Musical Instrument Strings Price in Russia - 2022

Musical Instrument Strings Price in Russia (CIF) - 2022

The average musical instrument strings import price stood at $2.1 per unit in January 2022, waning by -3.2% against the previous month. In general, import price indicated a modest expansion from January 2021 to January 2022: its price increased at an average monthly rate of +1.2% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on January 2022 figures, musical instrument strings import price decreased by -33.4% against November 2021 indices. The most prominent rate of growth was recorded in October 2021 an increase of 41% m-o-m. Over the period under review, average import prices reached the peak figure at $3.2 per unit in November 2021; however, from December 2021 to January 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In January 2022, the country with the highest price was the UK ($7.0 per unit), while the price for China ($720 per thousand units) was amongst the lowest.

From January 2021 to January 2022, the most notable rate of growth in terms of prices was attained by China (+5.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Musical Instrument Strings Price in Russia (FOB) - 2022

The average musical instrument strings export price stood at $2.1 per unit in 2022, reducing by -3.1% against the previous year. Overall, the export price, however, recorded a resilient expansion. The most prominent rate of growth was recorded in 2016 when the average export price increased by 27% against the previous year. Over the period under review, the average export prices hit record highs at $2.1 per unit in 2021, and then dropped in the following year.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Kazakhstan ($2.1 per unit), while the average price for exports to Belarus amounted to $2.1 per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Kazakhstan (+13.0%), while the prices for the other major destinations experienced more modest paces of growth.

Musical Instrument Strings Imports in Russia

In 2022, after three years of growth, there was significant decline in overseas purchases of musical instrument stringses, when their volume decreased by -12.1% to 2.5M units. The total import volume increased at an average annual rate of +7.4% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when imports increased by 33%. As a result, imports attained the peak of 2.9M units, and then fell in the following year.

In value terms, musical instrument strings imports fell sharply to $5M in 2022. Over the period under review, total imports indicated a buoyant increase from 2019 to 2022: its value increased at an average annual rate of +8.8% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +28.7% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 45% against the previous year. As a result, imports attained the peak of $5.9M, and then contracted remarkably in the following year.

Import of Musical Instrument Strings in Russia (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United States	2.9	3.0	4.5	4.0	11.3%
China	0.2	0.3	0.3	0.5	35.7%
United Kingdom	0.2	0.2	0.2	0.3	14.5%
France	0.1	0.1	0.2	0.2	26.0%
Others	0.6	0.6	0.8	N/A	15.5%
Total	3.9	4.1	5.9	5.0	8.6%

Top Suppliers of Musical Instrument Strings to Russia in 2022:

United States (1622.8K units)
China (770.7K units)
France (51.9K units)
United Kingdom (42.4K units)

Musical Instrument Strings Exports in Russia

After three years of growth, overseas shipments of musical instrument stringses decreased by -11.8% to 95K units in 2022. In general, total exports indicated a resilient expansion from 2019 to 2022: its volume increased at an average annual rate of +14.0% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +48.3% against 2019 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 31% against the previous year. As a result, the exports attained the peak of 108K units, and then dropped in the following year.

In value terms, musical instrument strings exports declined to $197K in 2022. Over the period under review, total exports indicated buoyant growth from 2019 to 2022: its value increased at an average annual rate of +16.1% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +56.7% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 41%. As a result, the exports reached the peak of $230K, and then reduced in the following year.

Export of Musical Instrument Strings in Russia (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Belarus	80.1	76.9	125	141	20.7%
Kazakhstan	38.2	59.9	67.2	56.0	13.6%
Ukraine	6.9	19.7	30.6	N/A	110.6%
Others	0.3	6.6	7.5	0.1	-30.7%
Total	126	163	230	197	16.1%