Musical Instrument Strings Price in Hungary - 2023

Contents:

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

Musical Instrument Strings Price in Hungary (CIF) - 2022

In 2022, the average musical instrument strings import price amounted to $1.8 per unit, remaining relatively unchanged against the previous year. Over the period under review, import price indicated a slight expansion from 2012 to 2022: its price increased at an average annual rate of +1.3% 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 import price decreased by -27.1% against 2019 indices. The pace of growth was the most pronounced in 2019 when the average import price increased by 76% against the previous year. As a result, import price attained the peak level of $2.5 per unit. From 2020 to 2022, the average import prices remained 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 ($4.6 per unit), while the price for China ($0.3 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+10.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Musical Instrument Strings Price in Hungary (FOB) - 2022

In 2022, the average musical instrument strings export price amounted to $14 per unit, with an increase of 96% against the previous year. In general, the export price recorded a buoyant expansion. The pace of growth was the most pronounced in 2014 an increase of 305%. The export price peaked in 2022 and is likely to continue growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Egypt ($18 per unit), while the average price for exports to Slovakia ($2.7 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 Egypt (+96.1%), while the prices for the other major destinations experienced more modest paces of growth.

Musical Instrument Strings Imports in Hungary

Musical instrument strings imports into Hungary skyrocketed to 189K units in 2022, with an increase of 23% compared with 2021. Overall, imports saw significant growth. The most prominent rate of growth was recorded in 2021 when imports increased by 52%. Over the period under review, imports attained the maximum in 2022 and are likely to see gradual growth in years to come.

In value terms, musical instrument strings imports skyrocketed to $340K in 2022. In general, total imports indicated a buoyant increase from 2019 to 2022: its value increased at an average annual rate of +9.2% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +59.3% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 29% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are likely to see steady growth in the near future.

Top Suppliers of Musical Instrument Strings to Hungary in 2022:

1. United States (98.7K units)
2. China (48.5K units)
3. Germany (13.0K units)
4. United Kingdom (6.8K units)
5. South Korea (6.4K units)
6. Austria (5.6K units)
7. Slovenia (4.5K units)

Musical Instrument Strings Exports in Hungary

In 2022, the amount of musical instrument stringses exported from Hungary soared to 2.6K units, jumping by 48% on 2021 figures. In general, exports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 97%. As a result, the exports reached the peak of 2.8K units. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, musical instrument strings exports soared to $36K in 2022. Overall, exports enjoyed a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

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

1. Egypt (1312.0 units)
2. United States (1093.0 units)
3. Canada (88.0 units)
4. Slovakia (50.0 units)
5. Czech Republic (42.0 units)

Source: IndexBox Market Intelligence Platform