Musical Instrument Strings Price in Saudi Arabia - 2021

Contents:

1. Musical Instrument Strings Price in Saudi Arabia (CIF) - 2022
2. Musical Instrument Strings Price in Saudi Arabia (FOB) - 2022
3. Musical Instrument Strings Imports in Saudi Arabia
4. Musical Instrument Strings Exports in Saudi Arabia

Musical Instrument Strings Price in Saudi Arabia (CIF) - 2022

The average musical instrument strings import price stood at $0.7 per unit in 2022, growing by 141% against the previous year. Overall, the import price posted a strong expansion. The import price peaked at $0.8 per unit in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United Arab Emirates ($2.3 per unit), while the price for China ($0.2 per unit) was amongst the lowest.

From 2018 to 2022, the most notable rate of growth in terms of prices was attained by Pakistan (+21.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Musical Instrument Strings Price in Saudi Arabia (FOB) - 2022

The average musical instrument strings export price stood at $2.2 per unit in 2022, surging by 6.9% against the previous year. Over the period from 2021 to 2022, it increased at an average annual rate of +6.9%. 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 the United Arab Emirates ($3.4 per unit), while the average price for exports to Finland ($0.1 per unit) was amongst the lowest.

From 2021 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (0.0%), while the prices for the other major destinations experienced more modest paces of growth.

Musical Instrument Strings Imports in Saudi Arabia

In 2022, the amount of musical instrument stringses imported into Saudi Arabia declined remarkably to 426K units, reducing by -63% against 2021 figures. Overall, imports, however, recorded a noticeable increase. The pace of growth appeared the most rapid in 2021 with an increase of 275% against the previous year. As a result, imports attained the peak of 1.2M units, and then reduced remarkably in the following year.

In value terms, musical instrument strings imports contracted to $279K in 2022. In general, total imports indicated a buoyant increase from 2019 to 2022: its value increased at an average annual rate of +16.5% 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 +58.0% against 2019 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 39% against the previous year. Over the period under review, imports hit record highs at $311K in 2021, and then fell in the following year.

Top Suppliers of Musical Instrument Strings to Saudi Arabia in 2022:

1. China (374.2K units)
2. Germany (16.5K units)
3. United Arab Emirates (11.1K units)
4. United States (4.1K units)

Musical Instrument Strings Exports in Saudi Arabia

In 2022, approx. 241 units of musical instrument stringses were exported from Saudi Arabia; picking up by 10% compared with the previous year's figure. In general, exports, however, recorded a deep reduction. The exports peaked at 436 units in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, musical instrument strings exports soared to $527 in 2022. Overall, exports, however, showed a drastic downturn. Over the period under review, the exports reached the maximum at $770 in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Top Export Markets for Musical Instrument Strings from Saudi Arabia in 2022:

1. United Arab Emirates (119.0 units)
2. Finland (30.0 units)
3. Germany (12.0 units)
4. Ireland (12.0 units)
5. Switzerland (10.0 units)

Source: IndexBox Market Intelligence Platform