Musical Instrument Strings Price in Lithuania - 2023

Contents:

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

Musical Instrument Strings Price in Lithuania (FOB) - 2022

The average musical instrument strings export price stood at $3.7 per unit in 2022, increasing by 20% against the previous year. Overall, export price indicated a measured increase from 2012 to 2022: its price increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, musical instrument strings export price increased by +59.5% against 2020 indices. The pace of growth appeared the most rapid in 2013 an increase of 73% against the previous year. As a result, the export price reached the peak level of $4.9 per unit. From 2014 to 2022, the average export prices remained at a somewhat 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 Russia ($6.5 per unit), while the average price for exports to Latvia ($2.4 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 Kazakhstan (+14.4%), while the prices for the other major destinations experienced more modest paces of growth.

Musical Instrument Strings Price in Lithuania (CIF) - 2022

In 2022, the average musical instrument strings import price amounted to $3.9 per unit, jumping by 32% against the previous year. Over the period under review, the import price showed a pronounced increase. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Austria ($27 per unit), while the price for the Netherlands ($0.4 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+8.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Musical Instrument Strings Exports in Lithuania

In 2022, overseas shipments of musical instrument stringses decreased by -12.1% to 276K units for the first time since 2018, thus ending a three-year rising trend. Over the period under review, exports, however, continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 131% against the previous year. Over the period under review, the exports attained the peak figure at 314K units in 2021, and then contracted in the following year.

In value terms, musical instrument strings exports rose markedly to $1M in 2022. Overall, exports, however, enjoyed significant growth. The growth pace was the most rapid in 2021 when exports increased by 98% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.

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

1. Germany (106.5K units)
2. Russia (36.6K units)
3. Italy (27.8K units)
4. Kyrgyzstan (26.0K units)
5. Poland (25.1K units)
6. Kazakhstan (23.2K units)
7. Finland (17.6K units)
8. Latvia (5.7K units)

Musical Instrument Strings Imports in Lithuania

After three years of growth, supplies from abroad of musical instrument stringses decreased by -34.3% to 220K units in 2022. Overall, imports, however, recorded a remarkable increase. The pace of growth appeared the most rapid in 2021 with an increase of 48%. As a result, imports attained the peak of 335K units, and then declined rapidly in the following year.

In value terms, musical instrument strings imports contracted to $850K in 2022. In general, imports, however, continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2021 with an increase of 52% against the previous year. As a result, imports reached the peak of $982K, and then reduced in the following year.

Top Suppliers of Musical Instrument Strings to Lithuania in 2022:

1. Latvia (119.2K units)
2. United States (44.2K units)
3. France (20.1K units)
4. Germany (14.1K units)
5. Netherlands (10.0K units)
6. China (3.9K units)
7. Austria (3.6K units)

Source: IndexBox Market Intelligence Platform