Belgium: Accordion Market 2024

Accordion Market Size in Belgium

In 2021, the Belgian accordion market decreased by -79.6% to $X for the first time since 2016, thus ending a four-year rising trend. Over the period under review, consumption, however, enjoyed a prominent expansion. Over the period under review, the market attained the maximum level at $X in 2020, and then reduced sharply in the following year.

Accordion Exports

Exports from Belgium

Accordion exports from Belgium skyrocketed to X units in 2021, increasing by 142% on the previous year. Over the period under review, exports posted a resilient expansion. The growth pace was the most rapid in 2020 with an increase of 156% against the previous year. The exports peaked in 2021 and are likely to continue growth in the near future.

In value terms, accordion exports expanded modestly to $X in 2021. Overall, exports recorded slight growth. The pace of growth appeared the most rapid in 2020 with an increase of 310%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Germany (X units) was the main destination for accordion exports from Belgium, with a 79% share of total exports. Moreover, accordion exports to Germany exceeded the volume sent to the second major destination, France (X units), more than tenfold. The third position in this ranking was taken by Hungary (X units), with a 3.9% share.

From 2012 to 2021, the average annual growth rate of volume to Germany stood at +42.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (-7.7% per year) and Hungary (+54.1% per year).

In value terms, Germany ($X) emerged as the key foreign market for accordions and mouth organs exports from Belgium, comprising 66% of total exports. The second position in the ranking was held by France ($X), with a 4.8% share of total exports. It was followed by the Netherlands, with a 3.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Germany amounted to +30.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (-7.2% per year) and the Netherlands (+3.6% per year).

Export Prices by Country

In 2021, the average accordion export price amounted to $X per unit, reducing by -57.7% against the previous year. Overall, the export price continues to indicate a deep setback. The pace of growth appeared the most rapid in 2020 when the average export price increased by 60%. The export price peaked at $X per unit in 2012; however, from 2013 to 2021, 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 ($X per unit), while the average price for exports to Hungary ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Norway (+17.7%), while the prices for the other major destinations experienced more modest paces of growth.

Accordion Imports

Imports into Belgium

In 2021, purchases abroad of accordions and mouth organs decreased by -30% to X units for the first time since 2016, thus ending a four-year rising trend. In general, imports, however, showed buoyant growth. The most prominent rate of growth was recorded in 2020 when imports increased by 194%. As a result, imports attained the peak of X units, and then reduced markedly in the following year.

In value terms, accordion imports declined to $X in 2021. Over the period under review, imports, however, continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2017 when imports increased by 96%. Over the period under review, imports hit record highs at $X in 2020, and then shrank in the following year.

Imports by Country

China (X units), Indonesia (X units) and the Netherlands (X units) were the main suppliers of accordion imports to Belgium, together accounting for 74% of total imports. Japan, Germany and France lagged somewhat behind, together accounting for a further 22%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Japan (with a CAGR of +194.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Japan ($X) and Indonesia ($X) constituted the largest accordion suppliers to Belgium, with a combined 79% share of total imports.

In terms of the main suppliers, Japan, with a CAGR of +223.7%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average accordion import price amounted to $X per unit, jumping by 33% against the previous year. In general, import price indicated a slight expansion from 2012 to 2021: its price increased at an average annual rate of +1.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, accordion import price decreased by -30.8% against 2019 indices. The pace of growth was the most pronounced in 2017 an increase of 53%. The import price peaked at $X per unit in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+9.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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