Musical Instrument Strings Price in Canada - 2023
Contents:
- Musical Instrument Strings Price in Canada (CIF) - 2022
- Musical Instrument Strings Price in Canada (FOB) - 2022
- Musical Instrument Strings Imports in Canada
- Musical Instrument Strings Exports in Canada
Musical Instrument Strings Price in Canada (CIF) - 2022
In 2022, the average musical instrument strings import price amounted to $2.5 per unit, declining by -11.4% against the previous year. Over the period under review, import price indicated a pronounced increase from 2012 to 2022: its price increased at an average annual rate of +3.2% 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 +36.8% against 2013 indices. The most prominent rate of growth was recorded in 2021 an increase of 23%. As a result, import price reached the peak level of $2.8 per unit, and then dropped 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 Mexico ($2.5 per unit) and the United States ($2.5 per unit), while the price for Germany ($2.5 per unit) and Austria ($2.5 per unit) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Denmark (+3.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Musical Instrument Strings Price in Canada (FOB) - 2022
The average musical instrument strings export price stood at $5.2 per unit in 2022, growing by 63% against the previous year. In general, export price indicated a tangible increase from 2012 to 2022: its price increased at an average annual rate of +4.3% 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 export price increased by +86.2% against 2020 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Italy ($13 per unit), while the average price for exports to the Netherlands ($4.6 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 Peru (+73.3%), while the prices for the other major destinations experienced more modest paces of growth.
Musical Instrument Strings Imports in Canada
In 2022, overseas purchases of musical instrument stringses were finally on the rise to reach 4.3M units after two years of decline. Over the period under review, imports, however, continue to indicate a mild contraction. Over the period under review, imports hit record highs at 4.5M units in 2019; however, from 2020 to 2022, imports failed to regain momentum.
In value terms, musical instrument strings imports amounted to $11M in 2022. The total import value increased at an average annual rate of +3.7% over the period from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2021 when imports increased by 12% against the previous year. Imports peaked in 2022 and are likely to continue growth in years to come.
| Import of Musical Instrument Strings in Canada (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 7.4 | 7.6 | 8.3 | 8.1 | 3.1% |
| Austria | 0.5 | 0.4 | 0.6 | 0.7 | 11.9% |
| Mexico | 0.4 | 0.4 | 0.5 | 0.5 | 7.7% |
| Germany | 0.5 | 0.3 | 0.4 | 0.4 | -7.2% |
| Denmark | 0.1 | 0.1 | 0.1 | 0.2 | 26.0% |
| China | 0.1 | 0.1 | 0.2 | 0.2 | 26.0% |
| Others | 0.3 | 0.3 | 0.4 | 0.4 | 10.1% |
| Total | 9.4 | 9.3 | 10.4 | 10.5 | 3.8% |
Top Suppliers of Musical Instrument Strings to Canada in 2022:
- United States (3282.6K units)
- Austria (300.4K units)
- Mexico (200.3K units)
- Germany (170.5K units)
- Denmark (69.1K units)
- China (63.9K units)
Musical Instrument Strings Exports in Canada
In 2022, the amount of musical instrument stringses exported from Canada soared to 85K units, increasing by 97% against 2021. In general, exports posted significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
In value terms, musical instrument strings exports skyrocketed to $439K in 2022. Overall, exports posted significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
| Export of Musical Instrument Strings in Canada (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 4.6 | 0.2 | 8.7 | 212 | 258.5% |
| United States | 8.4 | 17.6 | 32.9 | 76.6 | 108.9% |
| Netherlands | 4.2 | 18.6 | 24.0 | 46.6 | 123.0% |
| Peru | 0.4 | N/A | N/A | 32.6 | 333.6% |
| Japan | 16.2 | 16.1 | 19.3 | 28.4 | 20.6% |
| United Kingdom | 8.3 | 2.9 | 11.4 | 9.7 | 5.3% |
| Australia | 2.6 | 1.2 | 4.5 | 6.7 | 37.1% |
| Czech Republic | 4.2 | 0.7 | 2.8 | 0.6 | -47.7% |
| Ecuador | 2.2 | N/A | 3.7 | N/A | 29.7% |
| Myanmar | N/A | 1.5 | 0.1 | N/A | -93.3% |
| Others | 20.5 | 35.0 | 29.4 | 25.1 | 7.0% |
| Total | 71.6 | 93.8 | 137 | 439 | 83.0% |
Top Export Markets for Musical Instrument Strings from Canada in 2022:
- China (41.9K units)
- United States (16.3K units)
- Netherlands (10.0K units)
- Japan (6.0K units)
- Peru (2.5K units)
- United Kingdom (2.1K units)
- Australia (1.4K units)
- Czech Republic (0.2K units)
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