Croatia: Percussion Musical Instrument Market 2024

Percussion Musical Instrument Market Size in Croatia

In 2022, the Croatian percussion musical instrument market was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. Overall, consumption saw resilient growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Percussion Musical Instrument Exports

Exports from Croatia

After two years of growth, overseas shipments of percussion musical instruments decreased by -1.8% to X units in 2022. Overall, exports, however, recorded a noticeable expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 170% against the previous year. Over the period under review, the exports attained the maximum 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, posted a buoyant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 137% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

Serbia (X units), Germany (X units) and Montenegro (X units) were the main destinations of percussion musical instrument exports from Croatia, with a combined 90% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Serbia (with a CAGR of +25.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for percussion musical instrument exported from Croatia were Serbia ($X), Germany ($X) and Montenegro ($X), together comprising 90% of total exports.

Among the main countries of destination, Serbia, with a CAGR of +32.9%, recorded the highest rates of growth with regard to 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 percussion musical instrument export price amounted to $X per unit, picking up by 18% against the previous year. Over the period under review, the export price posted a prominent expansion. The most prominent rate of growth was recorded in 2018 when the average export price increased by 97%. The export price peaked at $X per unit in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to North Macedonia ($X per unit) and Serbia ($X per unit), while the average price for exports to Bosnia and Herzegovina ($X per unit) and Taiwan (Chinese) ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+15.8%), while the prices for the other major destinations experienced more modest paces of growth.

Percussion Musical Instrument Imports

Imports into Croatia

In 2022, supplies from abroad of percussion musical instruments increased by 98% to X units, rising for the third consecutive year after two years of decline. Overall, imports recorded a strong increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, percussion musical instrument imports soared to $X in 2022. The total import value increased at an average annual rate of +3.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Germany (X units) constituted the largest supplier of percussion musical instrument to Croatia, accounting for a 37% share of total imports. Moreover, percussion musical instrument imports from Germany exceeded the figures recorded by the second-largest supplier, Slovenia (X units), threefold. The third position in this ranking was taken by the Netherlands (X units), with a 10% share.

From 2012 to 2022, the average annual growth rate of volume from Germany amounted to +21.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Slovenia (+21.1% per year) and the Netherlands (+25.9% per year).

In value terms, Germany ($X) constituted the largest supplier of percussion musical instruments to Croatia, comprising 37% of total imports. The second position in the ranking was taken by Slovenia ($X), with an 11% share of total imports. It was followed by the Netherlands, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany totaled +13.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Slovenia (+12.7% per year) and the Netherlands (+17.2% per year).

Import Prices by Country

The average percussion musical instrument import price stood at $X per unit in 2022, dropping by -30.2% against the previous year. In general, the import price saw a deep contraction. The growth pace was the most rapid in 2017 an increase of 18% against the previous year. Over the period under review, average import prices attained the peak figure at $X per unit in 2019; however, from 2020 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Taiwan (Chinese) ($X per unit) and Austria ($X per unit), while the price for Slovakia ($X per unit) and Slovenia ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (-5.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :