Musical Instrument Strings Price in the UK - 2023
Contents:
- Musical Instrument Strings Price in the UK (CIF) - 2022
- Musical Instrument Strings Price in the UK (FOB) - 2022
- Musical Instrument Strings Imports in the UK
- Musical Instrument Strings Exports in the UK
Musical Instrument Strings Price in the UK (CIF) - 2022
The average musical instrument strings import price stood at $2.2 per unit in 2022, growing by 43% against the previous year. In general, import price indicated a prominent increase from 2012 to 2022: its price increased at an average annual rate of +7.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, musical instrument strings import price increased by +51.6% against 2018 indices. The most prominent rate of growth was recorded in 2014 when the average import price increased by 53%. Over the period under review, average import prices reached the peak figure in 2022 and is likely to continue growth in the near future.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($8.9 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 Denmark (+17.9%), while the prices for the other major suppliers experienced more modest paces of growth.
Musical Instrument Strings Price in the UK (FOB) - 2022
The average musical instrument strings export price stood at $2.6 per unit in 2022, picking up by 14% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average export price increased by 16%. As a result, the export price reached the peak level of $4.2 per unit. From 2019 to 2022, the average export prices remained at a lower figure.
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 Italy ($5.9 per unit), while the average price for exports to Canada ($1.2 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 Sweden (+6.5%), while the prices for the other major destinations experienced more modest paces of growth.
Musical Instrument Strings Imports in the UK
In 2022, after three years of growth, there was significant decline in purchases abroad of musical instrument stringses, when their volume decreased by -64.7% to 4.5M units. Overall, imports recorded a dramatic curtailment. The most prominent rate of growth was recorded in 2021 when imports increased by 6.5%. As a result, imports attained the peak of 13M units, and then plummeted in the following year.
In value terms, musical instrument strings imports shrank rapidly to $9.9M in 2022. In general, imports faced a abrupt decrease. The growth pace was the most rapid in 2020 when imports increased by 12% against the previous year. Imports peaked at $20M in 2021, and then contracted notably in the following year.
| Import of Musical Instrument Strings in the UK (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 13.3 | 14.7 | 15.3 | 6.5 | -21.2% |
| Germany | 0.5 | 0.9 | 0.4 | 1.0 | 26.0% |
| Austria | 1.3 | 1.4 | 1.6 | 0.7 | -18.6% |
| Mexico | N/A | N/A | 0.4 | 0.6 | 50.0% |
| Denmark | N/A | N/A | N/A | 0.4 | 0% |
| China | 0.6 | 0.4 | 0.5 | 0.4 | -12.6% |
| South Korea | 0.1 | N/A | N/A | 0.1 | 0.0% |
| Others | 1.4 | 1.9 | 1.5 | 0.3 | -40.2% |
| Total | 17.2 | 19.3 | 19.6 | 9.9 | -16.8% |
Top Suppliers of Musical Instrument Strings to the UK in 2022:
- United States (2620.7K units)
- China (930.3K units)
- Mexico (258.6K units)
- Austria (126.4K units)
- South Korea (114.8K units)
- Germany (111.4K units)
- Denmark (100.2K units)
Musical Instrument Strings Exports in the UK
In 2022, overseas shipments of musical instrument stringses decreased by -53.6% to 3.2M units, falling for the second consecutive year after two years of growth. Overall, exports saw a abrupt decline. The most prominent rate of growth was recorded in 2020 with an increase of 34% against the previous year. As a result, the exports attained the peak of 7.3M units. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.
In value terms, musical instrument strings exports shrank significantly to $8.4M in 2022. In general, exports continue to indicate a sharp descent. The pace of growth appeared the most rapid in 2020 with an increase of 2.7%. As a result, the exports attained the peak of $20M. From 2021 to 2022, the growth of the exports failed to regain momentum.
| Export of Musical Instrument Strings in the UK (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| France | 2.6 | 2.3 | 8.7 | 2.3 | -4.0% |
| United States | 2.0 | 1.5 | 1.5 | 1.5 | -9.1% |
| Netherlands | 1.2 | 1.4 | 0.6 | 1.1 | -2.9% |
| Germany | 6.4 | 6.1 | 2.0 | 0.8 | -50.0% |
| Italy | 2.0 | 2.8 | 0.5 | 0.4 | -41.5% |
| Ireland | 0.8 | 0.7 | 0.2 | 0.2 | -37.0% |
| Japan | 0.3 | 0.2 | 0.3 | 0.2 | -12.6% |
| Canada | 0.1 | 0.1 | 0.1 | 0.1 | 0.0% |
| Latvia | N/A | N/A | N/A | 0.1 | 0% |
| Spain | 0.8 | 1.7 | 0.1 | 0.1 | -50.0% |
| Luxembourg | 0.7 | 1.0 | N/A | N/A | 42.9% |
| Poland | 0.4 | 0.3 | N/A | N/A | -25.0% |
| Others | 2.7 | 2.4 | 1.8 | 1.6 | -16.0% |
| Total | 19.9 | 20.5 | 15.8 | 8.4 | -25.0% |
Top Export Markets for Musical Instrument Strings from the UK in 2022:
- France (943.5K units)
- Germany (553.9K units)
- Netherlands (393.6K units)
- United States (302.6K units)
- Canada (115.6K units)
- Japan (88.4K units)
- Ireland (87.0K units)
- Italy (59.7K units)
- Latvia (50.4K units)
- Poland (21.9K units)
- Spain (18.8K units)
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