Musical Instrument Strings Price in the Dominican Republic - 2023

Musical Instrument Strings Price in the Dominican Republic (CIF) - 2022

The average musical instrument strings import price stood at $0.5 per unit in 2022, picking up by 48% against the previous year. In general, the import price, however, showed a abrupt decrease. The import price peaked at $1.8 per unit in 2012; however, from 2013 to 2022, import prices stood 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 Italy ($1.2 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 Italy (-3.9%), while the prices for the other major suppliers experienced a decline.

Musical Instrument Strings Price in the Dominican Republic (FOB) - 2022

In 2022, the average musical instrument strings export price amounted to $0.8 per unit, with an increase of 8.2% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 an increase of 80%. The export price peaked at $2.4 per unit in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Haiti ($2.9 per unit), while the average price for exports to the United States stood at $0.7 per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+14.3%).

Musical Instrument Strings Imports in the Dominican Republic

Musical instrument strings imports into the Dominican Republic plummeted to 197K units in 2022, waning by -36.5% on the previous year. Overall, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 101%. As a result, imports attained the peak of 310K units, and then contracted rapidly in the following year.

In value terms, musical instrument strings imports contracted to $107K in 2022. Over the period under review, imports continue to indicate a abrupt curtailment. The growth pace was the most rapid in 2021 when imports increased by 37% against the previous year. Over the period under review, imports attained the maximum at $143K in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Import of Musical Instrument Strings in the Dominican Republic (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United States	110	63.7	74.6	87.7	-7.3%
China	24.9	12.9	31.9	16.1	-13.5%
Italy	6.2	5.3	6.5	3.4	-18.1%
Others	2.2	1.6	1.5	N/A	-17.4%
Total	143	83.4	114	107	-9.2%

Top Suppliers of Musical Instrument Strings to the Dominican Republic in 2022:

United States (140.5K units)
China (53.3K units)
Italy (2.8K units)

Musical Instrument Strings Exports in the Dominican Republic

In 2022, shipments abroad of musical instrument stringses decreased by -16.3% to 328 units, falling for the second consecutive year after two years of growth. Overall, exports, however, enjoyed a resilient increase. The growth pace was the most rapid in 2020 when exports increased by 770%. As a result, the exports reached the peak of 2.1K units. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, musical instrument strings exports shrank to $257 in 2022. In general, exports showed a pronounced shrinkage. The growth pace was the most rapid in 2020 with an increase of 384%. As a result, the exports reached the peak of $1.4K. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.