Musical Instrument Strings Price in Costa Rica - 2022

Musical Instrument Strings Price in Costa Rica (CIF) - 2022

In 2022, the average musical instrument strings import price amounted to $0.8 per unit, shrinking by -9.8% against the previous year. Over the period under review, import price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, musical instrument strings import price decreased by -18.5% against 2020 indices. The most prominent rate of growth was recorded in 2020 when the average import price increased by 23% against the previous year. As a result, import price attained the peak level of $1 per unit. From 2021 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Mexico ($1.8 per unit), while the price for Hong Kong SAR (less than $0.1 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+5.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Musical Instrument Strings Price in Costa Rica (FOB) - 2022

In 2022, the average musical instrument strings export price amounted to $0.2 per unit, with a decrease of -18.7% against the previous year. In general, the export price continues to indicate a sharp curtailment. The pace of growth appeared the most rapid in 2017 an increase of 31% against the previous year. Over the period under review, the average export prices reached the maximum at $2.7 per unit in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Nicaragua.

From 2012 to 2022, the rate of growth in terms of prices for Nicaragua amounted to -21.8% per year.

Musical Instrument Strings Imports in Costa Rica

In 2022, imports of musical instrument stringses into Costa Rica expanded markedly to 392K units, with an increase of 8.3% on 2021 figures. In general, total imports indicated a strong expansion from 2019 to 2022: its volume increased at an average annual rate of +6.9% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +60.7% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 48%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in years to come.

In value terms, musical instrument strings imports declined slightly to $307K in 2022. The total import value increased at an average annual rate of +6.9% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of 34%. As a result, imports attained the peak of $315K, and then dropped slightly in the following year.

Import of Musical Instrument Strings in Costa Rica (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United States	191	194	244	233	6.8%
Argentina	26.6	11.7	28.4	25.9	-0.9%
China	19.8	12.7	21.7	17.3	-4.4%
Mexico	0.9	0.7	2.1	13.3	145.4%
South Korea	5.0	5.9	7.2	7.8	16.0%
Austria	4.3	4.5	6.0	3.8	-4.0%
Others	3.6	4.4	5.5	6.4	21.1%
Total	251	234	315	307	6.9%

Top Suppliers of Musical Instrument Strings to Costa Rica in 2022:

United States (212.1K units)
China (118.5K units)
Argentina (20.1K units)
Austria (12.9K units)
South Korea (9.9K units)
Mexico (7.3K units)

Musical Instrument Strings Exports in Costa Rica

In 2022, the amount of musical instrument stringses exported from Costa Rica shrank significantly to 451 units, waning by -18.6% against 2021. In general, exports continue to indicate a abrupt decrease. The exports peaked at 837 units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, musical instrument strings exports dropped remarkably to $94 in 2022. Over the period under review, exports continue to indicate a precipitous curtailment. Over the period under review, the exports attained the maximum at $329 in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.