Musical Instrument Strings Price in Thailand - 2023

Contents:

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

Musical Instrument Strings Price in Thailand (CIF) - 2022

In 2022, the average musical instrument strings import price amounted to $1.1 per unit, picking up by 15% against the previous year. Overall, the import price enjoyed slight growth. The most prominent rate of growth was recorded in 2018 an increase of 77% against the previous year. Over the period under review, average import prices attained the peak figure at $1.7 per unit in 2019; however, from 2020 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 the United States ($1.1 per unit), while the price for China ($0.2 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+0.2%), while the prices for the other major suppliers experienced a decline.

Musical Instrument Strings Price in Thailand (FOB) - 2022

In 2022, the average musical instrument strings export price amounted to $0.6 per unit, dropping by -21.3% against the previous year. Overall, the export price, however, continues to indicate a noticeable increase. The most prominent rate of growth was recorded in 2016 when the average export price increased by 186%. As a result, the export price attained the peak level of $1.2 per unit. From 2017 to 2022, the average export prices remained at a 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 Japan ($3.4 per unit), while the average price for exports to Colombia ($0.2 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 Taiwan (Chinese) (+23.9%), while the prices for the other major destinations experienced more modest paces of growth.

Musical Instrument Strings Imports in Thailand

After three years of growth, supplies from abroad of musical instrument stringses decreased by -20.5% to 2M units in 2022. In general, imports, however, showed significant growth. The most prominent rate of growth was recorded in 2021 with an increase of 65% against the previous year. As a result, imports reached the peak of 2.6M units, and then reduced rapidly in the following year.

In value terms, musical instrument strings imports fell to $2.2M in 2022. Over the period under review, total imports indicated a perceptible expansion from 2019 to 2022: its value increased at an average annual rate of +4.4% 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 +40.0% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 53%. As a result, imports reached the peak of $2.4M, and then shrank in the following year.

Top Suppliers of Musical Instrument Strings to Thailand in 2022:

1. United States (1654.8K units)
2. China (301.7K units)
3. South Korea (18.7K units)
4. Mexico (5.1K units)

Musical Instrument Strings Exports in Thailand

In 2022, approx. 24K units of musical instrument stringses were exported from Thailand; dropping by -46.3% against the year before. Overall, exports faced a precipitous decline. The growth pace was the most rapid in 2021 with an increase of 65%. The exports peaked at 62K units in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, musical instrument strings exports fell significantly to $14K in 2022. Over the period under review, exports continue to indicate a precipitous slump. The most prominent rate of growth was recorded in 2021 when exports increased by 131%. Over the period under review, the exports hit record highs at $52K in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

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

1. United States (7.5K units)
2. French Polynesia (3.5K units)
3. United Kingdom (2.6K units)
4. Japan (1.8K units)
5. Cambodia (1.5K units)
6. Canada (1.4K units)
7. Colombia (1.3K units)
8. China (1.2K units)

Source: IndexBox Market Intelligence Platform