Price for Non-Keyboard Electrical Musical Instruments in Singapore - 2022

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

In September 2022, the average non-keyboard electrical musical instruments import price amounted to $369 per unit, flattening at the previous month. Overall, the import price posted a strong expansion. The growth pace was the most rapid in July 2022 when the average import price increased by 114% month-to-month. Over the period under review, average import prices reached the peak figure at $377 per unit in May 2022; however, from June 2022 to September 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was Mexico ($793 per unit), while the price for China ($181 per unit) was amongst the lowest.

From September 2021 to September 2022, the most notable rate of growth in terms of prices was attained by Japan (+17.2%), while the prices for the other major suppliers experienced more modest paces of growth.

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

The average non-keyboard electrical musical instruments export price stood at $500 per unit in 2022, surging by 11% against the previous year. Over the period under review, the export price saw a buoyant increase. The most prominent rate of growth was recorded in 2020 an increase of 275% against the previous year. The export price peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($1,113 per unit), while the average price for exports to Bangladesh ($58 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 Indonesia (+20.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Non-Keyboard Electrical Musical Instruments in Singapore

Non-keyboard electrical musical instruments imports into Singapore fell to 99K units in 2022, which is down by -8.5% on the year before. Over the period under review, imports continue to indicate a abrupt descent. The pace of growth was the most pronounced in 2021 with an increase of 14%. Over the period under review, imports hit record highs at 134K units in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, non-keyboard electrical musical instruments imports surged to $19M in 2022. The total import value increased at an average annual rate of +5.0% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of 29% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in years to come.

Import of Non-Keyboard Electrical Musical Instruments in Singapore (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Japan	7.3	4.8	5.9	6.7	-2.8%
Indonesia	1.6	1.5	2.3	3.4	28.6%
China	3.7	2.8	3.6	3.1	-5.7%
United States	2.5	2.3	3.0	2.9	5.1%
Mexico	N/A	N/A	0.2	1.5	650.0%
Malaysia	0.8	0.6	0.6	0.8	0.0%
Vietnam	N/A	N/A	0.1	0.3	200.0%
Others	0.8	0.6	0.5	0.8	0.0%
Total	16.7	12.6	16.3	19.4	5.1%

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

Japan (33.4K units)
China (26.3K units)
Indonesia (18.1K units)
United States (9.8K units)
Mexico (2.9K units)
Malaysia (2.5K units)
Vietnam (2.2K units)

Exports of Non-Keyboard Electrical Musical Instruments in Singapore

Non-keyboard electrical musical instruments exports from Singapore skyrocketed to 8.9K units in 2022, growing by 16% against 2021. Over the period under review, exports, however, faced a sharp decrease. Over the period under review, the exports reached the peak figure at 32K units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, non-keyboard electrical musical instruments exports soared to $4.4M in 2022. In general, total exports indicated resilient growth from 2019 to 2022: its value increased at an average annual rate of +16.8% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +88.9% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 47% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to continue growth in years to come.

Export of Non-Keyboard Electrical Musical Instruments in Singapore (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Indonesia	1,950	1,171	1,834	1,893	-1.0%
Germany	32.5	20.2	3.8	975	210.7%
China	32.2	199	270	539	155.8%
Malaysia	126	81.1	269	247	25.2%
Hong Kong SAR	271	264	352	223	-6.3%
Georgia	N/A	6.5	N/A	111	313.2%
United Arab Emirates	2.2	N/A	5.3	84.3	237.1%
Philippines	43.5	19.3	34.5	67.1	15.5%
United States	46.1	169	371	67.0	13.3%
Thailand	1.9	11.0	23.8	33.2	159.5%
Brunei Darussalam	55.7	39.4	49.3	32.5	-16.4%
Bangladesh	5.5	5.4	4.3	13.8	35.9%
Others	211	361	224	146	-11.6%
Total	2,778	2,346	3,441	4,432	16.8%