Musical Instrument Strings Price in Luxembourg - 2023

Musical Instrument Strings Price in Luxembourg (CIF) - 2022

In 2022, the average musical instrument strings import price amounted to $1.9 per unit, reducing by -31% against the previous year. In general, the import price saw a pronounced reduction. The most prominent rate of growth was recorded in 2013 when the average import price increased by 45% against the previous year. The import price peaked at $5.3 per unit in 2017; however, from 2018 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 the UK ($7 per unit), while the price for China ($0.8 per unit) was amongst the lowest.

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

Musical Instrument Strings Imports in Luxembourg

For the fourth year in a row, Luxembourg recorded growth in overseas purchases of musical instrument stringses, which increased by 73% to 47K units in 2022. In general, imports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 86%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, musical instrument strings imports skyrocketed to $90K in 2022. The total import value increased at an average annual rate of +15.3% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2020 when imports increased by 28% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the immediate term.

Import of Musical Instrument Strings in Luxembourg (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United States	5.9	2.5	10.6	40.2	89.6%
Germany	23.7	29.1	25.6	18.1	-8.6%
France	2.3	1.6	2.7	7.7	49.6%
United Kingdom	11.0	16.6	11.8	5.5	-20.6%
Belgium	9.2	9.1	10.8	5.4	-16.3%
Poland	3.6	9.3	5.7	3.7	0.9%
Denmark	N/A	1.1	1.4	2.5	50.8%
Italy	0.4	1.5	2.1	1.9	68.1%
China	0.3	0.4	0.6	1.1	54.2%
Others	2.1	3.9	3.8	3.8	21.9%
Total	58.6	75.0	75.3	89.9	15.3%