Musical Instrument Strings Price in Latvia - 2023
Contents:
- Musical Instrument Strings Price in Latvia (CIF) - 2022
- Musical Instrument Strings Price in Latvia (FOB) - 2022
- Musical Instrument Strings Imports in Latvia
- Musical Instrument Strings Exports in Latvia
Musical Instrument Strings Price in Latvia (CIF) - 2022
In 2022, the average musical instrument strings import price amounted to $2.4 per unit, with a decrease of -6% against the previous year. Over the period under review, import price indicated a mild expansion from 2012 to 2022: its price increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 an increase of 27%. Over the period under review, average import prices hit record highs at $2.5 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 Germany ($3.8 per unit), while the price for Italy ($0.6 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+69.3%), while the prices for the other major suppliers experienced more modest paces of growth.
Musical Instrument Strings Price in Latvia (FOB) - 2022
The average musical instrument strings export price stood at $4.5 per unit in 2022, reducing by -12.2% against the previous year. Overall, the export price, however, saw resilient growth. The most prominent rate of growth was recorded in 2020 when the average export price increased by 104% against the previous year. Over the period under review, the average export prices hit record highs at $5.1 per unit in 2021, and then contracted in the following year.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Estonia ($5.4 per unit), while the average price for exports to Turkey ($1.8 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 Lithuania (+25.3%), while the prices for the other major destinations experienced more modest paces of growth.
Musical Instrument Strings Imports in Latvia
After three years of growth, overseas purchases of musical instrument stringses decreased by -10.8% to 242K units in 2022. Over the period under review, imports, however, showed significant growth. The most prominent rate of growth was recorded in 2020 when imports increased by 113% against the previous year. Over the period under review, imports attained the peak figure at 271K units in 2021, and then declined in the following year.
In value terms, musical instrument strings imports contracted notably to $574K in 2022. Overall, imports, however, showed significant growth. The most prominent rate of growth was recorded in 2020 when imports increased by 157%. Over the period under review, imports reached the peak figure at $684K in 2021, and then contracted notably in the following year.
| Import of Musical Instrument Strings in Latvia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 126 | 284 | 360 | 210 | 18.6% |
| United States | 86.9 | 150 | 192 | 196 | 31.1% |
| France | 0.1 | 43.1 | N/A | 32.2 | 585.4% |
| Bulgaria | N/A | N/A | 66.9 | 32.1 | -52.0% |
| United Kingdom | 0.8 | 93.8 | 30.4 | 21.0 | 197.2% |
| Netherlands | N/A | 4.2 | 7.8 | 20.3 | 119.8% |
| Italy | 0.1 | 1.7 | 4.5 | 16.2 | 445.1% |
| Poland | 0.1 | 0.7 | 2.5 | 11.1 | 380.6% |
| Others | 19.7 | 22.9 | 20.5 | 34.2 | 20.2% |
| Total | 233 | 600 | 684 | 574 | 35.1% |
Top Suppliers of Musical Instrument Strings to Latvia in 2022:
- United States (102.1K units)
- Germany (55.9K units)
- Italy (25.3K units)
- France (11.0K units)
- Bulgaria (10.4K units)
- Netherlands (9.6K units)
- Poland (9.1K units)
- United Kingdom (7.2K units)
Musical Instrument Strings Exports in Latvia
Musical instrument strings exports from Latvia contracted to 104K units in 2022, with a decrease of -12.7% on 2021 figures. Overall, exports continue to indicate a sharp slump. Over the period under review, the exports reached the peak figure at 222K units in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.
In value terms, musical instrument strings exports shrank dramatically to $468K in 2022. In general, total exports indicated a remarkable increase from 2019 to 2022: its value increased at an average annual rate of +10.1% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when exports increased by 43%. Over the period under review, the exports reached the maximum at $610K in 2021, and then dropped remarkably in the following year.
| Export of Musical Instrument Strings in Latvia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Lithuania | 283 | 345 | 562 | 327 | 4.9% |
| Estonia | 44.1 | 25.6 | 37.3 | 42.8 | -1.0% |
| Russia | N/A | 123 | 5.8 | 42.4 | -41.3% |
| Turkey | N/A | N/A | 1.0 | 30.0 | 2900.0% |
| Armenia | 0.3 | N/A | 0.1 | 4.8 | 152.0% |
| Others | 23.7 | 7.0 | 4.5 | 21.0 | -4.0% |
| Total | 351 | 501 | 610 | 468 | 10.1% |
Top Export Markets for Musical Instrument Strings from Latvia in 2022:
- Lithuania (62.1K units)
- Turkey (16.4K units)
- Russia (12.6K units)
- Estonia (7.9K units)
- Armenia (2.0K units)
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