Central Asia: Accordion Market 2024

Accordion Market Size in Central Asia

The Central Asian accordion market surged to $X in 2021, jumping by 343% against the previous year. Over the period under review, consumption posted a strong expansion. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Accordion Production in Central Asia

In value terms, accordion production declined to $X in 2021 estimated in export price. Over the period under review, production recorded mild growth. The pace of growth was the most pronounced in 2019 when the production volume increased by 20%. The level of production peaked at $X in 2020, and then shrank in the following year.

Accordion Exports

Exports in Central Asia

In 2021, the amount of accordions and mouth organs exported in Central Asia reduced dramatically to X units, with a decrease of -33.7% compared with the year before. Over the period under review, exports showed a abrupt contraction. The most prominent rate of growth was recorded in 2020 with an increase of 1,182%. Over the period under review, the exports hit record highs at X units in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, accordion exports fell significantly to $X in 2021. Overall, exports, however, continue to indicate significant growth. The pace of growth was the most pronounced in 2017 when exports increased by 1,209%. The level of export peaked at $X in 2020, and then dropped rapidly in the following year.

Exports by Country

Kazakhstan was the largest exporter of accordions and mouth organs in Central Asia, with the volume of exports amounting to X units, which was approx. 70% of total exports in 2021. It was distantly followed by Mongolia (X units), comprising a 30% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to accordion exports from Kazakhstan stood at -13.8%. At the same time, Mongolia (+24.6%) displayed positive paces of growth. Moreover, Mongolia emerged as the fastest-growing exporter exported in Central Asia, with a CAGR of +24.6% from 2012-2021. Mongolia (+29 p.p.) significantly strengthened its position in terms of the total exports, while Kazakhstan saw its share reduced by -28.4% from 2012 to 2021, respectively.

In value terms, the largest accordion supplying countries in Central Asia were Mongolia ($X) and Kazakhstan ($X).

Mongolia, with a CAGR of +31.5%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review.

Export Prices by Country

In 2021, the export price in Central Asia amounted to $X per unit, shrinking by -13.8% against the previous year. Overall, the export price, however, posted a significant expansion. The pace of growth appeared the most rapid in 2019 an increase of 479%. As a result, the export price attained the peak level of $X per unit. From 2020 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Mongolia ($X per unit), while Kazakhstan stood at $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kazakhstan (+38.7%).

Accordion Imports

Imports in Central Asia

In 2021, approx. X units of accordions and mouth organs were imported in Central Asia; picking up by 327% compared with the previous year. Overall, imports posted a resilient increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, accordion imports soared to $X in 2021. In general, imports posted a prominent increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Kazakhstan (X units) was the key importer of accordions and mouth organs, making up 77% of total imports. Turkmenistan (X units) ranks second in terms of the total imports with a 12% share, followed by Uzbekistan (6%) and Mongolia (4.8%).

Kazakhstan was also the fastest-growing in terms of the accordions and mouth organs imports, with a CAGR of +17.4% from 2012 to 2021. At the same time, Mongolia (+11.0%) and Turkmenistan (+4.3%) displayed positive paces of growth. By contrast, Uzbekistan (-32.3%) illustrated a downward trend over the same period. Kazakhstan (+14 p.p.) and Uzbekistan (+6 p.p.) significantly strengthened its position in terms of the total imports, while Mongolia and Turkmenistan saw its share reduced by -1.6% and -16.4% from 2012 to 2021, respectively.

In value terms, Kazakhstan ($X) constitutes the largest market for imported accordions and mouth organs in Central Asia, comprising 79% of total imports. The second position in the ranking was held by Turkmenistan ($X), with a 10% share of total imports. It was followed by Uzbekistan, with a 7.6% share.

In Kazakhstan, accordion imports expanded at an average annual rate of +17.1% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Turkmenistan (-2.6% per year) and Uzbekistan (-25.9% per year).

Import Prices by Country

The import price in Central Asia stood at $X per unit in 2021, with a decrease of -4.3% against the previous year. Over the period under review, the import price saw a pronounced decline. The most prominent rate of growth was recorded in 2018 when the import price increased by 19%. Over the period under review, import prices reached the maximum at $X per unit in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Uzbekistan ($X per unit), while Mongolia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Uzbekistan (+9.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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