Musical Instrument Strings Price in the Czech Republic - 2023

Musical Instrument Strings Price in the Czech Republic (CIF) - 2023

The average musical instrument strings import price stood at $4.8 per unit in August 2023, growing by 10% against the previous month. In general, import price indicated a moderate increase from August 2022 to August 2023: its price increased at an average monthly rate of +4.9% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on August 2023 figures, musical instrument strings import price increased by +62.4% against June 2023 indices. The pace of growth was the most pronounced in July 2023 an increase of 47% against the previous month. Over the period under review, average import prices reached the maximum at $5.4 per unit in April 2023; however, from May 2023 to August 2023, import prices stood at a somewhat lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was Mexico ($8.2 per unit), while the price for China ($530 per thousand units) was amongst the lowest.

From August 2022 to August 2023, the most notable rate of growth in terms of prices was attained by Mexico (+3.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Musical Instrument Strings Price in the Czech Republic (FOB) - 2022

In 2022, the average musical instrument strings export price amounted to $2.4 per unit, flattening at the previous year. In general, the export price saw resilient growth. The growth pace was the most rapid in 2016 when the average export price increased by 76% against the previous year. The export price peaked in 2022 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Hungary ($5.7 per unit), while the average price for exports to Germany ($1.6 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 Hungary (+21.0%), while the prices for the other major destinations experienced more modest paces of growth.

Musical Instrument Strings Imports in the Czech Republic

In 2022, approx. 1.1M units of musical instrument stringses were imported into the Czech Republic; increasing by 45% compared with 2021 figures. Over the period under review, total imports indicated a prominent expansion from 2019 to 2022: its volume increased at an average annual rate of +6.6% 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 +60.6% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, musical instrument strings imports fell slightly to $2.6M in 2022. In general, imports, however, showed a perceptible descent. The pace of growth was the most pronounced in 2021 with an increase of 13% against the previous year. Over the period under review, imports hit record highs at $2.9M in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Import of Musical Instrument Strings in the Czech Republic (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United States	1,399	739	954	1,088	-8.0%
Austria	320	313	291	342	2.2%
China	96.4	226	189	306	47.0%
Germany	427	358	373	290	-12.1%
France	112	109	138	131	5.4%
Mexico	59.8	74.8	158	103	19.9%
Italy	55.0	98.5	184	69.8	8.3%
United Kingdom	169	132	42.3	45.0	-35.7%
Poland	96.0	87.9	92.2	17.6	-43.2%
South Korea	28.1	16.8	13.4	14.9	-19.1%
Others	177	152	180	182	0.9%
Total	2,939	2,308	2,616	2,590	-4.1%

Top Suppliers of Musical Instrument Strings to the Czech Republic in 2022:

United States (499.7K units)
China (309.3K units)
Germany (57.1K units)
Mexico (42.5K units)
France (37.1K units)
Austria (29.6K units)
Italy (25.6K units)
South Korea (13.6K units)
United Kingdom (7.9K units)
Poland (5.0K units)

Musical Instrument Strings Exports in the Czech Republic

In 2022, shipments abroad of musical instrument stringses decreased by -17.4% to 330K units, falling for the second year in a row after two years of growth. In general, exports faced a deep downturn. The most prominent rate of growth was recorded in 2020 with an increase of 2.1% against the previous year. As a result, the exports reached the peak of 496K units. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, musical instrument strings exports contracted notably to $806K in 2022. The total export value increased at an average annual rate of +2.1% from 2019 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The growth pace was the most rapid in 2021 when exports increased by 22%. As a result, the exports attained the peak of $975K, and then declined remarkably in the following year.

Export of Musical Instrument Strings in the Czech Republic (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Germany	298	378	429	372	7.7%
Slovakia	45.5	79.7	187	151	49.2%
Poland	58.9	70.3	80.4	68.4	5.1%
Hungary	14.7	26.4	38.7	59.9	59.7%
Austria	73.8	63.8	59.1	49.5	-12.5%
Italy	70.3	59.3	54.0	24.9	-29.2%
France	38.9	22.6	27.4	16.5	-24.9%
Spain	41.0	16.8	14.1	13.4	-31.1%
United Kingdom	91.6	33.9	1.6	N/A	-86.8%
Others	23.5	50.2	83.9	50.9	29.4%
Total	757	801	975	806	2.1%