Musical Instrument Strings Price in Ghana - 2022

Contents:

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

Musical Instrument Strings Price in Ghana (CIF) - 2022

In 2022, the average musical instrument strings import price amounted to $0.3 per unit, which is down by -13.4% against the previous year. Over the period under review, import price indicated a moderate increase from 2012 to 2022: its price increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when the average import price increased by 50% against the previous year. As a result, import price attained the peak level of $0.4 per unit. From 2014 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($2.4 per unit), while the price for Sweden (less than $0.1 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+16.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Musical Instrument Strings Price in Ghana (FOB) - 2022

The average musical instrument strings export price stood at $2 per unit in 2022, rising by 55% against the previous year. In general, export price indicated pronounced growth 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. The pace of growth was the most pronounced in 2018 when the average export price increased by 78% against the previous year. As a result, the export price attained the peak level of $2.6 per unit. From 2019 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Tanzania ($2.2 per unit), while the average price for exports to Canada amounted to $0.7 per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Tanzania (+18.7%), while the prices for the other major destinations experienced mixed trend patterns.

Musical Instrument Strings Imports in Ghana

Musical instrument strings imports into Ghana reduced notably to 19K units in 2022, which is down by -25.4% against 2021 figures. Overall, imports recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2021 when imports increased by 270%. As a result, imports attained the peak of 25K units, and then reduced notably in the following year.

In value terms, musical instrument strings imports fell rapidly to $6.5K in 2022. Over the period under review, imports saw a abrupt descent. The pace of growth was the most pronounced in 2021 with an increase of 311%. As a result, imports attained the peak of $10K, and then plummeted in the following year.

Top Suppliers of Musical Instrument Strings to Ghana in 2022:

1. United States (7.7K units)
2. Belgium (3.1K units)
3. United Kingdom (1.4K units)
4. China (1.2K units)
5. Nigeria (1.2K units)
6. Netherlands (1.1K units)
7. Cameroon (0.8K units)
8. United Arab Emirates (0.7K units)
9. Japan (0.4K units)

Musical Instrument Strings Exports in Ghana

In 2022, approx. 135 units of musical instrument stringses were exported from Ghana; with an increase of 8.9% against 2021 figures. In general, exports recorded a significant expansion. The growth pace was the most rapid in 2021 with an increase of 377%. The exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, musical instrument strings exports surged to $275 in 2022. Overall, exports enjoyed a significant increase. The growth pace was the most rapid in 2021 when exports increased by 226%. The exports peaked in 2022 and are expected to retain growth in years to come.

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

1. Tanzania (119.0 units)
2. Canada (16.0 units)

Source: IndexBox Market Intelligence Platform