Price for Keyboard Electrical Musical Instruments, Other than Accordions in India - 2023
Contents:
- Price for Keyboard Electrical Musical Instruments, Other than Accordions in India (CIF) - 2023
- Price for Keyboard Electrical Musical Instruments, Other than Accordions in India (FOB) - 2022
- Imports of Keyboard Electrical Musical Instruments, Other than Accordions in India
- Exports of Keyboard Electrical Musical Instruments, Other than Accordions in India
Price for Keyboard Electrical Musical Instruments, Other than Accordions in India (CIF) - 2023
The average import price for keyboard electrical musical instruments, other than accordionses stood at $92.8 per unit in November 2023, picking up by 7.7% against the previous month. In general, import price indicated resilient growth from November 2022 to November 2023: its price increased at an average monthly rate of +7.9% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on November 2023 figures, import price for keyboard electrical musical instruments, other than accordionses increased by +27.5% against August 2023 indices. The pace of growth was the most pronounced in February 2023 when the average import price increased by 71% m-o-m. Over the period under review, average import prices hit record highs at $93.2 per unit in July 2023; however, from August 2023 to November 2023, import prices remained at a lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was Malaysia ($385 per unit), while the price for China ($68.0 per unit) was amongst the lowest.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+10.7%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Keyboard Electrical Musical Instruments, Other than Accordions in India (FOB) - 2022
The average export price for keyboard electrical musical instruments, other than accordionses stood at $89 per unit in 2022, rising by 98% against the previous year. Overall, the export price continues to indicate prominent growth. The growth pace was the most rapid in 2019 an increase of 99% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is likely to continue growth in the near future.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($119 per unit), while the average price for exports to Sri Lanka ($33 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 Japan (+20.3%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Keyboard Electrical Musical Instruments, Other than Accordions in India
In 2022, imports of keyboard electrical musical instruments, other than accordionses into India fell sharply to 356K units, dropping by -20.2% compared with 2021. Overall, total imports indicated a perceptible expansion from 2019 to 2022: its volume increased at an average annual rate of +2.9% 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 +25.3% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 57%. As a result, imports reached the peak of 446K units, and then contracted significantly in the following year.
In value terms, imports of keyboard electrical musical instruments, other than accordionses reached $22M in 2022. In general, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 31%. Over the period under review, imports of attained the maximum in 2022 and are likely to continue growth in the near future.
| Import of Keyboard Electrical Musical Instruments, Other than Accordions in India (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 15.0 | 10.9 | 14.1 | 12.5 | -5.9% |
| Malaysia | 3.3 | 2.8 | 4.2 | 7.6 | 32.1% |
| Hong Kong SAR | 1.2 | 1.2 | 1.1 | 1.1 | -2.9% |
| Others | 2.2 | 0.5 | 0.7 | 0.7 | -31.7% |
| Total | 21.7 | 15.3 | 20.0 | 21.9 | 0.3% |
Top Suppliers of Keyboard Electrical Musical Instruments, Other than Accordions to India in 2022:
- China (309.0K units)
- Hong Kong SAR (26.0K units)
- Malaysia (20.1K units)
Exports of Keyboard Electrical Musical Instruments, Other than Accordions in India
For the fourth year in a row, India recorded growth in overseas shipments of keyboard electrical musical instruments, other than accordionses, which increased by 9.1% to 227K units in 2022. Over the period under review, exports showed a significant expansion. The pace of growth was the most pronounced in 2021 when exports increased by 64%. The exports peaked in 2022 and are likely to see steady growth in the near future.
In value terms, exports of keyboard electrical musical instruments, other than accordionses skyrocketed to $20M in 2022. In general, exports showed a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Keyboard Electrical Musical Instruments, Other than Accordions in India (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Malaysia | 1.0 | 0.5 | 1.2 | 5.9 | 80.7% |
| United Arab Emirates | 0.3 | 0.5 | 1.0 | 4.1 | 139.1% |
| Germany | 0.7 | 0.4 | 1.6 | 2.2 | 46.5% |
| United States | 0.9 | 0.2 | 0.9 | 2.1 | 32.6% |
| France | 0.3 | 0.3 | 0.8 | 1.7 | 78.3% |
| Japan | 0.3 | 0.7 | 0.5 | 0.8 | 38.7% |
| United Kingdom | 0.3 | 0.2 | 0.4 | 0.7 | 32.6% |
| China | N/A | 1.6 | 2.0 | 0.5 | -44.1% |
| Others | 0.6 | 0.7 | 1.1 | 2.2 | 54.2% |
| Total | 4.5 | 5.2 | 9.4 | 20.2 | 65.0% |
Top Export Markets for Keyboard Electrical Musical Instruments, Other than Accordions from India in 2022:
- Malaysia (54.5K units)
- United Arab Emirates (34.3K units)
- France (28.5K units)
- Germany (28.0K units)
- Japan (20.2K units)
- United States (17.8K units)
- China (12.7K units)
- United Kingdom (8.7K units)
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This report provides an in-depth analysis of the electrical musical instrument market in India.
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This report provides an in-depth analysis of the global electrical musical instrument market.
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Discover the top import markets for electrical musical instruments in 2023. Learn about the key countries driving the global trade of musical instruments.
