Musical Instrument Strings Price in Venezuela - 2022

Musical Instrument Strings Price in Venezuela (CIF) - 2022

In 2022, the average musical instrument strings import price amounted to $1.1 per unit, with an increase of 19% against the previous year. Over the period under review, the import price, however, recorded a deep contraction. The pace of growth appeared the most rapid in 2016 an increase of 39%. Over the period under review, average import prices attained the maximum at $2.3 per unit in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

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 Panama ($12 per unit), while the price for China ($0.1 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Panama (+33.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Musical Instrument Strings Price in Venezuela (FOB) - 2022

The average musical instrument strings export price stood at $1.2 per unit in 2022, surging by 11% against the previous year. In general, the export price, however, recorded a perceptible contraction. The export price peaked at $2.4 per unit in 2014; however, from 2015 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 Portugal.

From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to +15.4% per year.

Musical Instrument Strings Imports in Venezuela

After two years of decline, overseas purchases of musical instrument stringses increased by 13,449% to 27K units in 2022. In general, imports showed a significant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, musical instrument strings imports surged to $29K in 2022. Overall, imports enjoyed significant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Import of Musical Instrument Strings in Venezuela (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Italy	0.2	0.2	0.1	12.9	301.0%
United Kingdom	0.1	0.1	N/A	6.6	304.1%
United States	N/A	N/A	N/A	3.1	0%
China	N/A	N/A	N/A	0.9	0%
Colombia	N/A	N/A	N/A	0.2	0%
Hong Kong SAR	N/A	N/A	N/A	0.2	0%
Others	0.1	0.1	N/A	5.3	275.6%
Total	0.5	0.4	0.2	29.2	288.0%

Top Suppliers of Musical Instrument Strings to Venezuela in 2022:

Italy (14.9K units)
China (6.2K units)
United Kingdom (2.7K units)
United States (1.2K units)
Hong Kong SAR (0.9K units)
Colombia (0.5K units)

Musical Instrument Strings Exports in Venezuela

In 2022, approx. 87 units of musical instrument stringses were exported from Venezuela; with a decrease of -96.2% compared with 2021. In general, exports recorded a precipitous decline. Over the period under review, the exports reached the maximum at 2.3K units in 2021, and then declined rapidly in the following year.

In value terms, musical instrument strings exports dropped significantly to $103 in 2022. Over the period under review, exports continue to indicate a precipitous slump. Over the period under review, the exports hit record highs at $2.4K in 2021, and then contracted notably in the following year.