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

Contents:

1. Price for Non-Keyboard Electrical Musical Instruments in Vietnam (FOB) - 2022
2. Price for Non-Keyboard Electrical Musical Instruments in Vietnam (CIF) - 2022
3. Exports of Non-Keyboard Electrical Musical Instruments in Vietnam
4. Imports of Non-Keyboard Electrical Musical Instruments in Vietnam

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

The average non-keyboard electrical musical instruments export price stood at $513 per unit in 2022, with an increase of 11% against the previous year. In general, the export price saw a strong expansion. The pace of growth appeared the most rapid in 2017 when the average export price increased by 44%. The export price peaked at $624 per unit in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the rate of growth in terms of prices for the UK amounted to +7.6% per year.

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

In 2022, the average non-keyboard electrical musical instruments import price amounted to $384 per unit, waning by -2.1% against the previous year. Overall, import price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +4.9% 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 increased by +41.7% against 2016 indices. The most prominent rate of growth was recorded in 2018 an increase of 17%. Over the period under review, average import prices reached the peak figure at $392 per unit in 2021, and then shrank modestly in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Indonesia ($406 per unit) and the United States ($381 per unit), while the price for Mexico ($370 per unit) and Japan ($371 per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+9.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Exports of Non-Keyboard Electrical Musical Instruments in Vietnam

In 2022, shipments abroad of non-keyboard electrical musical instrumentses decreased by -11.3% to 11K units for the first time since 2018, thus ending a three-year rising trend. Overall, exports, however, posted significant growth. The most prominent rate of growth was recorded in 2020 when exports increased by 67%. The exports peaked at 12K units in 2021, and then contracted in the following year.

In value terms, non-keyboard electrical musical instruments exports contracted slightly to $5.4M in 2022. Over the period under review, total exports indicated buoyant growth from 2019 to 2022: its value increased at an average annual rate of +16.3% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +57.3% against 2019 indices. The pace of growth was the most pronounced in 2020 with an increase of 54% against the previous year. Over the period under review, the exports hit record highs at $5.5M in 2021, and then fell in the following year.

Top Export Markets for Non-Keyboard Electrical Musical Instruments from Vietnam in 2022:

1. United Arab Emirates (10.6K units)

Imports of Non-Keyboard Electrical Musical Instruments in Vietnam

In 2022, supplies from abroad of non-keyboard electrical musical instrumentses was finally on the rise to reach 2.2K units for the first time since 2019, thus ending a two-year declining trend. Overall, imports, however, faced a precipitous setback. Imports peaked at 4.6K units in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, non-keyboard electrical musical instruments imports reached $840K in 2022. In general, imports, however, faced a drastic downturn. Over the period under review, imports hit record highs at $1.6M in 2019; however, from 2020 to 2022, imports failed to regain momentum.

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

1. China (807.0 units)
2. Indonesia (651.0 units)
3. Mexico (379.0 units)
4. United States (198.0 units)
5. Japan (146.0 units)

Source: IndexBox Market Intelligence Platform