Angola: Electrical Musical Instrument Market 2024

Electrical Musical Instrument Market Size in Angola

The Angolan electrical musical instrument market rose markedly to $X in 2022, surging by X% against the previous year. Overall, consumption recorded a temperate increase. Electrical musical instrument consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Electrical Musical Instrument Production in Angola

In value terms, electrical musical instrument production rose notably to $X in 2022 estimated in export price. Overall, production showed a perceptible increase. The most prominent rate of growth was recorded in 2018 when the production volume increased by X%. Electrical musical instrument production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Electrical Musical Instrument Exports

Exports from Angola

In 2022, shipments abroad of electrical musical or keyboard instruments decreased by X% to X units for the first time since 2019, thus ending a two-year rising trend. Overall, exports saw a precipitous descent. The most prominent rate of growth was recorded in 2020 when exports increased by X%. Over the period under review, the exports hit record highs at X units in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, electrical musical instrument exports declined rapidly to $X in 2022. Over the period under review, exports continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2020 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

Portugal (X units) was the main destination for electrical musical instrument exports from Angola, accounting for a X% share of total exports. Moreover, electrical musical instrument exports to Portugal exceeded the volume sent to the second major destination, the United States (X units), sevenfold. Nigeria (X units) ranked third in terms of total exports with a X% share.

From 2015 to 2022, the average annual growth rate of volume to Portugal amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Nigeria (X% per year).

In value terms, Portugal ($X) remains the key foreign market for electrical musical or keyboard instruments exports from Angola, comprising X% of total exports. The second position in the ranking was taken by the United States ($X), with a X% share of total exports. It was followed by Belgium, with a X% share.

From 2015 to 2022, the average annual growth rate of value to Portugal totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Belgium (X% per year).

Export Prices by Country

The average electrical musical instrument export price stood at $X per unit in 2022, increasing by X% against the previous year. In general, the export price continues to indicate a significant expansion. The most prominent rate of growth was recorded in 2019 an increase of X% against the previous year. Over the period under review, the average export prices attained the maximum at $X per unit in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Nigeria ($X per unit) was amongst the lowest.

From 2015 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (X%), while the prices for the other major destinations experienced more modest paces of growth.

Electrical Musical Instrument Imports

Imports into Angola

After two years of decline, overseas purchases of electrical musical or keyboard instruments increased by X% to X units in 2022. Overall, imports, however, saw a abrupt curtailment. The pace of growth appeared the most rapid in 2016 with an increase of X%. Over the period under review, imports attained the maximum at X units in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, electrical musical instrument imports surged to $X in 2022. Over the period under review, imports, however, showed a abrupt descent. The pace of growth appeared the most rapid in 2016 when imports increased by X%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

China (X units), the United Arab Emirates (X units) and Portugal (X units) were the main suppliers of electrical musical instrument imports to Angola, together accounting for X% of total imports. Nigeria, the United States, Belgium, France and Hong Kong SAR lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for France (with a CAGR of X%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, China ($X), the United Arab Emirates ($X) and Portugal ($X) constituted the largest electrical musical instrument suppliers to Angola, with a combined X% share of total imports. The United States, Nigeria, Belgium, France and Hong Kong SAR lagged somewhat behind, together accounting for a further X%.

France, with a CAGR of X%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2022, the average electrical musical instrument import price amounted to $X per unit, increasing by X% against the previous year. Over the period under review, import price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, electrical musical instrument import price increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2018 when the average import price increased by X%. The import price peaked in 2022 and is expected to retain growth in the immediate term.

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 the United Arab Emirates ($X per unit), while the price for Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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