Musical Instrument Strings Price in Ethiopia - 2022

Contents:

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

Musical Instrument Strings Price in Ethiopia (FOB) - 2022

In 2022, the average musical instrument strings export price amounted to $2 per unit, rising by 3.4% against the previous year. Over the period under review, export price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +4.9% 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 export price decreased by -18.0% against 2020 indices. The pace of growth was the most pronounced in 2020 an increase of 62%. As a result, the export price attained the peak level of $2.5 per unit. From 2021 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($4.7 per unit), while the average price for exports to the Netherlands ($0.5 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 Uganda (+21.9%), while the prices for the other major destinations experienced more modest paces of growth.

Musical Instrument Strings Price in Ethiopia (CIF) - 2022

The average musical instrument strings import price stood at $0.4 per unit in 2022, surging by 43% against the previous year. Over the period under review, the import price, however, continues to indicate a deep slump. The pace of growth was the most pronounced in 2016 an increase of 71% against the previous year. The import price peaked at $1 per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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 Germany ($1.6 per unit), while the price for Saudi Arabia (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 South Korea (+33.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Musical Instrument Strings Exports in Ethiopia

In 2022, exports of musical instrument stringses from Ethiopia surged to 1.6K units, picking up by 214% against the previous year. Overall, exports continue to indicate significant growth. The most prominent rate of growth was recorded in 2020 when exports increased by 621% against the previous year. As a result, the exports attained the peak of 2.4K units. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, musical instrument strings exports surged to $3.2K in 2022. Over the period under review, exports saw a significant increase. The growth pace was the most rapid in 2020 when exports increased by 1,069% against the previous year. As a result, the exports attained the peak of $5.9K. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

Top Export Markets for Musical Instrument Strings from Ethiopia in 2022:

1. United Kingdom (444.0 units)
2. Canada (337.0 units)
3. Uganda (286.0 units)
4. United States (220.0 units)
5. Kenya (168.0 units)
6. Netherlands (110.0 units)

Musical Instrument Strings Imports in Ethiopia

Musical instrument strings imports into Ethiopia reduced sharply to 5K units in 2022, shrinking by -86.7% compared with 2021 figures. Overall, imports faced a precipitous descent. The pace of growth was the most pronounced in 2021 when imports increased by 309%. As a result, imports reached the peak of 38K units, and then plummeted in the following year.

In value terms, musical instrument strings imports contracted remarkably to $2K in 2022. In general, imports continue to indicate a sharp setback. The growth pace was the most rapid in 2021 with an increase of 144% against the previous year. Imports peaked at $22K in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Top Suppliers of Musical Instrument Strings to Ethiopia in 2022:

1. Canada (1288.0 units)
2. Belgium (1174.0 units)
3. Kenya (462.0 units)
4. India (461.0 units)
5. United States (428.0 units)
6. United Kingdom (400.0 units)
7. China (225.0 units)

Source: IndexBox Market Intelligence Platform