Price for Non-Keyboard Electrical Musical Instruments in Finland - 2023

Price for Non-Keyboard Electrical Musical Instruments in Finland (CIF) - 2023

The average non-keyboard electrical musical instruments import price stood at $548 per unit in August 2023, rising by 8.5% against the previous month. Overall, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in April 2023 when the average import price increased by 28% m-o-m. As a result, import price reached the peak level of $672 per unit. From May 2023 to August 2023, the average import prices remained at a lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was Japan ($1,086 per unit), while the price for Denmark ($238 per unit) was amongst the lowest.

From August 2022 to August 2023, the most notable rate of growth in terms of prices was attained by Belgium (+5.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Non-Keyboard Electrical Musical Instruments in Finland (FOB) - 2022

In 2022, the average non-keyboard electrical musical instruments export price amounted to $888 per unit, jumping by 22% against the previous year. Over the period under review, the export price recorded a remarkable increase. The most prominent rate of growth was recorded in 2013 when the average export price increased by 142% against the previous year. The export price peaked at $1,294 per unit in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Canada ($1,693 per unit), while the average price for exports to Latvia ($107 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 the United Arab Emirates (+8.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Non-Keyboard Electrical Musical Instruments in Finland

In 2022, the amount of non-keyboard electrical musical instrumentses imported into Finland expanded significantly to 32K units, picking up by 8.1% against the previous year's figure. In general, imports saw a significant expansion. The growth pace was the most rapid in 2020 when imports increased by 48%. Imports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, non-keyboard electrical musical instruments imports reached $9.4M in 2022. Overall, total imports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +15.0% 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 +52.3% against 2019 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 29%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

Import of Non-Keyboard Electrical Musical Instruments in Finland (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Germany	1,517	2,821	1,892	3,271	29.2%
Netherlands	300	1,471	1,949	1,901	85.0%
Sweden	341	678	2,429	1,036	44.8%
Indonesia	1,005	529	669	955	-1.7%
Japan	337	370	534	609	21.8%
United States	822	321	425	502	-15.2%
China	604	207	321	217	-28.9%
Denmark	159	171	231	161	0.4%
Others	1,116	532	693	791	-10.8%
Total	6,201	7,100	9,145	9,443	15.0%

Top Suppliers of Non-Keyboard Electrical Musical Instruments to Finland in 2022:

Netherlands (8.8K units)
Germany (8.7K units)
Sweden (4.6K units)
Indonesia (3.7K units)
China (1.5K units)
Denmark (1.2K units)
Japan (1.2K units)
United States (0.9K units)

Exports of Non-Keyboard Electrical Musical Instruments in Finland

In 2022, overseas shipments of non-keyboard electrical musical instrumentses decreased by -45.5% to 657 units for the first time since 2018, thus ending a three-year rising trend. Overall, exports, however, posted a significant expansion. The pace of growth appeared the most rapid in 2020 when exports increased by 93%. Over the period under review, the exports hit record highs at 1.2K units in 2021, and then shrank significantly in the following year.

In value terms, non-keyboard electrical musical instruments exports contracted notably to $583K in 2022. Over the period under review, exports, however, recorded significant growth. The pace of growth appeared the most rapid in 2021 with an increase of 111%. As a result, the exports reached the peak of $875K, and then contracted rapidly in the following year.

Export of Non-Keyboard Electrical Musical Instruments in Finland (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United States	71.7	119	262	238	49.2%
Canada	1.5	14.9	59.7	54.2	230.6%
United Kingdom	N/A	N/A	246	42.6	-82.7%
Kazakhstan	N/A	N/A	N/A	34.9	0%
Switzerland	14.5	10.5	19.8	31.8	29.9%
Norway	7.6	10.9	33.3	22.4	43.4%
Australia	7.7	14.0	43.2	19.5	36.3%
Russia	127	113	88.9	13.6	-52.5%
Kyrgyzstan	N/A	N/A	N/A	13.1	0%
United Arab Emirates	N/A	0.5	1.9	11.5	379.6%
Estonia	2.6	4.3	5.2	7.0	39.1%
Lithuania	N/A	N/A	N/A	7.0	0%
Latvia	0.7	0.2	1.9	1.9	39.5%
Others	84.3	127	113	85.7	0.6%
Total	318	414	875	583	22.4%