Chile: Accordion Market 2024

Accordion Market Size in Chile

In 2021, the Chilean accordion market increased by 292% to $X for the first time since 2017, thus ending a three-year declining trend. Overall, consumption, however, recorded a noticeable decline. Over the period under review, the market attained the peak level at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Accordion Exports

Exports from Chile

In 2021, approx. X units of accordions and mouth organs were exported from Chile; reducing by -29.3% against the previous year's figure. In general, exports saw a precipitous descent. The most prominent rate of growth was recorded in 2017 when exports increased by 54%. The exports peaked at X units in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, accordion exports declined slightly to $X in 2021. Over the period under review, exports saw a precipitous decline. The pace of growth appeared the most rapid in 2017 with an increase of 33%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Bolivia (X units) was the main destination for accordion exports from Chile, accounting for a 65% share of total exports. Moreover, accordion exports to Bolivia exceeded the volume sent to the second major destination, Peru (X units), sixfold. The UK (X units) ranked third in terms of total exports with an 8.5% share.

From 2012 to 2021, the average annual growth rate of volume to Bolivia amounted to -28.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Peru (-26.0% per year) and the UK (-6.1% per year).

In value terms, Bolivia ($X) remains the key foreign market for accordions and mouth organs exports from Chile, comprising 66% of total exports. The second position in the ranking was taken by Peru ($X), with a 12% share of total exports. It was followed by the United States, with a 7.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Bolivia stood at -24.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Peru (-21.7% per year) and the United States (-21.3% per year).

Export Prices by Country

The average accordion export price stood at $X per unit in 2021, growing by 40% against the previous year. Overall, export price indicated a remarkable increase from 2012 to 2021: its price increased at an average annual rate of +5.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, accordion export price decreased by -5.9% against 2019 indices. The most prominent rate of growth was recorded in 2014 an increase of 49%. Over the period under review, the average export prices attained the maximum at $X per unit in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major overseas markets. In 2021, amid the top suppliers, the highest price was recorded for prices to Paraguay ($X per unit) and the United States ($X per unit), while the average price for exports to the UK ($X per unit) and Peru ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Venezuela (+11.5%), while the prices for the other major destinations experienced more modest paces of growth.

Accordion Imports

Imports into Chile

In 2021, purchases abroad of accordions and mouth organs was finally on the rise to reach X units for the first time since 2017, thus ending a three-year declining trend. Overall, imports, however, continue to indicate a abrupt downturn. Imports peaked at X units in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, accordion imports skyrocketed to $X in 2021. In general, imports, however, showed a abrupt decline. Over the period under review, imports attained the peak figure at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X units) constituted the largest supplier of accordion to Chile, accounting for a 54% share of total imports. Moreover, accordion imports from China exceeded the figures recorded by the second-largest supplier, Italy (X units), fourfold. Germany (X units) ranked third in terms of total imports with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at -10.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+23.1% per year) and Germany (-4.3% per year).

In value terms, China ($X) constituted the largest supplier of accordions and mouth organs to Chile, comprising 64% of total imports. The second position in the ranking was taken by Germany ($X), with a 13% share of total imports. It was followed by the United States, with an 11% share.

From 2012 to 2021, the average annual growth rate of value from China stood at -8.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-1.9% per year) and the United States (+7.2% per year).

Import Prices by Country

The average accordion import price stood at $X per unit in 2021, falling by -54.8% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 an increase of 42% against the previous year. As a result, import price attained the peak level of $X per unit. From 2020 to 2021, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per unit), while the price for Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+2.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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