Musical Instrument Strings Price in the United States - 2023
Contents:
- Musical Instrument Strings Price in the United States (FOB) - 2023
- Musical Instrument Strings Price in the United States (CIF) - 2022
- Musical Instrument Strings Exports in the United States
- Musical Instrument Strings Imports in the United States
Musical Instrument Strings Price in the United States (FOB) - 2023
In September 2023, the average musical instrument strings export price amounted to $3.7 per unit, remaining stable against the previous month. In general, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in December 2022 when the average export price increased by 26% month-to-month. Over the period under review, the average export prices reached the maximum at $4.3 per unit in October 2022; however, from November 2022 to September 2023, the export prices failed to regain momentum.
Prices varied noticeably by the country of destination: the country with the highest price was Australia ($5.8 per unit), while the average price for exports to Denmark ($896 per thousand units) was amongst the lowest.
From September 2022 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to France (+5.1%), while the prices for the other major destinations experienced more modest paces of growth.
Musical Instrument Strings Price in the United States (CIF) - 2022
The average musical instrument strings import price stood at $4.1 per unit in 2022, increasing by 15% against the previous year. Over the period under review, the import price showed strong growth. The most prominent rate of growth was recorded in 2020 an increase of 64%. The import price peaked in 2022 and is likely to see gradual growth in years to come.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Denmark ($20 per unit), while the price for Argentina ($0.7 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Denmark (+27.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Musical Instrument Strings Exports in the United States
In 2022, after three years of growth, there was significant decline in overseas shipments of musical instrument stringses, when their volume decreased by -11.6% to 27M units. The total export volume increased at an average annual rate of +3.0% from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by 23%. As a result, the exports reached the peak of 31M units, and then shrank in the following year.
In value terms, musical instrument strings exports declined to $91M in 2022. The total export value increased at an average annual rate of +1.7% from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by 21%. As a result, the exports reached the peak of $99M, and then dropped in the following year.
| Export of Musical Instrument Strings in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Kingdom | 12.4 | 13.7 | 16.6 | 16.7 | 10.4% |
| Japan | 12.5 | 11.6 | 9.9 | 10.2 | -6.6% |
| Canada | 8.0 | 8.3 | 9.2 | 8.9 | 3.6% |
| Germany | 7.3 | 6.8 | 8.6 | 8.6 | 5.6% |
| China | 4.4 | 4.6 | 6.1 | 5.8 | 9.6% |
| Australia | 3.5 | 3.7 | 3.8 | 4.2 | 6.3% |
| Indonesia | 3.3 | 2.3 | 4.2 | 2.8 | -5.3% |
| Brazil | 2.3 | 1.4 | 2.3 | 2.7 | 5.5% |
| South Korea | 1.9 | 1.4 | 3.3 | 2.6 | 11.0% |
| Mexico | 1.5 | 1.6 | 2.4 | 2.4 | 17.0% |
| France | 1.8 | 1.9 | 2.1 | 2.1 | 5.3% |
| Italy | 1.5 | 1.1 | 1.4 | 1.5 | 0.0% |
| Sweden | 1.6 | 1.7 | 1.9 | 1.5 | -2.1% |
| Others | 24.4 | 21.9 | 27.7 | 20.6 | -5.5% |
| Total | 86.3 | 82.0 | 99.3 | 90.7 | 1.7% |
Top Export Markets for Musical Instrument Strings from the United States in 2022:
- United Kingdom (4.0M units)
- Germany (3.0M units)
- Japan (2.7M units)
- Canada (2.4M units)
- China (2.2M units)
- Indonesia (1.2M units)
- Australia (1.1M units)
- France (1.1M units)
- South Korea (1.1M units)
- Brazil (0.7M units)
- Mexico (0.7M units)
- Italy (0.6M units)
- Sweden (0.6M units)
Musical Instrument Strings Imports in the United States
In 2022, the amount of musical instrument stringses imported into the United States shrank dramatically to 5.2M units, falling by -22.3% on 2021 figures. In general, imports saw a dramatic curtailment. The most prominent rate of growth was recorded in 2021 with an increase of 47%. Imports peaked at 10M units in 2019; however, from 2020 to 2022, imports remained at a lower figure.
In value terms, musical instrument strings imports shrank to $21M in 2022. Overall, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by 51% against the previous year. As a result, imports reached the peak of $24M, and then dropped in the following year.
| Import of Musical Instrument Strings in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Austria | 6.1 | 3.8 | 6.9 | 5.3 | -4.6% |
| Germany | 5.7 | 4.9 | 4.6 | 4.8 | -5.6% |
| Mexico | 3.5 | 2.0 | 6.0 | 4.7 | 10.3% |
| United Kingdom | 1.6 | 1.4 | 1.9 | 2.0 | 7.7% |
| Denmark | 1.3 | 1.2 | 1.6 | 1.6 | 7.2% |
| China | 1.7 | 0.6 | 0.4 | 0.7 | -25.6% |
| Italy | 0.5 | 0.5 | 0.7 | 0.5 | 0.0% |
| France | 0.5 | 0.5 | 0.7 | 0.5 | 0.0% |
| Argentina | 0.1 | 0.1 | 0.2 | 0.2 | 26.0% |
| Others | 0.7 | 0.7 | 1.0 | 1.0 | 12.6% |
| Total | 21.7 | 15.8 | 23.9 | 21.4 | -0.5% |
Top Suppliers of Musical Instrument Strings to the United States in 2022:
- Mexico (2578.1K units)
- China (392.3K units)
- Austria (387.5K units)
- Germany (357.4K units)
- Italy (291.2K units)
- France (247.4K units)
- Argentina (226.1K units)
- United Kingdom (210.9K units)
- Denmark (79.7K units)
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