Musical Instrument Strings Price in Portugal - 2023

Contents:

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

Musical Instrument Strings Price in Portugal (CIF) - 2022

The average musical instrument strings import price stood at $1.7 per unit in 2022, shrinking by -6.8% against the previous year. In general, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the average import price increased by 30% against the previous year. As a result, import price attained the peak level of $2.4 per unit. From 2018 to 2022, the average import prices remained at a somewhat lower figure.

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 Germany ($5.8 per unit), while the price for Belgium ($0.9 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+21.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Musical Instrument Strings Price in Portugal (FOB) - 2022

The average musical instrument strings export price stood at $0.4 per unit in 2022, falling by -57.5% against the previous year. Overall, the export price saw a deep downturn. The most prominent rate of growth was recorded in 2018 when the average export price increased by 110% against the previous year. As a result, the export price reached the peak level of $1.9 per unit. From 2019 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Switzerland ($2.2 per unit), while the average price for exports to Brazil ($0.3 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 Mozambique (+31.7%), while the prices for the other major destinations experienced more modest paces of growth.

Musical Instrument Strings Imports in Portugal

In 2022, purchases abroad of musical instrument stringses decreased by -15.9% to 627K units for the first time since 2018, thus ending a three-year rising trend. Overall, total imports indicated prominent growth from 2019 to 2022: its volume increased at an average annual rate of +8.9% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +29.0% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 39%. As a result, imports reached the peak of 746K units, and then reduced remarkably in the following year.

In value terms, musical instrument strings imports reduced markedly to $1.1M in 2022. The total import value 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. The most prominent rate of growth was recorded in 2021 when imports increased by 22% against the previous year. As a result, imports reached the peak of $1.4M, and then shrank significantly in the following year.

Top Suppliers of Musical Instrument Strings to Portugal in 2022:

1. Spain (421.1K units)
2. France (105.4K units)
3. Germany (37.2K units)
4. Belgium (18.1K units)
5. United Kingdom (11.0K units)
6. China (10.0K units)
7. United States (4.6K units)

Musical Instrument Strings Exports in Portugal

In 2022, approx. 52K units of musical instrument stringses were exported from Portugal; picking up by 408% on 2021 figures. Over the period under review, exports enjoyed a significant expansion. The pace of growth was the most pronounced in 2021 when exports increased by 653%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, musical instrument strings exports surged to $21K in 2022. In general, exports continue to indicate a significant increase. The pace of growth was the most pronounced in 2021 with an increase of 509% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to see gradual growth in the near future.

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

1. Brazil (48.7K units)
2. Mozambique (2.4K units)
3. Cabo Verde (0.7K units)
4. Angola (0.4K units)

Source: IndexBox Market Intelligence Platform