Musical Instrument Strings Price in South Africa - 2023

Contents:

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

Musical Instrument Strings Price in South Africa (CIF) - 2022

In 2022, the average musical instrument strings import price amounted to $1.2 per unit, increasing by 13% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 13% against the previous year. The import price peaked at $1.4 per unit in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($2.5 per unit), while the price for China ($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 UK (+2.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Musical Instrument Strings Price in South Africa (FOB) - 2022

The average musical instrument strings export price stood at $0.2 per unit in 2022, shrinking by -43.8% against the previous year. In general, the export price recorded a pronounced setback. The pace of growth appeared the most rapid in 2020 when the average export price increased by 386%. As a result, the export price reached the peak level of $1 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 the United States ($6.2 per unit), while the average price for exports to Cote d'Ivoire ($0.1 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 the United States (+40.6%), while the prices for the other major destinations experienced more modest paces of growth.

Musical Instrument Strings Imports in South Africa

In 2022, after three years of growth, there was significant decline in overseas purchases of musical instrument stringses, when their volume decreased by -39.6% to 380K units. In general, imports showed a abrupt contraction. The pace of growth was the most pronounced in 2021 when imports increased by 23% against the previous year. As a result, imports attained the peak of 629K units, and then declined markedly in the following year.

In value terms, musical instrument strings imports shrank markedly to $448K in 2022. Overall, imports saw a abrupt decrease. The growth pace was the most rapid in 2021 when imports increased by 31% against the previous year. As a result, imports reached the peak of $658K, and then contracted markedly in the following year.

Top Suppliers of Musical Instrument Strings to South Africa in 2022:

1. United States (196.4K units)
2. China (161.5K units)
3. United Kingdom (8.3K units)
4. Germany (5.7K units)

Musical Instrument Strings Exports in South Africa

In 2022, approx. 69K units of musical instrument stringses were exported from South Africa; increasing by 23% compared with 2021. Over the period under review, exports, however, recorded a deep downturn. The growth pace was the most rapid in 2021 when exports increased by 64%. The exports peaked at 92K units in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, musical instrument strings exports declined sharply to $12K in 2022. Overall, exports, however, showed a deep slump. The pace of growth was the most pronounced in 2020 with an increase of 80% against the previous year. As a result, the exports reached the peak of $35K. From 2021 to 2022, the growth of the exports failed to regain momentum.

Top Export Markets for Musical Instrument Strings from South Africa in 2022:

1. Botswana (9.1K units)
2. Namibia (6.5K units)
3. Swaziland (5.8K units)
4. Lesotho (3.6K units)
5. Zambia (2.5K units)
6. Cote d'Ivoire (1.0K units)
7. United States (0.7K units)

Source: IndexBox Market Intelligence Platform