Price for Non-Keyboard Electrical Musical Instruments in South Korea - 2022
Contents:
- Price for Non-Keyboard Electrical Musical Instruments in South Korea (FOB) - 2022
- Price for Non-Keyboard Electrical Musical Instruments in South Korea (CIF) - 2022
- Exports of Non-Keyboard Electrical Musical Instruments in South Korea
- Imports of Non-Keyboard Electrical Musical Instruments in South Korea
Price for Non-Keyboard Electrical Musical Instruments in South Korea (FOB) - 2022
In 2022, the average non-keyboard electrical musical instruments export price amounted to $597 per unit, growing by 29% against the previous year. Overall, the export price saw buoyant growth. The pace of growth appeared the most rapid in 2018 when the average export price increased by 93% against the previous year. The export price peaked at $624 per unit in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.
Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were Belgium ($598 per unit) and Australia ($597 per unit), while the average price for exports to the UK ($597 per unit) and Japan ($597 per unit) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+12.3%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Non-Keyboard Electrical Musical Instruments in South Korea (CIF) - 2022
The average non-keyboard electrical musical instruments import price stood at $380 per unit in 2022, shrinking by -2.9% against the previous year. In general, import price indicated a buoyant expansion from 2012 to 2022: its price increased at an average annual rate of +8.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, non-keyboard electrical musical instruments import price increased by +54.4% against 2016 indices. The pace of growth was the most pronounced in 2014 when the average import price increased by 38%. Over the period under review, average import prices attained the maximum at $392 per unit in 2021, and then fell slightly in the following year.
Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Mexico ($380 per unit) and Malaysia ($380 per unit), while the price for Japan ($380 per unit) and China ($380 per unit) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+12.7%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Non-Keyboard Electrical Musical Instruments in South Korea
In 2022, after three years of growth, there was significant decline in shipments abroad of non-keyboard electrical musical instrumentses, when their volume decreased by -19.5% to 61K units. The total export volume increased at an average annual rate of +5.2% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when exports increased by 33% against the previous year. As a result, the exports reached the peak of 75K units, and then shrank sharply in the following year.
In value terms, non-keyboard electrical musical instruments exports rose to $36M in 2022. The total export value increased at an average annual rate of +3.7% from 2019 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The growth pace was the most rapid in 2021 with an increase of 22%. Over the period under review, the exports attained the maximum in 2022 and are likely to see steady growth in the near future.
| Export of Non-Keyboard Electrical Musical Instruments in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 19.5 | 19.4 | 24.4 | 24.7 | 8.2% |
| Germany | 2.8 | 2.6 | 3.2 | 4.2 | 14.5% |
| United Kingdom | 3.5 | 1.6 | 1.4 | 1.7 | -21.4% |
| Japan | 1.7 | 1.4 | 1.0 | 1.1 | -13.5% |
| Netherlands | 1.4 | 1.1 | 1.7 | 1.0 | -10.6% |
| Australia | 0.7 | 0.4 | 0.7 | 0.6 | -5.0% |
| Belgium | 0.2 | 0.5 | 0.3 | 0.6 | 44.2% |
| Others | 2.6 | 1.4 | 2.2 | 2.3 | -4.0% |
| Total | 32.4 | 28.5 | 34.9 | 36.2 | 3.8% |
Top Export Markets for Non-Keyboard Electrical Musical Instruments from South Korea in 2022:
- United States (41.4K units)
- Germany (7.1K units)
- United Kingdom (2.8K units)
- Japan (1.8K units)
- Netherlands (1.7K units)
- Australia (1.0K units)
- Belgium (0.9K units)
Imports of Non-Keyboard Electrical Musical Instruments in South Korea
In 2022, approx. 81K units of non-keyboard electrical musical instrumentses were imported into South Korea; with an increase of 57% against the previous year's figure. In general, imports enjoyed a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, non-keyboard electrical musical instruments imports surged to $31M in 2022. Over the period under review, imports continue to indicate a significant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Non-Keyboard Electrical Musical Instruments in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Indonesia | 3.0 | 4.2 | 5.4 | 9.5 | 46.8% |
| China | 2.9 | 4.4 | 5.1 | 8.4 | 42.5% |
| United States | 4.5 | 4.6 | 5.0 | 6.9 | 15.3% |
| Japan | 1.5 | 1.1 | 1.9 | 2.8 | 23.1% |
| Malaysia | 0.7 | 1.3 | 1.2 | 1.1 | 16.3% |
| Mexico | 0.4 | 0.4 | 0.7 | 1.0 | 35.7% |
| Others | 1.3 | 0.9 | 0.9 | 1.2 | -2.6% |
| Total | 14.3 | 17.0 | 20.2 | 30.8 | 29.1% |
Top Suppliers of Non-Keyboard Electrical Musical Instruments to South Korea in 2022:
- Indonesia (24.9K units)
- China (22.1K units)
- United States (18.2K units)
- Japan (7.3K units)
- Malaysia (2.9K units)
- Mexico (2.6K units)
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