Musical Instrument Strings Price in Kuwait - 2022

Musical Instrument Strings Price in Kuwait (CIF) - 2022

The average musical instrument strings import price stood at $2 per unit in 2022, surging by 6% against the previous year. Overall, the import price saw a strong increase. The pace of growth appeared the most rapid in 2015 when the average import price increased by 107% against the previous year. The import price peaked at $2 per unit in 2016; afterwards, it flattened through to 2022.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($3 per unit), while the price for Taiwan (Chinese) ($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 Turkey (+17.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Musical Instrument Strings Price in Kuwait (FOB) - 2022

In 2022, the average musical instrument strings export price amounted to $1.2 per unit, surging by 6.6% against the previous year. Over the period under review, the export price, however, continues to indicate a mild curtailment. The growth pace was the most rapid in 2018 an increase of 66%. Over the period under review, the average export prices attained the maximum at $2 per unit in 2019; however, from 2020 to 2022, the export prices stood at a somewhat 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 the United Arab Emirates ($2.7 per unit), while the average price for exports to Saudi Arabia amounted to $1.1 per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Saudi Arabia (+2.7%).

Musical Instrument Strings Imports in Kuwait

In 2022, musical instrument strings imports into Kuwait totaled 48K units, with an increase of 7.9% against the previous year. Overall, imports recorded a significant expansion. The pace of growth appeared the most rapid in 2020 with an increase of 331%. As a result, imports attained the peak of 69K units. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, musical instrument strings imports amounted to $94K in 2022. In general, imports saw a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 277% against the previous year. As a result, imports attained the peak of $106K. From 2021 to 2022, the growth of imports remained at a lower figure.

Import of Musical Instrument Strings in Kuwait (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Germany	2.1	8.0	11.0	9.7	66.5%
Turkey	0.5	7.5	6.9	9.3	165.0%
China	0.1	8.9	1.1	8.6	341.4%
Italy	1.0	5.1	5.2	5.7	78.6%
United States	3.7	8.9	3.0	4.7	8.3%
United Arab Emirates	0.3	0.4	0.3	0.4	10.1%
Taiwan (Chinese)	0.3	0.6	0.2	0.3	0.0%
South Korea	N/A	0.7	0.3	0.3	-34.5%
Syrian Arab Republic	N/A	N/A	0.2	N/A	0%
Others	20.1	65.7	53.8	55.0	39.9%
Total	28.0	106	82.1	93.9	49.7%

Top Suppliers of Musical Instrument Strings to Kuwait in 2022:

China (19.2K units)
Turkey (6.3K units)
Germany (3.3K units)
Taiwan (Chinese) (2.5K units)
United States (2.4K units)
Italy (2.1K units)
South Korea (1.4K units)
United Arab Emirates (0.7K units)

Musical Instrument Strings Exports in Kuwait

Musical instrument strings exports from Kuwait surged to 4.8K units in 2022, picking up by 444% against 2021. In general, exports recorded a significant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 3,896% against the previous year. As a result, the exports attained the peak of 6.6K units. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, musical instrument strings exports surged to $5.6K in 2022. Overall, exports showed significant growth. The pace of growth was the most pronounced in 2020 when exports increased by 2,989% against the previous year. As a result, the exports attained the peak of $10K. From 2021 to 2022, the growth of the exports remained at a lower figure.