Costa Rica: Percussion Musical Instrument Market 2024

Percussion Musical Instrument Market Size in Costa Rica

The Costa Rican percussion musical instrument market declined to $X in 2022, falling by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption recorded a drastic downturn. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Percussion Musical Instrument Exports

Exports from Costa Rica

In 2022, the amount of percussion musical instruments exported from Costa Rica reduced notably to X units, dropping by X% compared with the year before. Overall, exports recorded a pronounced slump. The most prominent rate of growth was recorded in 2019 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X units in 2021, and then fell remarkably in the following year.

In value terms, percussion musical instrument exports fell sharply to $X in 2022. Over the period under review, exports saw a sharp reduction. The growth pace was the most rapid in 2019 with an increase of X%. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X units) was the main destination for percussion musical instrument exports from Costa Rica, with a X% share of total exports. Moreover, percussion musical instrument exports to the United States exceeded the volume sent to the second major destination, Honduras (X units), more than tenfold. New Zealand (X units) ranked third in terms of total exports 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: Honduras (X% per year) and New Zealand (X% per year).

In value terms, the United States ($X) remains the key foreign market for percussion musical instruments exports from Costa Rica, comprising X% of total exports. The second position in the ranking was held by Honduras ($X), with a X% share of total exports. It was followed by New Zealand, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Honduras (X% per year) and New Zealand (X% per year).

Export Prices by Country

In 2022, the average percussion musical instrument export price amounted to $X per unit, with a decrease of X% against the previous year. Overall, the export price recorded a significant contraction. The growth pace was the most rapid in 2018 an increase of X% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were Honduras ($X per unit) and New Zealand ($X per unit), while the average price for exports to Nicaragua ($X per unit) and the United States ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Honduras (X%), while the prices for the other major destinations experienced a decline.

Percussion Musical Instrument Imports

Imports into Costa Rica

For the fourth consecutive year, Costa Rica recorded decline in purchases abroad of percussion musical instruments, which decreased by X% to X units in 2022. In general, imports recorded a abrupt contraction. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. As a result, imports attained the peak of X units. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, percussion musical instrument imports dropped to $X in 2022. Overall, imports saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2013 when imports increased by X%. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

The United States (X units), China (X units) and Thailand (X units) were the main suppliers of percussion musical instrument imports to Costa Rica, with a combined X% share of total imports. Taiwan (Chinese), Indonesia, Germany and Panama lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of X%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest percussion musical instrument suppliers to Costa Rica were the United States ($X), China ($X) and Thailand ($X), together comprising X% of total imports. Taiwan (Chinese), Indonesia, Germany and Panama lagged somewhat behind, together accounting for a further X%.

Indonesia, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average percussion musical instrument import price amounted to $X per unit, growing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2015 an increase of X% against the previous year. Over the period under review, average import prices reached the maximum in 2022 and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Panama ($X per unit) and Indonesia ($X per unit), while the price for Thailand ($X per unit) and China ($X per unit) were amongst the lowest.

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

Source: IndexBox Platform