Belgium: Keyboard Stringed Instrument Market 2024

Keyboard Stringed Instrument Market Size in Belgium

The Belgian keyboard stringed instrument market fell remarkably to $X in 2022, with a decrease of X% against the previous year. In general, consumption saw a abrupt slump. Keyboard stringed instrument consumption peaked at $X in 2021, and then fell significantly in the following year.

Keyboard Stringed Instrument Production in Belgium

In value terms, keyboard stringed instrument production contracted slightly to $X in 2022 estimated in export price. Overall, production showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Keyboard Stringed Instrument Exports

Exports from Belgium

In 2022, the amount of keyboard stringed instruments exported from Belgium surged to X units, picking up by X% compared with the previous year. Overall, exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of X%. As a result, the exports attained the peak of X units. From 2021 to 2022, the growth of the exports failed to regain momentum.

In value terms, keyboard stringed instrument exports surged to $X in 2022. Over the period under review, exports continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

The United States (X units) was the main destination for keyboard stringed instrument exports from Belgium, accounting for a X% share of total exports. Moreover, keyboard stringed instrument exports to the United States exceeded the volume sent to the second major destination, Nigeria (X units), threefold. The third position in this ranking was taken by Macao SAR (X units), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nigeria (X% per year) and Macao SAR (X% per year).

In value terms, the United States ($X), Macao SAR ($X) and Japan ($X) were the largest markets for keyboard stringed instrument exported from Belgium worldwide, together comprising X% of total exports.

In terms of the main countries of destination, the United States, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average keyboard stringed instrument export price amounted to $X per unit, surging by X% against the previous year. Overall, the export price showed prominent growth. The pace of growth appeared the most rapid in 2014 when the average export price increased by X%. The export price peaked at $X per unit in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Macao SAR ($X per unit), while the average price for exports to Nigeria ($X 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 Germany (X%), while the prices for the other major destinations experienced more modest paces of growth.

Keyboard Stringed Instrument Imports

Imports into Belgium

In 2022, overseas purchases of keyboard stringed instruments decreased by X% to X units, falling for the second consecutive year after two years of growth. Overall, imports recorded a deep contraction. The pace of growth appeared the most rapid in 2020 when imports increased by X%. As a result, imports reached the peak of X units. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, keyboard stringed instrument imports fell rapidly to $X in 2022. Over the period under review, imports recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2021, and then contracted notably in the following year.

Imports by Country

In 2022, China (X units) constituted the largest supplier of keyboard stringed instrument to Belgium, accounting for a X% share of total imports. Moreover, keyboard stringed instrument imports from China exceeded the figures recorded by the second-largest supplier, Indonesia (X units), threefold. The third position in this ranking was taken by Australia (X units), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (X% per year) and Australia (X% per year).

In value terms, Japan ($X), Indonesia ($X) and China ($X) constituted the largest keyboard stringed instrument suppliers to Belgium, with a combined X% share of total imports. Germany, India, France, Poland, Australia, Switzerland, Italy, Spain, Thailand and the Czech Republic lagged somewhat behind, together comprising a further X%.

Among the main suppliers, the Czech Republic, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average keyboard stringed instrument import price amounted to $X per unit, waning by X% against the previous year. Overall, the import price, however, recorded strong growth. The most prominent rate of growth was recorded in 2019 when the average import price increased by X% against the previous year. Over the period under review, average import prices reached the maximum at $X per unit in 2021, and then contracted notably in the following year.

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 Japan ($X per unit), while the price for the Czech Republic ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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