Price for Musical Instruments; Wind, Brass (Eg Trumpets) in Latvia - 2023

Price for Musical Instruments; Wind, Brass (Eg Trumpets) in Latvia (CIF) - 2022

In 2022, the average import price for musical instruments; wind, brass (eg trumpets) amounted to $260 per unit, picking up by 11% against the previous year. In general, the import price, however, continues to indicate a noticeable curtailment. The most prominent rate of growth was recorded in 2016 when the average import price increased by 67% against the previous year. Over the period under review, average import prices hit record highs at $442 per unit in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Taiwan (Chinese) ($378 per unit), while the price for Cyprus ($10 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+7.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Musical Instruments; Wind, Brass (Eg Trumpets) in Latvia (FOB) - 2022

The average export price for musical instruments; wind, brass (eg trumpets) stood at $95 per unit in 2022, shrinking by -65.6% against the previous year. In general, the export price faced a abrupt downturn. The most prominent rate of growth was recorded in 2017 an increase of 67%. Over the period under review, the average export prices reached the peak figure at $865 per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Russia ($324 per unit), while the average price for exports to Belarus stood at $9 per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (-7.1%).

Imports of Musical Instruments; Wind, Brass (Eg Trumpets) in Latvia

In 2022, approx. 274 units of musical instruments; wind, brass (eg trumpets) were imported into Latvia; with a decrease of -42.9% on 2021. Over the period under review, imports saw a deep reduction. The growth pace was the most rapid in 2021 with an increase of 36% against the previous year. As a result, imports reached the peak of 480 units, and then shrank sharply in the following year.

In value terms, imports of musical instruments; wind, brass (eg trumpets) reduced dramatically to $71K in 2022. In general, imports saw a precipitous curtailment. The smallest decline of -1.6% was in 2020. Over the period under review, imports of reached the peak figure at $158K in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Import of Musical Instruments; Wind, Brass (Eg Trumpets) in Latvia (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Germany	129	103	81.4	53.5	-25.4%
Taiwan (Chinese)	N/A	0.9	1.7	14.4	300.0%
Japan	N/A	N/A	N/A	1.5	0%
China	10.0	N/A	5.2	0.3	-68.9%
Poland	0.1	N/A	0.1	0.2	26.0%
Cyprus	N/A	N/A	N/A	0.1	0%
United Kingdom	7.9	5.1	13.1	N/A	28.8%
Others	11.8	47.3	10.5	1.1	-54.7%
Total	158	156	112	71.2	-23.3%

Top Suppliers of Musical Instruments; Wind, Brass (Eg Trumpets) to Latvia in 2022:

Germany (213.0 units)
Taiwan (Chinese) (38.0 units)
Cyprus (7.0 units)
Poland (6.0 units)
Japan (5.0 units)
China (1.0 units)

Exports of Musical Instruments; Wind, Brass (Eg Trumpets) in Latvia

After two years of growth, shipments abroad of musical instruments; wind, brass (eg trumpets) decreased by -68.6% to 11 units in 2022. Overall, exports recorded a deep reduction. The pace of growth appeared the most rapid in 2021 with an increase of 169% against the previous year. As a result, the exports reached the peak of 35 units, and then shrank sharply in the following year.

In value terms, exports of musical instruments; wind, brass (eg trumpets) fell notably to $1K in 2022. Over the period under review, exports continue to indicate a dramatic descent. The growth pace was the most rapid in 2021 with an increase of 161% against the previous year. As a result, the exports attained the peak of $9.6K, and then contracted dramatically in the following year.