Musical Instrument Strings Price in Hong Kong SAR - 2023
Contents:
- Musical Instrument Strings Price in Hong Kong SAR (CIF) - 2022
- Musical Instrument Strings Price in Hong Kong SAR (FOB) - 2022
- Musical Instrument Strings Imports in Hong Kong SAR
- Musical Instrument Strings Exports in Hong Kong SAR
Musical Instrument Strings Price in Hong Kong SAR (CIF) - 2022
In 2022, the average musical instrument strings import price amounted to $4.4 per unit, growing by 9.8% against the previous year. Overall, import price indicated a prominent expansion from 2012 to 2022: its price increased at an average annual rate of +5.9% 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 increased by +31.3% against 2020 indices. The growth pace was the most rapid in 2016 an increase of 32% against the previous year. The import price peaked in 2022 and is likely to see gradual growth in the near future.
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 Austria ($25 per unit), while the price for China ($1 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Croatia (+23.7%), while the prices for the other major suppliers experienced more modest paces of growth.
Musical Instrument Strings Price in Hong Kong SAR (FOB) - 2022
The average musical instrument strings export price stood at $2.5 per unit in 2022, increasing by 86% against the previous year. Over the period under review, the export price showed a remarkable increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($2.7 per unit), while the average price for exports to the UK ($0.3 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 UK (+50.5%), while the prices for the other major destinations experienced more modest paces of growth.
Musical Instrument Strings Imports in Hong Kong SAR
In 2022, imports of musical instrument stringses into Hong Kong SAR fell notably to 1.5M units, dropping by -26.2% on 2021. In general, imports continue to indicate a deep reduction. The most prominent rate of growth was recorded in 2021 with an increase of 55%. Imports peaked at 2.1M units in 2019; however, from 2020 to 2022, imports remained at a lower figure.
In value terms, musical instrument strings imports contracted dramatically to $6.6M in 2022. Overall, imports recorded a perceptible shrinkage. The growth pace was the most rapid in 2021 with an increase of 86% against the previous year. As a result, imports attained the peak of $8.2M, and then shrank dramatically in the following year.
| Import of Musical Instrument Strings in Hong Kong SAR (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 4.5 | 2.7 | 4.5 | 3.3 | -9.8% |
| Germany | 1.6 | 0.8 | 1.6 | 1.4 | -4.4% |
| Croatia | N/A | N/A | 0.8 | 1.2 | 50.0% |
| Austria | 1.0 | 0.6 | 0.9 | 0.6 | -15.7% |
| South Korea | N/A | N/A | N/A | N/A | 0% |
| China | N/A | 0.1 | 0.1 | N/A | 0.0% |
| France | 0.1 | 0.1 | 0.1 | N/A | 0.0% |
| Others | 0.2 | 0.1 | 0.2 | 0.1 | -20.6% |
| Total | 7.4 | 4.4 | 8.2 | 6.6 | -3.7% |
Top Suppliers of Musical Instrument Strings to Hong Kong SAR in 2022:
- United States (1272.2K units)
- Germany (85.5K units)
- Croatia (52.3K units)
- China (43.9K units)
- Austria (23.3K units)
- France (6.1K units)
- South Korea (2.5K units)
Musical Instrument Strings Exports in Hong Kong SAR
In 2022, the amount of musical instrument stringses exported from Hong Kong SAR reduced notably to 1.1M units, which is down by -40.6% on the previous year. Overall, exports saw a deep downturn. The most prominent rate of growth was recorded in 2021 when exports increased by 56%. As a result, the exports reached the peak of 1.9M units, and then fell notably in the following year.
In value terms, musical instrument strings exports rose notably to $2.8M in 2022. In general, exports, however, posted a strong expansion. The pace of growth appeared the most rapid in 2021 when exports increased by 82%. The exports peaked in 2022 and are expected to retain growth in years to come.
| Export of Musical Instrument Strings in Hong Kong SAR (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 1,515 | 1,038 | 2,332 | 2,655 | 20.6% |
| United States | 71.7 | 274 | 157 | 88.2 | 7.1% |
| France | 5.9 | 7.7 | 12.4 | 12.6 | 28.8% |
| Mexico | N/A | 6.2 | 5.8 | 9.2 | 21.8% |
| United Kingdom | N/A | 7.1 | 18.8 | 9.0 | 12.6% |
| Others | 84.2 | 69.8 | 28.6 | 56.0 | -12.7% |
| Total | 1,676 | 1,402 | 2,555 | 2,830 | 19.1% |
Top Export Markets for Musical Instrument Strings from Hong Kong SAR in 2022:
- China (973.5K units)
- United States (44.2K units)
- United Kingdom (34.0K units)
- Mexico (24.0K units)
- France (19.6K units)
428
Global Metronome Market Report 2018. This report provides an in-depth analysis of the global metronome market.
428
Global Metronome Market Report 2018. This report provides an in-depth analysis of the global metronome market.
Nothing found. Please try again.
