Angola: Keyboard Stringed Instrument Market 2024

Keyboard Stringed Instrument Market Size in Angola

The Angolan keyboard stringed instrument market reduced to $X in 2022, waning by -8.7% against the previous year. Overall, consumption saw a deep setback. Keyboard stringed instrument consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Keyboard Stringed Instrument Production in Angola

In value terms, keyboard stringed instrument production soared to $X in 2022 estimated in export price. Overall, production, however, faced a drastic downturn. Keyboard stringed instrument production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Keyboard Stringed Instrument Exports

Exports from Angola

After two years of decline, shipments abroad of keyboard stringed instruments increased by 25% to X units in 2022. Over the period under review, exports continue to indicate a significant increase. The pace of growth was the most pronounced in 2016 when exports increased by 700% against the previous year. The exports peaked at X units in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, keyboard stringed instrument exports surged to $X in 2022. In general, exports saw significant growth. The pace of growth was the most pronounced in 2016 with an increase of 266% against the previous year. Over the period under review, the exports hit record highs at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

France (X units), Portugal (X units) and South Africa (X units) were the main destinations of keyboard stringed instrument exports from Angola, together accounting for 65% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by France (with a CAGR of +15.2%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for keyboard stringed instrument exported from Angola were the United States ($X), Brazil ($X) and France ($X), together comprising 64% of total exports.

Among the main countries of destination, Brazil, with a CAGR of +87.8%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average keyboard stringed instrument export price amounted to $X per unit, jumping by 73% against the previous year. Over the period under review, the export price, however, continues to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2020 when the average export price increased by 153%. The export price peaked at $X per unit in 2014; however, from 2015 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 Brazil ($X per unit), while the average price for exports to France ($X per unit) was amongst the lowest.

From 2014 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia (+116.3%), while the prices for the other major destinations experienced more modest paces of growth.

Keyboard Stringed Instrument Imports

Imports into Angola

In 2022, the amount of keyboard stringed instruments imported into Angola declined to X units, dropping by -10% compared with the previous year. Over the period under review, imports recorded a abrupt contraction. The growth pace was the most rapid in 2018 when imports increased by 100% against the previous year. As a result, imports reached the peak of X units. From 2019 to 2022, the growth of imports failed to regain momentum.

In value terms, keyboard stringed instrument imports fell to $X in 2022. Overall, imports showed a drastic downturn. The most prominent rate of growth was recorded in 2021 when imports increased by 30%. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Namibia (X units), the United States (X units) and Switzerland (X units) were the main suppliers of keyboard stringed instrument imports to Angola, together comprising 33% of total imports. These countries were followed by Belgium, France, the UK, Hong Kong SAR, the United Arab Emirates, Germany and Nigeria, which together accounted for a further 56%.

From 2012 to 2022, the biggest increases were recorded for the UK (with a CAGR of +26.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Hong Kong SAR ($X) constituted the largest supplier of keyboard stringed instruments to Angola, comprising 31% of total imports. The second position in the ranking was taken by France ($X), with a 12% share of total imports. It was followed by the United States, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Hong Kong SAR stood at -6.6%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+18.9% per year) and the United States (+24.1% per year).

Import Prices by Country

The average keyboard stringed instrument import price stood at $X per unit in 2022, dropping by -1.8% against the previous year. Overall, the import price showed a noticeable shrinkage. The most prominent rate of growth was recorded in 2019 when the average import price increased by 27%. The import price peaked at $X per unit in 2014; however, from 2015 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 Hong Kong SAR ($X per unit), while the price for Switzerland ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (+30.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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