Musical Instrument Strings Price in Slovakia - 2023

Musical Instrument Strings Price in Slovakia (FOB) - 2022

The average musical instrument strings export price stood at $3.9 per unit in 2022, increasing by 29% against the previous year. Overall, the export price, however, showed a noticeable curtailment. The pace of growth was the most pronounced in 2017 when the average export price increased by 33% against the previous year. The export price peaked at $5.6 per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($23 per unit), while the average price for exports to Germany ($1 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 Germany (+3.9%), while the prices for the other major destinations experienced more modest paces of growth.

Musical Instrument Strings Price in Slovakia (CIF) - 2023

The average musical instrument strings import price stood at $2.9 per unit in August 2023, growing by 35% against the previous month. In general, import price indicated a noticeable increase from August 2022 to August 2023: its price increased at an average monthly rate of +2.2% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on August 2023 figures, musical instrument strings import price increased by +35.2% against July 2023 indices. The most prominent rate of growth was recorded in January 2023 when the average import price increased by 71% against the previous month. Over the period under review, average import prices reached the peak figure at $3.2 per unit in May 2023; however, from June 2023 to August 2023, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In August 2023, the country with the highest price was Austria ($12.3 per unit), while the price for the United States ($935 per thousand units) was amongst the lowest.

From August 2022 to August 2023, the most notable rate of growth in terms of prices was attained by Austria (+20.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Musical Instrument Strings Exports in Slovakia

In 2022, the amount of musical instrument stringses exported from Slovakia shrank remarkably to 183K units, falling by -63.1% against 2021 figures. In general, exports continue to indicate a sharp decrease. The growth pace was the most rapid in 2021 when exports increased by 1.4% against the previous year. Over the period under review, the exports attained the peak figure at 501K units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, musical instrument strings exports dropped significantly to $716K in 2022. Over the period under review, exports saw a abrupt decrease. The most prominent rate of growth was recorded in 2021 when exports increased by 30%. As a result, the exports attained the peak of $1.5M, and then plummeted in the following year.

Export of Musical Instrument Strings in Slovakia (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Czech Republic	343	384	551	286	-5.9%
United States	143	108	161	137	-1.4%
Hungary	243	265	316	40.9	-44.8%
Poland	97.0	123	119	36.5	-27.8%
Germany	14.2	24.5	33.3	5.5	-27.1%
Romania	32.8	43.3	51.8	2.4	-58.2%
Others	224	207	272	207	-2.6%
Total	1,097	1,155	1,505	716	-13.3%

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

Czech Republic (113.7K units)
Poland (28.0K units)
Hungary (12.3K units)
United States (5.9K units)
Germany (5.3K units)
Romania (1.9K units)

Musical Instrument Strings Imports in Slovakia

Musical instrument strings imports into Slovakia surged to 599K units in 2022, increasing by 28% on the previous year's figure. In general, imports, however, faced a dramatic slump. Imports peaked at 1.6M units in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, musical instrument strings imports contracted slightly to $1.1M in 2022. Over the period under review, imports, however, continue to indicate a drastic downturn. The pace of growth was the most pronounced in 2020 when imports increased by 16% against the previous year. As a result, imports reached the peak of $2M. From 2021 to 2022, the growth of imports remained at a lower figure.

Import of Musical Instrument Strings in Slovakia (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United States	625	768	621	495	-7.5%
China	104	103	151	151	13.2%
Austria	66.9	56.9	89.6	62.6	-2.2%
United Kingdom	45.8	27.9	76.1	43.8	-1.5%
Germany	58.1	56.4	83.6	22.6	-27.0%
France	61.1	55.6	67.1	15.8	-36.3%
Mexico	2.4	5.4	5.9	9.8	59.8%
Czech Republic	18.1	20.1	19.1	6.9	-27.5%
Others	731	885	47.2	318	-24.2%
Total	1,711	1,978	1,161	1,125	-13.0%