Bolivia: Percussion Musical Instrument Market 2024

Percussion Musical Instrument Market Size in Bolivia

The Bolivian percussion musical instrument market reduced modestly to $X in 2022, waning by -4.3% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption saw a deep reduction. Percussion musical instrument consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Percussion Musical Instrument Exports

Exports from Bolivia

After two years of decline, overseas shipments of percussion musical instruments increased by 26% to X units in 2022. Overall, exports, however, saw a abrupt contraction. The pace of growth was the most pronounced in 2019 when exports increased by 241%. The exports peaked at X units in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, percussion musical instrument exports surged to $X in 2022. Over the period under review, exports, however, continue to indicate a abrupt curtailment. 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

Chile (X units) was the main destination for percussion musical instrument exports from Bolivia, accounting for a 73% share of total exports. Moreover, percussion musical instrument exports to Chile exceeded the volume sent to the second major destination, Denmark (X units), threefold. The third position in this ranking was taken by Finland (X units), with a 1.6% share.

From 2012 to 2022, the average annual growth rate of volume to Chile amounted to -8.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (+5.8% per year) and Finland (-66.1% per year).

In value terms, Denmark ($X) remains the key foreign market for percussion musical instruments exports from Bolivia, comprising 74% of total exports. The second position in the ranking was taken by Chile ($X), with a 20% share of total exports. It was followed by Finland, with a 5.1% share.

From 2012 to 2022, the average annual growth rate of value to Denmark was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (-2.0% per year) and Finland (+3.8% per year).

Export Prices by Country

The average percussion musical instrument export price stood at $X per unit in 2022, with an increase of 150% against the previous year. Overall, the export price recorded a prominent increase. The growth pace was the most rapid in 2017 when the average export price increased by 359%. Over the period under review, the average export prices reached the maximum at $X per unit in 2018; however, from 2019 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 Finland ($X per unit), while the average price for exports to Chile ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Finland (+206.2%), while the prices for the other major destinations experienced more modest paces of growth.

Percussion Musical Instrument Imports

Imports into Bolivia

In 2022, the amount of percussion musical instruments imported into Bolivia declined to X units, dropping by -8.7% compared with the year before. Overall, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when imports increased by 161% against the previous year. As a result, imports reached the peak of X units. From 2020 to 2022, the growth of imports remained at a lower figure.

In value terms, percussion musical instrument imports contracted to $X in 2022. Over the period under review, imports continue to indicate a noticeable contraction. The pace of growth appeared the most rapid in 2014 with an increase of 131%. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) was the main supplier of percussion musical instrument to Bolivia, accounting for a 94% share of total imports. It was followed by the United States (X units), with a 2.2% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+4.7% per year) and Taiwan (Chinese) (-24.6% per year).

In value terms, China ($X) constituted the largest supplier of percussion musical instruments to Bolivia, comprising 83% of total imports. The second position in the ranking was taken by the United States ($X), with a 3.4% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China amounted to -3.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-10.3% per year) and Taiwan (Chinese) (-27.4% per year).

Import Prices by Country

In 2022, the average percussion musical instrument import price amounted to $X per unit, picking up by 8.4% against the previous year. Overall, the import price, however, showed a noticeable decline. The pace of growth appeared the most rapid in 2017 when the average import price increased by 53%. As a result, import price reached the peak level of $X per unit. From 2018 to 2022, the average 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 the United States ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (-3.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform