Musical Instrument Strings Price in New Zealand - 2023

Contents:

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

Musical Instrument Strings Price in New Zealand (CIF) - 2022

The average musical instrument strings import price stood at $2.5 per unit in 2022, standing approx. at the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.6%. The pace of growth was the most pronounced in 2014 when the average import price increased by 21% against the previous year. Over the period under review, average import prices attained the maximum at $2.5 per unit in 2021, and then dropped slightly in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Australia ($2.5 per unit) and the United States ($2.5 per unit), while the price for China ($2.5 per unit) and the UK ($2.5 per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+9.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Musical Instrument Strings Price in New Zealand (FOB) - 2022

The average musical instrument strings export price stood at $13 per unit in 2022, increasing by 468% against the previous year. In general, the export price enjoyed a buoyant expansion. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($13 per unit), while the average price for exports to Cook Islands ($2.3 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 Japan (+472.5%), while the prices for the other major destinations experienced more modest paces of growth.

Musical Instrument Strings Imports in New Zealand

In 2022, after three years of growth, there was significant decline in purchases abroad of musical instrument stringses, when their volume decreased by -27.3% to 386K units. Overall, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 36%. As a result, imports attained the peak of 531K units, and then shrank markedly in the following year.

In value terms, musical instrument strings imports shrank dramatically to $954K in 2022. Over the period under review, total imports indicated a buoyant increase from 2019 to 2022: its value increased at an average annual rate of +6.0% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +18.9% against 2019 indices. The growth pace was the most rapid in 2021 with an increase of 49%. As a result, imports reached the peak of $1.3M, and then shrank significantly in the following year.

Top Suppliers of Musical Instrument Strings to New Zealand in 2022:

1. United States (246.5K units)
2. Mexico (32.2K units)
3. Taiwan (Chinese) (24.2K units)
4. Australia (22.4K units)
5. Austria (17.5K units)
6. Germany (16.1K units)
7. United Kingdom (9.0K units)
8. Italy (3.7K units)
9. China (3.2K units)

Musical Instrument Strings Exports in New Zealand

In 2022, overseas shipments of musical instrument stringses decreased by -12.1% to 1.4K units, falling for the second consecutive year after two years of growth. Over the period under review, exports saw a dramatic setback. The most prominent rate of growth was recorded in 2020 with an increase of 9.3%. As a result, the exports reached the peak of 6.9K units. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, musical instrument strings exports skyrocketed to $18K in 2022. Overall, exports continue to indicate a abrupt curtailment. The exports peaked at $25K in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Top Export Markets for Musical Instrument Strings from New Zealand in 2022:

1. United States (767.0 units)
2. Fiji (279.0 units)
3. Japan (239.0 units)
4. United Kingdom (86.0 units)
5. Cook Islands (12.0 units)

Source: IndexBox Market Intelligence Platform