Price for Non-Keyboard Electrical Musical Instruments in the Philippines - 2023
Contents:
- Price for Non-Keyboard Electrical Musical Instruments in the Philippines (CIF) - 2022
- Price for Non-Keyboard Electrical Musical Instruments in the Philippines (FOB) - 2022
- Imports of Non-Keyboard Electrical Musical Instruments in the Philippines
- Exports of Non-Keyboard Electrical Musical Instruments in the Philippines
Price for Non-Keyboard Electrical Musical Instruments in the Philippines (CIF) - 2022
In 2022, the average non-keyboard electrical musical instruments import price amounted to $45 per unit, surging by 1.7% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by 64% against the previous year. As a result, import price attained the peak level of $77 per unit. From 2019 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 Indonesia ($263 per unit), while the price for Singapore ($11 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+16.5%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Non-Keyboard Electrical Musical Instruments in the Philippines (FOB) - 2022
In 2022, the average non-keyboard electrical musical instruments export price amounted to $210 per unit, with a decrease of -20.7% against the previous year. In general, the export price, however, recorded a moderate increase. The most prominent rate of growth was recorded in 2016 when the average export price increased by 1,337% against the previous year. The export price peaked at $276 per unit in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($958 per unit), while the average price for exports to Germany ($74 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 United States (+31.4%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Non-Keyboard Electrical Musical Instruments in the Philippines
Non-keyboard electrical musical instruments imports into the Philippines expanded rapidly to 82K units in 2022, increasing by 11% compared with 2021. The total import volume increased at an average annual rate of +6.5% from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, non-keyboard electrical musical instruments imports rose notably to $3.7M in 2022. In general, imports, however, continue to indicate a pronounced curtailment. The growth pace was the most rapid in 2021 with an increase of 15% against the previous year. Over the period under review, imports hit record highs at $4M in 2019; however, from 2020 to 2022, imports failed to regain momentum.
Import of Non-Keyboard Electrical Musical Instruments in the Philippines (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
China | 1,974 | 1,491 | 1,750 | 1,648 | -5.8% |
Indonesia | 668 | 355 | 721 | 834 | 7.7% |
Malaysia | 123 | 161 | 265 | 177 | 12.9% |
Australia | 24.9 | 0.3 | 13.9 | 176 | 91.9% |
Japan | 206 | 229 | 70.8 | 58.8 | -34.2% |
Singapore | 270 | 228 | 162 | 54.8 | -41.2% |
Others | 744 | 355 | 271 | 725 | -0.9% |
Total | 4,010 | 2,819 | 3,254 | 3,673 | -2.9% |
Top Suppliers of Non-Keyboard Electrical Musical Instruments to the Philippines in 2022:
- China (63.7K units)
- Singapore (5.0K units)
- Australia (4.4K units)
- Indonesia (3.2K units)
- Japan (3.2K units)
- Malaysia (1.0K units)
Exports of Non-Keyboard Electrical Musical Instruments in the Philippines
In 2022, shipments abroad of non-keyboard electrical musical instrumentses was finally on the rise to reach 9K units for the first time since 2019, thus ending a two-year declining trend. In general, exports, however, saw a precipitous decline. The exports peaked at 19K units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.
In value terms, non-keyboard electrical musical instruments exports surged to $1.9M in 2022. Overall, exports, however, saw a precipitous curtailment. Over the period under review, the exports reached the peak figure at $3.8M in 2019; however, from 2020 to 2022, the exports failed to regain momentum.
Export of Non-Keyboard Electrical Musical Instruments in the Philippines (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
United States | 183 | 31.3 | 159 | 1,195 | 86.9% |
Germany | N/A | N/A | N/A | 376 | 0% |
Japan | 78.0 | 655 | N/A | 72.8 | -2.3% |
Australia | 58.5 | N/A | 0.1 | 15.1 | -36.3% |
United Kingdom | 44.0 | N/A | N/A | N/A | 0% |
India | 3,111 | N/A | N/A | N/A | 0% |
Others | 331 | 0.8 | 13.0 | 235 | -10.8% |
Total | 3,805 | 687 | 172 | 1,894 | -20.7% |
Top Export Markets for Non-Keyboard Electrical Musical Instruments from the Philippines in 2022:
- Germany (5.0K units)
- United States (3.3K units)
- Australia (0.2K units)
- Japan (0.1K units)
This report provides an in-depth analysis of the electrical musical instrument market in the Philippines.
This report provides an in-depth analysis of the global electrical musical instrument market.
This report provides an in-depth analysis of the electrical musical instrument market in the Philippines.
This report provides an in-depth analysis of the global electrical musical instrument market.
Discover the top import markets for electrical musical instruments in 2023. Learn about the key countries driving the global trade of musical instruments.
Discover the top import markets for electrical musical instruments in 2023. Learn about the key countries driving the global trade of musical instruments.