Musical Instrument Strings Price in Nepal - 2022

Contents:

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

Musical Instrument Strings Price in Nepal (CIF) - 2022

In 2022, the average musical instrument strings import price amounted to $0.9 per unit, surging by 51% against the previous year. In general, the import price, however, saw a perceptible descent. The pace of growth appeared the most rapid in 2018 when the average import price increased by 113% against the previous year. The import price peaked at $2.2 per unit in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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 the United States ($2.5 per unit), while the price for India ($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 Taiwan (Chinese) (+1.4%), while the prices for the other major suppliers experienced a decline.

Musical Instrument Strings Price in Nepal (FOB) - 2022

In 2021, the average musical instrument strings export price amounted to $1.8 per unit, increasing by 1.5% against the previous year. Overall, the export price recorded measured growth. The pace of growth was the most pronounced in 2015 an increase of 39%. As a result, the export price reached the peak level of $2 per unit. From 2016 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Australia ($2.6 per unit), while the average price for exports to Belgium ($0.3 per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+1,056.8%), while the prices for the other major destinations experienced mixed trend patterns.

Musical Instrument Strings Imports in Nepal

In 2022, supplies from abroad of musical instrument stringses decreased by -17.8% to 57K units for the first time since 2018, thus ending a three-year rising trend. Over the period under review, imports, however, showed a significant increase. The most prominent rate of growth was recorded in 2021 when imports increased by 58%. As a result, imports attained the peak of 70K units, and then contracted rapidly in the following year.

In value terms, musical instrument strings imports surged to $51K in 2022. In general, imports, however, recorded a resilient increase. The pace of growth appeared the most rapid in 2021 when imports increased by 102%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in years to come.

Top Suppliers of Musical Instrument Strings to Nepal in 2022:

1. India (18.7K units)
2. United States (15.1K units)
3. South Korea (8.3K units)
4. China (7.2K units)
5. United Kingdom (5.9K units)
6. Singapore (1.0K units)
7. Taiwan (Chinese) (0.5K units)

Musical Instrument Strings Exports in Nepal

In 2021, exports of musical instrument stringses from Nepal declined rapidly to 199 units, reducing by -26% against 2020 figures. In general, exports continue to indicate a precipitous setback. Over the period under review, the exports attained the maximum at 478 units in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, musical instrument strings exports fell sharply to $368 in 2021. Overall, exports showed a dramatic downturn. The exports peaked at $687 in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

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

1. Australia (122.0 units)
2. United Arab Emirates (44.0 units)
3. Belgium (32.0 units)

Source: IndexBox Market Intelligence Platform