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

Price for Non-Keyboard Electrical Musical Instruments in India (CIF) - 2022

In 2022, the average non-keyboard electrical musical instruments import price amounted to $59 per unit, with an increase of 11% against the previous year. Overall, import price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, non-keyboard electrical musical instruments import price decreased by -18.7% against 2019 indices. The most prominent rate of growth was recorded in 2019 an increase of 68%. As a result, import price reached the peak level of $72 per unit. From 2020 to 2022, the average import prices remained at a somewhat lower figure.

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 Malaysia ($137 per unit), while the price for China ($39 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+8.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Non-Keyboard Electrical Musical Instruments in India (FOB) - 2022

In 2022, the average non-keyboard electrical musical instruments export price amounted to $51 per unit, growing by 45% against the previous year. In general, the export price, however, continues to indicate a noticeable downturn. The pace of growth appeared the most rapid in 2018 when the average export price increased by 114% against the previous year. The export price peaked at $84 per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat 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 the UK ($181 per unit), while the average price for exports to Nepal ($4.4 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 Germany (+11.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Non-Keyboard Electrical Musical Instruments in India

Non-keyboard electrical musical instruments imports into India rose to 156K units in 2022, increasing by 1.7% against the previous year's figure. Over the period under review, total imports indicated a strong expansion from 2019 to 2022: its volume increased at an average annual rate of +10.7% 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 +90.0% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 87%. Over the period under review, imports attained the peak figure in 2022 and are likely to see gradual growth in the immediate term.

In value terms, non-keyboard electrical musical instruments imports expanded significantly to $9.2M in 2022. In general, total imports indicated a measured increase from 2019 to 2022: its value increased at an average annual rate of +3.3% 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 +76.3% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by 57%. Imports peaked in 2022 and are expected to retain growth in the near future.

Import of Non-Keyboard Electrical Musical Instruments in India (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Malaysia	2.6	1.7	2.2	3.2	7.2%
Indonesia	1.7	1.1	2.2	2.3	10.6%
China	2.6	1.3	2.6	2.3	-4.0%
Netherlands	0.7	0.7	0.5	0.6	-5.0%
United States	0.1	0.1	0.2	0.4	58.7%
Others	0.6	0.3	0.3	0.4	-12.6%
Total	8.3	5.2	8.1	9.2	3.5%

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

China (59.2K units)
Indonesia (58.1K units)
Malaysia (23.1K units)
Netherlands (8.5K units)
United States (4.6K units)

Exports of Non-Keyboard Electrical Musical Instruments in India

Non-keyboard electrical musical instruments exports from India dropped notably to 34K units in 2022, falling by -20% on the previous year's figure. Overall, exports saw a significant decline. The most prominent rate of growth was recorded in 2021 when exports increased by 14%. Over the period under review, the exports attained the peak figure at 115K units in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, non-keyboard electrical musical instruments exports soared to $1.7M in 2022. Over the period under review, exports continue to indicate a sharp shrinkage. The pace of growth appeared the most rapid in 2021 with an increase of 73% against the previous year. The exports peaked at $4.8M in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Export of Non-Keyboard Electrical Musical Instruments in India (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United States	3,015	472	906	1,095	-28.7%
United Kingdom	164	83.0	41.2	185	4.1%
Australia	413	53.6	10.5	56.3	-48.5%
Nepal	31.6	37.3	53.2	49.4	16.1%
Canada	20.6	9.5	24.2	35.0	19.3%
Germany	30.3	72.7	97.3	31.9	1.7%
Bhutan	0.6	2.3	17.9	29.0	264.3%
Bangladesh	0.2	N/A	0.1	11.6	287.1%
Japan	55.4	16.6	10.9	6.5	-51.0%
Iraq	29.3	N/A	N/A	N/A	0%
Ireland	646	0.4	N/A	N/A	-99.9%
Saudi Arabia	166	N/A	N/A	N/A	0%
Others	239	100	309	202	-5.5%
Total	4,810	848	1,470	1,702	-29.3%