Musical Instrument Strings Price in Uganda - 2022

Contents:

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

Musical Instrument Strings Price in Uganda (FOB) - 2022

In 2022, the average musical instrument strings export price amounted to $2.1 per unit, growing by 3.3% against the previous year. Over the period under review, the export price saw a remarkable increase. The pace of growth appeared the most rapid in 2019 when the average export price increased by 258% against the previous year. As a result, the export price attained the peak level of $3.6 per unit. From 2020 to 2022, the average export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Rwanda.

From 2012 to 2022, the rate of growth in terms of prices for Rwanda amounted to +5.9% per year.

Musical Instrument Strings Price in Uganda (CIF) - 2022

The average musical instrument strings import price stood at $1.1 per unit in 2022, which is down by -8.9% against the previous year. Overall, the import price showed a noticeable setback. The pace of growth appeared the most rapid in 2019 when the average import price increased by 124% against the previous year. Over the period under review, average import prices reached the peak figure at $1.8 per unit in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Ethiopia ($4.1 per unit), while the price for the UK ($0.2 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+111.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Musical Instrument Strings Exports in Uganda

In 2022, the amount of musical instrument stringses exported from Uganda stood at 555 units, picking up by 14% against 2021 figures. In general, exports saw a significant expansion. The pace of growth was the most pronounced in 2020 with an increase of 120%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, musical instrument strings exports skyrocketed to $1.2K in 2022. Over the period under review, total exports indicated significant growth from 2019 to 2022: its value increased at an average annual rate of +20.0% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +72.9% against 2019 indices. The pace of growth appeared the most rapid in 2020 when exports increased by 24%. The exports peaked in 2022 and are likely to continue growth in the immediate term.

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

1. Rwanda (555.0 units)

Musical Instrument Strings Imports in Uganda

Musical instrument strings imports into Uganda rose slightly to 554 units in 2022, surging by 2% on the year before. The total import volume increased at an average annual rate of +4.2% over the period from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when imports increased by 6.5%. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, musical instrument strings imports declined to $592 in 2022. Overall, imports, however, showed a deep setback. The smallest decline of -6.6% was in 2020. Imports peaked at $730 in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Top Suppliers of Musical Instrument Strings to Uganda in 2022:

1. United Kingdom (261.0 units)
2. China (113.0 units)
3. Ethiopia (89.0 units)
4. United Arab Emirates (79.0 units)
5. Japan (9.0 units)

Source: IndexBox Market Intelligence Platform