Musical Instrument Strings Price in Uruguay - 2022

Musical Instrument Strings Price in Uruguay (CIF) - 2022

In 2022, the average musical instrument strings import price amounted to $0.8 per unit, declining by -43.4% against the previous year. Overall, the import price saw a noticeable slump. The most prominent rate of growth was recorded in 2015 an increase of 31%. As a result, import price attained the peak level of $1.5 per unit. From 2016 to 2022, the average 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 Argentina ($1.5 per unit), while the price for China ($0.5 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (+5.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Musical Instrument Strings Price in Uruguay (FOB) - 2022

In 2022, the average musical instrument strings export price amounted to $2.8 per unit, jumping by 19% against the previous year. Overall, the export price, however, showed a pronounced downturn. The most prominent rate of growth was recorded in 2018 an increase of 96%. Over the period under review, the average export prices hit record highs at $3.8 per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Spain.

From 2012 to 2022, the rate of growth in terms of prices for Spain amounted to -2.8% per year.

Musical Instrument Strings Imports in Uruguay

In 2022, imports of musical instrument stringses into Uruguay soared to 183K units, picking up by 38% on the year before. The total import volume increased at an average annual rate of +8.2% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, musical instrument strings imports dropped markedly to $149K in 2022. Overall, imports, however, saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2021 when imports increased by 17% against the previous year. Over the period under review, imports attained the maximum at $201K in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Import of Musical Instrument Strings in Uruguay (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United States	133	103	121	108	-6.7%
China	7.0	6.7	4.1	20.0	41.9%
Argentina	27.5	15.9	28.1	8.8	-31.6%
Spain	2.7	2.7	2.9	N/A	3.6%
Italy	4.7	4.3	4.8	N/A	1.1%
Others	25.8	31.6	30.1	12.7	-21.0%
Total	201	164	191	149	-9.5%

Top Suppliers of Musical Instrument Strings to Uruguay in 2022:

United States (130.9K units)
China (43.2K units)
Argentina (6.0K units)

Musical Instrument Strings Exports in Uruguay

In 2022, approx. 23K units of musical instrument stringses were exported from Uruguay; surging by 3.6% compared with 2021 figures. In general, total exports indicated buoyant growth from 2019 to 2022: its volume increased at an average annual rate of +16.7% 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 decreased by -3.4% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of 64%. As a result, the exports attained the peak of 24K units. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, musical instrument strings exports skyrocketed to $65K in 2022. Over the period under review, total exports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +19.0% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -15.7% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of 100% against the previous year. As a result, the exports reached the peak of $77K. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.