Musical Instrument Strings Price in Japan - 2023

Contents:

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

Musical Instrument Strings Price in Japan (CIF) - 2022

The average musical instrument strings import price stood at $2.9 per unit in 2022, waning by -8.6% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.0%. The most prominent rate of growth was recorded in 2019 an increase of 12%. Over the period under review, average import prices attained the maximum at $3.2 per unit in 2021, and then dropped in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($21 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 Mexico (+9.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Musical Instrument Strings Price in Japan (FOB) - 2022

In 2022, the average musical instrument strings export price amounted to $1.2 per unit, surging by 12% against the previous year. Over the period under review, the export price, however, continues to indicate a perceptible shrinkage. The growth pace was the most rapid in 2020 when the average export price increased by 39% against the previous year. As a result, the export price attained the peak level of $1.5 per unit. From 2021 to 2022, the average export prices remained at a lower figure.

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 China ($4 per unit), while the average price for exports to Indonesia ($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 Vietnam (+9.9%), while the prices for the other major destinations experienced more modest paces of growth.

Musical Instrument Strings Imports in Japan

In 2022, the amount of musical instrument stringses imported into Japan surged to 7.5M units, jumping by 24% against the previous year. The total import volume increased at an average annual rate of +1.2% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, musical instrument strings imports rose remarkably to $22M in 2022. The total import value increased at an average annual rate of +2.8% from 2019 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Top Suppliers of Musical Instrument Strings to Japan in 2022:

1. United States (5.8M units)
2. China (0.8M units)
3. Mexico (0.2M units)
4. Italy (0.1M units)
5. Germany (0.1M units)
6. South Korea (0.1M units)

Musical Instrument Strings Exports in Japan

In 2022, after three years of growth, there was significant decline in shipments abroad of musical instrument stringses, when their volume decreased by -8.4% to 522K units. The total export volume increased at an average annual rate of +4.0% over the period from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 when exports increased by 17%. The exports peaked at 570K units in 2021, and then shrank in the following year.

In value terms, musical instrument strings exports amounted to $632K in 2022. Over the period under review, total exports indicated a strong increase from 2019 to 2022: its value increased at an average annual rate of +7.4% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -24.2% against 2020 indices. The pace of growth appeared the most rapid in 2020 with an increase of 63% against the previous year. As a result, the exports attained the peak of $833K. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

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

1. Indonesia (379.9K units)
2. United States (71.6K units)
3. China (20.7K units)
4. Vietnam (12.1K units)
5. United Arab Emirates (11.3K units)
6. Taiwan (Chinese) (9.7K units)

Source: IndexBox Market Intelligence Platform