Price for Keyboard Electrical Musical Instruments, Other than Accordions in Hong Kong SAR - 2023
Contents:
- Price for Keyboard Electrical Musical Instruments, Other than Accordions in Hong Kong SAR (CIF) - 2023
- Price for Keyboard Electrical Musical Instruments, Other than Accordions in Hong Kong SAR (FOB) - 2022
- Imports of Keyboard Electrical Musical Instruments, Other than Accordions in Hong Kong SAR
- Exports of Keyboard Electrical Musical Instruments, Other than Accordions in Hong Kong SAR
Price for Keyboard Electrical Musical Instruments, Other than Accordions in Hong Kong SAR (CIF) - 2023
The average import price for keyboard electrical musical instruments, other than accordionses stood at $119 per unit in November 2023, declining by -40.6% against the previous month. Overall, the import price continues to indicate a perceptible descent. The most prominent rate of growth was recorded in June 2023 when the average import price increased by 205% m-o-m. As a result, import price reached the peak level of $328 per unit. From July 2023 to November 2023, the average import prices remained at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In November 2023, the country with the highest price was Indonesia ($850 per unit), while the price for China ($87.7 per unit) was amongst the lowest.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by Germany (+6.1%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Keyboard Electrical Musical Instruments, Other than Accordions in Hong Kong SAR (FOB) - 2022
In 2022, the average export price for keyboard electrical musical instruments, other than accordionses amounted to $78 per unit, increasing by 7.8% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.4%. The growth pace was the most rapid in 2015 when the average export price increased by 13% against the previous year. Over the period under review, the average export prices reached the maximum in 2022 and is expected to retain growth in the immediate term.
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 the Netherlands ($114 per unit), while the average price for exports to India ($33 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 Saudi Arabia (+19.2%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Keyboard Electrical Musical Instruments, Other than Accordions in Hong Kong SAR
In 2022, purchases abroad of keyboard electrical musical instruments, other than accordionses decreased by -69.6% to 170K units for the first time since 2018, thus ending a three-year rising trend. Overall, imports recorded a mild reduction. The growth pace was the most rapid in 2021 with an increase of 217%. As a result, imports reached the peak of 560K units, and then shrank notably in the following year.
In value terms, imports of keyboard electrical musical instruments, other than accordionses contracted sharply to $22M in 2022. Over the period under review, imports, however, recorded a resilient expansion. The pace of growth was the most pronounced in 2021 when imports increased by 206% against the previous year. As a result, imports reached the peak of $48M, and then reduced rapidly in the following year.
| Import of Keyboard Electrical Musical Instruments, Other than Accordions in Hong Kong SAR (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 9.9 | 9.8 | 40.1 | 13.4 | 10.6% |
| Indonesia | 2.3 | 2.4 | 2.8 | 4.3 | 23.2% |
| Malaysia | 1.8 | 2.2 | 2.9 | 2.3 | 8.5% |
| United States | N/A | 0.1 | 0.4 | 0.9 | 200.0% |
| Others | 1.4 | 1.2 | 1.3 | 1.0 | -10.6% |
| Total | 15.4 | 15.5 | 47.5 | 21.9 | 12.5% |
Top Suppliers of Keyboard Electrical Musical Instruments, Other than Accordions to Hong Kong SAR in 2022:
- China (151.1K units)
- Malaysia (8.7K units)
- Indonesia (5.2K units)
- United States (2.6K units)
Exports of Keyboard Electrical Musical Instruments, Other than Accordions in Hong Kong SAR
In 2022, approx. 171K units of keyboard electrical musical instruments, other than accordionses were exported from Hong Kong SAR; with a decrease of -68.1% compared with 2021. Overall, exports showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 255%. As a result, the exports reached the peak of 538K units, and then reduced remarkably in the following year.
In value terms, exports of keyboard electrical musical instruments, other than accordionses dropped dramatically to $13M in 2022. In general, exports, however, saw a prominent increase. The pace of growth appeared the most rapid in 2021 when exports increased by 255% against the previous year. As a result, the exports attained the peak of $39M, and then dropped remarkably in the following year.
| Export of Keyboard Electrical Musical Instruments, Other than Accordions in Hong Kong SAR (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 2.8 | 4.1 | 18.7 | 6.1 | 29.6% |
| Germany | 0.7 | 0.7 | 6.8 | 1.4 | 26.0% |
| India | 0.5 | 1.1 | 0.8 | 1.2 | 33.9% |
| Russia | N/A | N/A | 0.5 | 0.8 | 60.0% |
| China | 0.9 | 1.4 | 0.8 | 0.6 | -12.6% |
| Saudi Arabia | 0.1 | 0.4 | 0.1 | 0.2 | 26.0% |
| Japan | 1.0 | 0.1 | 0.3 | 0.2 | -41.5% |
| Singapore | N/A | 0.3 | 0.8 | 0.1 | -42.3% |
| Belgium | 1.1 | N/A | 0.5 | N/A | -32.6% |
| Malaysia | 0.7 | 0.4 | 1.0 | N/A | 19.5% |
| Mexico | N/A | N/A | 1.5 | N/A | 0% |
| Taiwan (Chinese) | N/A | 0.1 | 0.7 | N/A | 600.0% |
| Brazil | 0.3 | N/A | 0.8 | N/A | 63.3% |
| Others | 3.0 | 2.4 | 5.3 | 2.5 | -5.9% |
| Total | 11.1 | 10.9 | 38.7 | 13.3 | 6.2% |
Top Export Markets for Keyboard Electrical Musical Instruments, Other than Accordions from Hong Kong SAR in 2022:
- United States (68.3K units)
- India (36.6K units)
- Germany (14.9K units)
- China (9.5K units)
- Russia (8.3K units)
- Japan (5.7K units)
- Saudi Arabia (3.1K units)
- Singapore (1.6K units)
- Taiwan (Chinese) (1.4K units)
- Mexico (0.4K units)
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This report provides an in-depth analysis of the electrical musical instrument market in Hong Kong SAR, China.
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This report provides an in-depth analysis of the global electrical musical instrument market.
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This report provides an in-depth analysis of the electrical musical instrument market in Hong Kong SAR, China.
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This report provides an in-depth analysis of the global electrical musical instrument market.
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Discover the top import markets for electrical musical instruments in 2023. Learn about the key countries driving the global trade of musical instruments.
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Discover the top import markets for electrical musical instruments in 2023. Learn about the key countries driving the global trade of musical instruments.
