Musical Instrument Strings Price in Ukraine - 2023

Musical Instrument Strings Price in Ukraine (CIF) - 2022

In 2022, the average musical instrument strings import price amounted to $1.6 per unit, declining by -14.5% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.3%. The growth pace was the most rapid in 2021 an increase of 32% against the previous year. As a result, import price reached the peak level of $1.8 per unit, and then fell in the following year.

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 the United States ($2.6 per unit), while the price for China ($0.6 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 (+10.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Musical Instrument Strings Price in Ukraine (FOB) - 2022

In 2022, the average musical instrument strings export price amounted to $0.3 per unit, increasing by 17% against the previous year. Over the period under review, the export price, however, continues to indicate a abrupt descent. The pace of growth appeared the most rapid in 2019 an increase of 763% against the previous year. As a result, the export price reached the peak level of $1.5 per unit. From 2020 to 2022, the average export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Moldova.

From 2012 to 2022, the rate of growth in terms of prices for Moldova amounted to -0.1% per year.

Musical Instrument Strings Imports in Ukraine

In 2022, overseas purchases of musical instrument stringses decreased by -44% to 191K units for the first time since 2018, thus ending a three-year rising trend. Over the period under review, imports saw a abrupt decline. The pace of growth was the most pronounced in 2020 when imports increased by 15% against the previous year. Over the period under review, imports reached the maximum at 340K units in 2021, and then fell notably in the following year.

In value terms, musical instrument strings imports dropped markedly to $299K in 2022. Overall, imports saw a deep downturn. The most prominent rate of growth was recorded in 2021 when imports increased by 41% against the previous year. As a result, imports reached the peak of $623K, and then dropped significantly in the following year.

Import of Musical Instrument Strings in Ukraine (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United States	319	332	438	225	-11.0%
China	34.7	42.4	41.3	45.0	9.1%
South Korea	10.8	15.6	11.8	15.3	12.3%
Mexico	24.3	17.5	12.5	N/A	-28.3%
Others	77.8	35.5	119	13.4	-44.4%
Total	467	443	623	299	-13.8%

Top Suppliers of Musical Instrument Strings to Ukraine in 2022:

United States (88.0K units)
China (77.7K units)
South Korea (20.2K units)

Musical Instrument Strings Exports in Ukraine

After three years of growth, shipments abroad of musical instrument stringses decreased by -60.8% to 1.2K units in 2022. In general, exports, however, showed a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 700%. Over the period under review, the exports reached the peak figure at 3K units in 2021, and then shrank remarkably in the following year.

In value terms, musical instrument strings exports dropped notably to $402 in 2022. Over the period under review, exports, however, recorded a significant expansion. The pace of growth appeared the most rapid in 2021 with an increase of 195%. As a result, the exports reached the peak of $875, and then declined remarkably in the following year.