Musical Instrument Strings Price in Iraq - 2022

Contents:

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

Musical Instrument Strings Price in Iraq (CIF) - 2022

In 2022, the average musical instrument strings import price amounted to $1.7 per unit, almost unchanged from the previous year. Overall, the import price continues to indicate a significant expansion. The most prominent rate of growth was recorded in 2017 when the average import price increased by 178%. Over the period under review, average import prices hit record highs at $2.2 per unit in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

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 France ($23 per unit), while the price for Turkey ($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 United Arab Emirates (+36.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Musical Instrument Strings Price in Iraq (FOB) - 2022

The average musical instrument strings export price stood at $2.1 per unit in 2022, increasing by 34% against the previous year. Over the period from 2019 to 2022, it increased at an average annual rate of +10.6%. The most prominent rate of growth was recorded in 2020 an increase of 36%. As a result, the export price attained the peak level of $2.1 per unit; afterwards, it flattened through to 2022.

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

From 2019 to 2022, the rate of growth in terms of prices for the United Arab Emirates amounted to -0.3% per year.

Musical Instrument Strings Imports in Iraq

In 2022, after three years of growth, there was significant decline in overseas purchases of musical instrument stringses, when their volume decreased by -49% to 70K units. Over the period under review, imports, however, saw a significant increase. The pace of growth appeared the most rapid in 2020 when imports increased by 737% against the previous year. Over the period under review, imports attained the maximum at 137K units in 2021, and then reduced remarkably in the following year.

In value terms, musical instrument strings imports dropped remarkably to $120K in 2022. Overall, imports, however, showed significant growth. The growth pace was the most rapid in 2021 when imports increased by 403%. As a result, imports reached the peak of $235K, and then fell rapidly in the following year.

Top Suppliers of Musical Instrument Strings to Iraq in 2022:

1. China (63.4K units)
2. Turkey (3.2K units)
3. France (1.9K units)
4. Germany (1.0K units)
5. United Arab Emirates (0.2K units)

Musical Instrument Strings Exports in Iraq

In 2022, the amount of musical instrument stringses exported from Iraq declined dramatically to 217 units, which is down by -51.2% against 2021. Overall, exports faced a deep setback. The pace of growth appeared the most rapid in 2021 when exports increased by 105% against the previous year. As a result, the exports reached the peak of 445 units, and then fell markedly in the following year.

In value terms, musical instrument strings exports dropped markedly to $450 in 2022. Over the period under review, exports recorded a abrupt curtailment. The growth pace was the most rapid in 2021 when exports increased by 52%. As a result, the exports reached the peak of $687, and then contracted notably in the following year.

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

1. United Arab Emirates (217.0 units)

Source: IndexBox Market Intelligence Platform