Musical Instrument Strings Price in Germany - 2023

Musical Instrument Strings Price in Germany (FOB) - 2023

In August 2023, the average musical instrument strings export price amounted to $1.9 per unit, approximately reflecting the previous month. Over the period under review, the export price faced a deep contraction. The growth pace was the most rapid in February 2023 an increase of 63% month-to-month. The export price peaked at $15.4 per unit in November 2022; however, from December 2022 to August 2023, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In August 2023, the country with the highest price was Poland ($1.8 per unit), while the average price for exports to Finland ($551 per thousand units) was amongst the lowest.

From August 2022 to August 2023, the most notable rate of growth in terms of prices was recorded for supplies to Poland (-4.4%), while the prices for the other major destinations experienced a decline.

Musical Instrument Strings Price in Germany (CIF) - 2023

In August 2023, the average musical instrument strings import price amounted to $5.5 per unit, increasing by 68% against the previous month. In general, import price indicated a noticeable expansion from August 2022 to August 2023: its price increased at an average monthly rate of +3.1% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on August 2023 figures, musical instrument strings import price increased by +67.9% against July 2023 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by the country of origin: the country with the highest price was Denmark ($57.4 per unit), while the price for China ($1.0 per unit) was amongst the lowest.

From August 2022 to August 2023, the most notable rate of growth in terms of prices was attained by the Czech Republic (+11.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Musical Instrument Strings Exports in Germany

In 2022, exports of musical instrument stringses from Germany amounted to 4M units, with an increase of 5% compared with the previous year. Overall, exports, however, showed a mild curtailment. The most prominent rate of growth was recorded in 2021 when exports increased by 9.9%. Over the period under review, the exports reached the peak figure at 4.2M units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, musical instrument strings exports rose notably to $45M in 2022. The total export value increased at an average annual rate of +5.3% over the period from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Export of Musical Instrument Strings in Germany (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
France	3.1	3.3	4.4	7.1	31.8%
United States	6.0	4.9	6.2	4.6	-8.5%
Japan	4.0	2.8	3.0	3.1	-8.1%
Austria	1.7	1.7	1.8	2.8	18.1%
Poland	2.2	1.9	2.3	2.4	2.9%
Spain	1.4	1.5	1.8	2.3	18.0%
Italy	1.6	1.4	1.6	2.0	7.7%
United Kingdom	3.8	3.4	2.5	1.7	-23.5%
Switzerland	0.9	1.1	1.2	1.3	13.0%
Sweden	0.9	0.3	0.4	1.1	6.9%
Russia	1.0	0.9	1.1	1.0	0.0%
Denmark	0.1	0.2	0.2	0.8	100.0%
Belgium	0.2	0.3	0.3	0.8	58.7%
Others	11.6	11.0	12.6	14.0	6.5%
Total	38.5	34.7	39.4	45.0	5.3%

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

Poland (569.6K units)
France (463.7K units)
United Kingdom (293.0K units)
Spain (196.5K units)
United States (186.2K units)
Austria (184.9K units)
Switzerland (173.1K units)
Russia (151.9K units)
Italy (137.4K units)
Japan (133.7K units)
Belgium (107.7K units)
Denmark (107.1K units)
Sweden (104.8K units)

Musical Instrument Strings Imports in Germany

For the third year in a row, Germany recorded decline in supplies from abroad of musical instrument stringses, which decreased by -13.8% to 7.2M units in 2022. Overall, imports recorded a abrupt contraction. The smallest decline of -9.2% was in 2020. Over the period under review, imports attained the maximum at 12M units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, musical instrument strings imports dropped dramatically to $24M in 2022. In general, imports showed a noticeable curtailment. The pace of growth was the most pronounced in 2021 when imports increased by 2.7%. As a result, imports reached the peak of $28M, and then dropped significantly in the following year.

Import of Musical Instrument Strings in Germany (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United States	9.2	7.5	10.5	12.5	10.8%
Austria	3.5	3.9	4.4	3.8	2.8%
Denmark	1.5	2.0	2.6	2.5	18.6%
China	0.8	1.1	1.4	1.2	14.5%
Czech Republic	0.7	0.9	1.0	0.6	-5.0%
United Kingdom	5.6	6.0	0.6	0.6	-52.5%
Canada	N/A	N/A	N/A	0.3	0%
Poland	1.0	1.5	2.0	0.3	-33.1%
India	0.5	0.4	0.2	0.1	-41.5%
Lithuania	0.5	0.6	0.8	N/A	26.5%
Others	3.3	3.5	4.6	1.8	-18.3%
Total	26.8	27.4	28.1	23.7	-4.0%