Musical Instrument Strings Price in Chile - 2023

Musical Instrument Strings Price in Chile (CIF) - 2022

The average musical instrument strings import price stood at $0.5 per unit in 2022, waning by -43.8% against the previous year. Overall, the import price showed a abrupt setback. The most prominent rate of growth was recorded in 2018 when the average import price increased by 68% against the previous year. As a result, import price reached the peak level of $2.1 per unit. From 2019 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 Argentina ($0.9 per unit), while the price for China ($0.2 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (-5.1%), while the prices for the other major suppliers experienced a decline.

Musical Instrument Strings Price in Chile (FOB) - 2022

In 2022, the average musical instrument strings export price amounted to $13 per unit, dropping by -26.3% against the previous year. Overall, the export price, however, recorded a resilient increase. The most prominent rate of growth was recorded in 2019 when the average export price increased by 52%. The export price peaked at $21 per unit in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Paraguay ($13 per unit), while the average price for exports to Peru ($13 per unit) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Paraguay (+6.9%), while the prices for the other major destinations experienced more modest paces of growth.

Musical Instrument Strings Imports in Chile

In 2022, approx. 3.1M units of musical instrument stringses were imported into Chile; increasing by 44% compared with the year before. In general, imports showed significant growth. The pace of growth was the most pronounced in 2021 when imports increased by 150%. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, musical instrument strings imports fell significantly to $1.7M in 2022. Overall, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 96%. As a result, imports reached the peak of $2.1M, and then reduced markedly in the following year.

Import of Musical Instrument Strings in Chile (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United States	1,046	667	1,286	1,128	2.5%
China	163	132	229	179	3.2%
Argentina	98.9	60.5	137	101	0.7%
Others	338	190	411	265	-7.8%
Total	1,647	1,049	2,062	1,672	0.5%

Top Suppliers of Musical Instrument Strings to Chile in 2022:

United States (1998.8K units)
China (822.4K units)
Argentina (115.5K units)

Musical Instrument Strings Exports in Chile

In 2022, after two years of decline, there was significant growth in shipments abroad of musical instrument stringses, when their volume increased by 94% to 2.9K units. Over the period under review, exports, however, continue to indicate a sharp setback. Over the period under review, the exports hit record highs at 16K units in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, musical instrument strings exports skyrocketed to $39K in 2022. Overall, exports, however, continue to indicate a dramatic descent. The exports peaked at $256K in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Export of Musical Instrument Strings in Chile (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Bolivia	230	15.3	11.3	18.0	-57.2%
Paraguay	13.7	12.2	13.8	15.3	3.8%
Peru	7.1	16.5	2.0	5.5	-8.2%
Others	4.7	N/A	N/A	N/A	0%
Total	256	44.0	27.1	38.8	-46.7%