Price for Non-Keyboard Electrical Musical Instruments in Canada - 2023

Price for Non-Keyboard Electrical Musical Instruments in Canada (CIF) - 2023

The average non-keyboard electrical musical instruments import price stood at $268 per unit in September 2023, shrinking by -31.4% against the previous month. In general, the import price showed a slight shrinkage. The most prominent rate of growth was recorded in March 2023 an increase of 27% month-to-month. The import price peaked at $440 per unit in January 2023; however, from February 2023 to September 2023, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In September 2023, the country with the highest price was the United States ($1,007 per unit), while the price for China ($103 per unit) was amongst the lowest.

From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by Mexico (+0.1%), while the prices for the other major suppliers experienced a decline.

Price for Non-Keyboard Electrical Musical Instruments in Canada (FOB) - 2023

The average non-keyboard electrical musical instruments export price stood at $604 per unit in September 2023, remaining relatively unchanged against the previous month. Overall, the export price, however, recorded a abrupt decrease. The pace of growth appeared the most rapid in March 2023 when the average export price increased by 73% m-o-m. Over the period under review, the average export prices hit record highs at $1,260 per unit in December 2022; however, from January 2023 to September 2023, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In September 2023, the country with the highest price was the Netherlands ($1,022 per unit), while the average price for exports to the United States ($483 per unit) was amongst the lowest.

From September 2022 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to Switzerland (+1.3%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Non-Keyboard Electrical Musical Instruments in Canada

Non-keyboard electrical musical instruments imports into Canada stood at 238K units in 2022, with an increase of 14% against the previous year's figure. In general, total imports indicated buoyant growth from 2019 to 2022: its volume increased at an average annual rate of +15.6% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +54.3% against 2019 indices. The growth pace was the most rapid in 2021 when imports increased by 32% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are likely to see steady growth in the near future.

In value terms, non-keyboard electrical musical instruments imports surged to $81M in 2022. Over the period under review, imports showed a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Import of Non-Keyboard Electrical Musical Instruments in Canada (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United States	16.9	15.6	18.1	24.7	13.5%
China	9.2	10.4	15.0	18.5	26.2%
Indonesia	8.1	9.1	12.1	18.0	30.5%
Mexico	5.0	4.5	7.1	9.8	25.1%
Malaysia	2.0	2.2	2.2	3.4	19.3%
Japan	1.6	1.3	1.6	3.0	23.3%
Others	2.7	2.3	3.6	3.7	11.1%
Total	45.4	45.4	59.8	81.1	21.3%

Top Suppliers of Non-Keyboard Electrical Musical Instruments to Canada in 2022:

China (95.5K units)
Indonesia (71.7K units)
United States (32.3K units)
Mexico (15.5K units)
Malaysia (6.0K units)
Japan (5.7K units)

Exports of Non-Keyboard Electrical Musical Instruments in Canada

In 2022, non-keyboard electrical musical instruments exports from Canada was estimated at 13K units, with an increase of 6% against 2021. Over the period under review, exports, however, saw a perceptible curtailment. The growth pace was the most rapid in 2021 when exports increased by 9.2% against the previous year. The exports peaked at 14K units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, non-keyboard electrical musical instruments exports reduced to $9.3M in 2022. Overall, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 22% against the previous year. As a result, the exports reached the peak of $10M, and then declined in the following year.

Export of Non-Keyboard Electrical Musical Instruments in Canada (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United States	3,414	3,529	5,060	4,930	13.0%
Netherlands	218	794	1,162	892	59.9%
Germany	621	663	629	771	7.5%
United Kingdom	765	678	626	433	-17.3%
Japan	790	575	455	351	-23.7%
Hong Kong SAR	359	89.9	104	289	-7.0%
France	491	286	447	202	-25.6%
Spain	149	69.1	294	161	2.6%
Italy	245	86.3	86.6	147	-15.7%
Chile	449	66.2	79.8	99.9	-39.4%
Others	1,990	1,403	1,140	1,064	-18.8%
Total	9,492	8,239	10,084	9,339	-0.5%