Musical Instrument Strings Price in Pakistan - 2023
Contents:
- Musical Instrument Strings Price in Pakistan (FOB) - 2022
- Musical Instrument Strings Price in Pakistan (CIF) - 2022
- Musical Instrument Strings Exports in Pakistan
- Musical Instrument Strings Imports in Pakistan
Musical Instrument Strings Price in Pakistan (FOB) - 2022
In 2022, the average musical instrument strings export price amounted to $13 per unit, jumping by 141% against the previous year. Overall, the export price recorded a remarkable increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.
Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to France ($13 per unit) and the United States ($13 per unit), while the average price for exports to Canada ($13 per unit) and Saudi Arabia ($13 per unit) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Oman (+45.2%), while the prices for the other major destinations experienced more modest paces of growth.
Musical Instrument Strings Price in Pakistan (CIF) - 2022
The average musical instrument strings import price stood at $2.9 per unit in 2022, declining by -3.1% against the previous year. In general, the import price, however, enjoyed resilient growth. The most prominent rate of growth was recorded in 2013 when the average import price increased by 143%. The import price peaked at $2.9 per unit in 2021, and then shrank modestly in the following year.
Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($3.5 per unit), while the price for the United Arab Emirates amounted to $2.6 per unit.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+22.3%), while the prices for the other major suppliers experienced more modest paces of growth.
Musical Instrument Strings Exports in Pakistan
In 2022, overseas shipments of musical instrument stringses decreased by -64.2% to 14K units, falling for the second year in a row after two years of growth. Overall, exports recorded a sharp slump. The most prominent rate of growth was recorded in 2020 when exports increased by 46%. As a result, the exports reached the peak of 84K units. From 2021 to 2022, the growth of the exports failed to regain momentum.
In value terms, musical instrument strings exports reduced to $182K in 2022. Over the period under review, exports recorded a dramatic downturn. The growth pace was the most rapid in 2020 with an increase of 29%. As a result, the exports reached the peak of $600K. From 2021 to 2022, the growth of the exports failed to regain momentum.
| Export of Musical Instrument Strings in Pakistan (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 205 | 166 | 56.0 | 63.9 | -32.2% |
| France | 21.2 | 198 | 16.2 | 35.3 | 18.5% |
| United Kingdom | 104 | 84.5 | 7.8 | 29.3 | -34.4% |
| Saudi Arabia | 53.7 | 46.0 | 24.1 | 18.5 | -29.9% |
| Germany | 11.6 | 29.5 | 23.6 | 11.1 | -1.5% |
| Canada | 13.0 | 25.6 | 7.0 | 6.8 | -19.4% |
| Ireland | 12.7 | 5.3 | 9.8 | 4.6 | -28.7% |
| Oman | N/A | N/A | 8.8 | N/A | 0% |
| Others | 42.2 | 45.2 | 58.2 | 12.9 | -32.6% |
| Total | 464 | 600 | 211 | 182 | -26.8% |
Top Export Markets for Musical Instrument Strings from Pakistan in 2022:
- United States (4.9K units)
- France (2.7K units)
- United Kingdom (2.2K units)
- Saudi Arabia (1.4K units)
- Germany (0.8K units)
- Canada (0.5K units)
- Ireland (0.4K units)
Musical Instrument Strings Imports in Pakistan
In 2022, the amount of musical instrument stringses imported into Pakistan fell rapidly to 656 units, declining by -24.9% against the year before. Over the period under review, imports continue to indicate a abrupt decline. The pace of growth appeared the most rapid in 2021 when imports increased by 100%. Over the period under review, imports attained the peak figure at 1K units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.
In value terms, musical instrument strings imports plummeted to $1.9K in 2022. In general, imports saw a deep setback. The pace of growth was the most pronounced in 2021 with an increase of 119% against the previous year. As a result, imports attained the peak of $2.6K, and then reduced dramatically in the following year.
| Import of Musical Instrument Strings in Pakistan (USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Arab Emirates | 1,393 | 974 | 1,697 | 1,260 | -3.3% |
| China | 792 | 137 | 821 | 610 | -8.3% |
| Others | N/A | 60.0 | 52.0 | N/A | -13.3% |
| Total | 2,185 | 1,171 | 2,570 | 1,870 | -5.1% |
Top Suppliers of Musical Instrument Strings to Pakistan in 2022:
- United Arab Emirates (483.0 units)
- China (173.0 units)
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