Musical Instrument Strings Price in Bulgaria - 2023

Contents:

1. Musical Instrument Strings Price in Bulgaria (FOB) - 2022
2. Musical Instrument Strings Price in Bulgaria (CIF) - 2022
3. Musical Instrument Strings Exports in Bulgaria
4. Musical Instrument Strings Imports in Bulgaria

Musical Instrument Strings Price in Bulgaria (FOB) - 2022

In 2022, the average musical instrument strings export price amounted to $2.1 per unit, rising by 2.2% against the previous year. Over the last decade, it increased at an average annual rate of +1.8%. The most prominent rate of growth was recorded in 2017 an increase of 24%. The export price peaked at $2.3 per unit in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($4.2 per unit), while the average price for exports to France ($1.6 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 Latvia (+45.0%), while the prices for the other major destinations experienced mixed trend patterns.

Musical Instrument Strings Price in Bulgaria (CIF) - 2022

The average musical instrument strings import price stood at $2 per unit in 2022, reducing by -20.2% against the previous year. Over the period under review, import price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, musical instrument strings import price increased by +45.1% against 2019 indices. The pace of growth was the most pronounced in 2021 when the average import price increased by 59%. As a result, import price attained the peak level of $2.5 per unit, and then contracted notably in the following year.

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 Spain ($3.5 per unit), while the price for Belgium ($0.8 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+6.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Musical Instrument Strings Exports in Bulgaria

Musical instrument strings exports from Bulgaria surged to 368K units in 2022, jumping by 30% on the previous year's figure. Overall, exports recorded a significant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 59%. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, musical instrument strings exports soared to $774K in 2022. In general, exports enjoyed significant growth. The pace of growth was the most pronounced in 2021 when exports increased by 73%. The exports peaked in 2022 and are likely to see steady growth in the immediate term.

Top Export Markets for Musical Instrument Strings from Bulgaria in 2022:

1. France (231.7K units)
2. Germany (74.0K units)
3. United States (31.9K units)
4. Latvia (13.1K units)

Musical Instrument Strings Imports in Bulgaria

In 2022, approx. 173K units of musical instrument stringses were imported into Bulgaria; with a decrease of -11.1% on the previous year. Over the period under review, imports, however, recorded buoyant growth. The growth pace was the most rapid in 2021 when imports increased by 211%. As a result, imports reached the peak of 194K units, and then contracted in the following year.

In value terms, musical instrument strings imports reduced sharply to $351K in 2022. Overall, imports, however, showed significant growth. The pace of growth was the most pronounced in 2021 with an increase of 395% against the previous year. As a result, imports attained the peak of $494K, and then dropped dramatically in the following year.

Top Suppliers of Musical Instrument Strings to Bulgaria in 2022:

1. United States (100.3K units)
2. Austria (26.0K units)
3. Germany (11.2K units)
4. Poland (8.2K units)
5. Belgium (5.7K units)
6. Spain (5.7K units)
7. Netherlands (5.3K units)

Source: IndexBox Market Intelligence Platform