - 2023

Contents:

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

Musical Instrument Strings Price in Ireland (CIF) - 2023

In August 2023, the average musical instrument strings import price amounted to $1.4 per unit, declining by -5.3% against the previous month. Overall, the import price saw a mild contraction. The most prominent rate of growth was recorded in October 2022 an increase of 38% m-o-m. The import price peaked at $2.0 per unit in January 2023; however, from February 2023 to August 2023, import prices failed to regain momentum.

Prices varied noticeably by the country of origin: the country with the highest price was Germany ($2.4 per unit), while the price for Pakistan ($455 per thousand units) was amongst the lowest.

From August 2022 to August 2023, the most notable rate of growth in terms of prices was attained by the UK (+0.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Musical Instrument Strings Price in Ireland (FOB) - 2022

The average musical instrument strings export price stood at $14 per unit in 2022, leveling off at the previous year. In general, the export price continues to indicate a significant increase. The pace of growth was the most pronounced in 2015 when the average export price increased by 1,195%. Over the period under review, the average export prices reached the maximum in 2022 and is likely to see gradual growth in the near future.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was France ($19 per unit), while the average price for exports to the UK ($2.2 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 United States (+30.3%), while the prices for the other major destinations experienced more modest paces of growth.

Musical Instrument Strings Imports in Ireland

For the third consecutive year, Ireland recorded decline in overseas purchases of musical instrument stringses, which decreased by 0% to 813K units in 2022. Overall, imports recorded significant growth. The smallest decline of -2.9% was in 2020. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, musical instrument strings imports amounted to $1.3M in 2022. In general, imports recorded a significant expansion. The pace of growth was the most pronounced in 2020 with an increase of 31% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to see gradual growth in the immediate term.

Top Suppliers of Musical Instrument Strings to Ireland in 2022:

1. United States (590.6K units)
2. United Kingdom (65.2K units)
3. Mexico (64.1K units)
4. China (22.9K units)
5. Austria (20.3K units)
6. Germany (19.4K units)
7. France (17.2K units)

Musical Instrument Strings Exports in Ireland

In 2022, overseas shipments of musical instrument stringses decreased by 0% to 38K units, falling for the second consecutive year after two years of growth. In general, exports saw a significant decline. The most prominent rate of growth was recorded in 2020 with an increase of 12% against the previous year. As a result, the exports attained the peak of 98K units. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, musical instrument strings exports amounted to $518K in 2022. Over the period under review, exports saw resilient growth. The growth pace was the most rapid in 2020 when exports increased by 12% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are likely to continue growth in the immediate term.

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

1. France (17.0K units)
2. Germany (10.6K units)
3. Belgium (3.8K units)
4. Italy (0.7K units)
5. United States (0.7K units)

Source: IndexBox Market Intelligence Platform