Musical Instrument Strings Price in Indonesia - 2022
Contents:
- Musical Instrument Strings Price in Indonesia (CIF) - 2022
- Musical Instrument Strings Price in Indonesia (FOB) - 2022
- Musical Instrument Strings Imports in Indonesia
- Musical Instrument Strings Exports in Indonesia
Musical Instrument Strings Price in Indonesia (CIF) - 2022
In March 2022, the average musical instrument strings import price amounted to $682 per thousand units, reducing by -41.8% against the previous month. Over the period under review, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in February 2022 an increase of 197% month-to-month. As a result, import price attained the peak level of $1.2 per unit, and then dropped rapidly in the following month.
Prices varied noticeably by the country of origin: the country with the highest price was the United States ($958 per thousand units), while the price for Japan ($167 per thousand units) was amongst the lowest.
From March 2021 to March 2022, the most notable rate of growth in terms of prices was attained by China (+4.6%), while the prices for the other major suppliers experienced mixed trend patterns.
Musical Instrument Strings Price in Indonesia (FOB) - 2022
The average musical instrument strings export price stood at $2.1 per unit in 2022, increasing by 5.5% against the previous year. Over the period under review, the export price, however, showed a slight downturn. The pace of growth was the most pronounced in 2019 an increase of 20% against the previous year. The export price peaked at $2.4 per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.
There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Hong Kong SAR ($8 per unit), while the average price for exports to Belarus ($0.2 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 Hong Kong SAR (+26.1%), while the prices for the other major destinations experienced more modest paces of growth.
Musical Instrument Strings Imports in Indonesia
In 2022, after three years of growth, there was significant decline in overseas purchases of musical instrument stringses, when their volume decreased by -9.9% to 15M units. Overall, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when imports increased by 11% against the previous year. Over the period under review, imports attained the peak figure at 17M units in 2021, and then contracted in the following year.
In value terms, musical instrument strings imports rose markedly to $8.2M in 2022. The total import value increased at an average annual rate of +10.4% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 14% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in years to come.
| Import of Musical Instrument Strings in Indonesia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 3.4 | 2.6 | 3.8 | 4.3 | 8.1% |
| China | 1.9 | 2.4 | 1.9 | 2.0 | 1.7% |
| South Korea | 0.1 | 0.7 | 1.0 | 1.5 | 146.6% |
| Japan | 0.3 | 0.3 | 0.3 | 0.3 | 0.0% |
| Germany | 0.1 | N/A | N/A | 0.1 | 0.0% |
| Others | 0.3 | 0.3 | 0.2 | 0.2 | -12.6% |
| Total | 6.1 | 6.3 | 7.2 | 8.2 | 10.4% |
Top Suppliers of Musical Instrument Strings to Indonesia in 2022:
- China (5.3M units)
- United States (5.2M units)
- South Korea (2.2M units)
- Japan (1.6M units)
- Germany (0.4M units)
Musical Instrument Strings Exports in Indonesia
In 2022, the amount of musical instrument stringses exported from Indonesia shrank sharply to 169K units, which is down by -31.7% compared with the year before. In general, exports continue to indicate a deep setback. The most prominent rate of growth was recorded in 2021 with an increase of 32%. As a result, the exports attained the peak of 248K units, and then shrank remarkably in the following year.
In value terms, musical instrument strings exports fell significantly to $351K in 2022. Over the period under review, exports saw a abrupt shrinkage. The pace of growth was the most pronounced in 2021 with an increase of 34%. As a result, the exports attained the peak of $486K, and then shrank significantly in the following year.
| Export of Musical Instrument Strings in Indonesia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 299 | 285 | 383 | 282 | -1.9% |
| Guatemala | N/A | N/A | N/A | 14.6 | 0% |
| Australia | 4.4 | 5.5 | 6.1 | 4.9 | 3.7% |
| Japan | 19.0 | 21.6 | 22.1 | 4.9 | -36.3% |
| South Korea | 26.4 | 5.3 | 13.4 | 4.9 | -43.0% |
| Norway | 0.4 | 0.7 | 1.3 | 4.7 | 127.3% |
| Singapore | 67.0 | 6.7 | 5.8 | 4.4 | -59.7% |
| New Caledonia | 2.8 | 3.8 | 4.5 | 3.9 | 11.7% |
| Belarus | 0.8 | 0.9 | 0.9 | 0.6 | -9.1% |
| Others | 28.9 | 33.7 | 48.9 | 25.9 | -3.6% |
| Total | 449 | 363 | 486 | 351 | -7.9% |
Top Export Markets for Musical Instrument Strings from Indonesia in 2022:
- China (93.5K units)
- Australia (19.8K units)
- Guatemala (13.7K units)
- New Caledonia (9.2K units)
- Norway (3.7K units)
- Japan (3.4K units)
- Belarus (3.2K units)
- South Korea (2.6K units)
- Singapore (0.8K units)
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