Musical Instrument Strings Price in Italy - 2023

Musical Instrument Strings Price in Italy (FOB) - 2022

In 2022, the average musical instrument strings export price amounted to $1.9 per unit, waning by -16.2% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the average export price increased by 19%. Over the period under review, the average export prices reached the peak figure at $2.2 per unit in 2021, and then reduced markedly in the following year.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the UK ($8.5 per unit), while the average price for exports to Austria ($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 (+10.0%), while the prices for the other major destinations experienced more modest paces of growth.

Musical Instrument Strings Price in Italy (CIF) - 2023

The average musical instrument strings import price stood at $1.9 per unit in August 2023, growing by 5.4% against the previous month. Over the period under review, import price indicated perceptible growth from August 2022 to August 2023: its price increased at an average monthly rate of +2.9% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on August 2023 figures, musical instrument strings import price increased by +76.3% against June 2023 indices. The growth pace was the most rapid in April 2023 when the average import price increased by 90% month-to-month. Over the period under review, average import prices hit record highs at $2.2 per unit in February 2023; however, from March 2023 to August 2023, import prices failed to regain momentum.

Prices varied noticeably by the country of origin: the country with the highest price was Austria ($10.2 per unit), while the price for Spain ($596 per thousand units) was amongst the lowest.

From August 2022 to August 2023, the most notable rate of growth in terms of prices was attained by France (+13.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Musical Instrument Strings Exports in Italy

In 2022, approx. 1.8M units of musical instrument stringses were exported from Italy; dropping by -16.5% against 2021. Overall, exports saw a abrupt decline. The pace of growth was the most pronounced in 2021 with an increase of 0.7% against the previous year. The exports peaked at 2.2M units in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, musical instrument strings exports fell markedly to $3.3M in 2022. In general, exports showed a abrupt shrinkage. The growth pace was the most rapid in 2020 when exports increased by 13%. Over the period under review, the exports reached the maximum at $4.7M in 2021, and then declined rapidly in the following year.

Export of Musical Instrument Strings in Italy (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United States	468	632	582	516	3.3%
France	391	451	592	474	6.6%
Germany	769	668	744	382	-20.8%
Japan	119	93.2	114	254	28.8%
United Kingdom	446	466	402	250	-17.5%
Spain	200	330	287	217	2.8%
Hong Kong SAR	383	603	408	181	-22.1%
Czech Republic	76.2	99.8	224	109	12.7%
Netherlands	55.0	104	99.8	78.2	12.4%
China	252	193	403	68.9	-35.1%
Singapore	N/A	9.5	40.3	65.1	161.8%
Poland	81.8	41.8	57.2	42.7	-19.5%
Austria	28.3	31.3	47.5	10.0	-29.3%
Others	619	668	737	671	2.7%
Total	3,888	4,391	4,738	3,318	-5.1%

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

France (405.7K units)
Germany (348.6K units)
Spain (154.2K units)
Singapore (126.8K units)
United States (89.4K units)
Japan (77.8K units)
Netherlands (69.5K units)
Hong Kong SAR (67.2K units)
Poland (63.2K units)
Austria (36.1K units)
Czech Republic (34.2K units)
United Kingdom (29.5K units)
China (19.8K units)

Musical Instrument Strings Imports in Italy

In 2022, the amount of musical instrument stringses imported into Italy fell to 2.3M units, which is down by -11.1% on the previous year. The total import volume increased at an average annual rate of +2.4% from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when imports increased by 29%. As a result, imports attained the peak of 2.6M units, and then fell in the following year.

In value terms, musical instrument strings imports reduced to $3.7M in 2022. Over the period under review, imports continue to indicate a abrupt slump. The pace of growth was the most pronounced in 2021 when imports increased by 9.8%. Over the period under review, imports hit record highs at $4.9M in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Import of Musical Instrument Strings in Italy (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United States	1,703	1,044	1,123	1,405	-6.2%
Germany	880	593	850	760	-4.8%
France	300	293	302	384	8.6%
Spain	171	600	602	326	24.0%
United Kingdom	1,062	650	526	297	-34.6%
Mexico	191	181	277	133	-11.4%
China	55.7	48.2	94.7	72.2	9.0%
Netherlands	29.5	27.0	62.3	42.0	12.5%
Others	470	496	483	295	-14.4%
Total	4,863	3,932	4,319	3,715	-8.6%