Report Update Nov 1, 2024

Cuba - Electrical Musical or Keyboard Instruments - Market Analysis, Forecast, Size, Trends and Insights

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Cuba: Electrical Musical Instrument Market 2024

Electrical Musical Instrument Market Size in Cuba

In 2021, the Cuban electrical musical instrument market decreased by -21.1% to $X, falling for the fourth consecutive year after two years of growth. Over the period under review, consumption recorded a deep slump. Over the period under review, the market reached the maximum level at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Electrical Musical Instrument Exports

Exports from Cuba

In 2019, the amount of electrical musical or keyboard instruments exported from Cuba skyrocketed to X kg, increasing by 333% against 2018 figures. Overall, exports, however, recorded a precipitous contraction. Over the period under review, the exports attained the maximum at X kg in 2012; however, from 2013 to 2019, the exports remained at a lower figure.

In value terms, electrical musical instrument exports skyrocketed to $X in 2019. Over the period under review, exports, however, continue to indicate a abrupt descent. The exports peaked at $X in 2012; however, from 2013 to 2019, the exports remained at a lower figure.

Exports by Country

Angola (X kg) was the main destination for electrical musical instrument exports from Cuba, accounting for a approx. 100% share of total exports.

From 2012 to 2019, the average annual rate of growth in terms of volume to Angola was relatively modest.

In value terms, Angola ($X) emerged as the key foreign market for electrical musical or keyboard instruments exports from Cuba.

From 2012 to 2019, the average annual growth rate of value to Angola was relatively modest.

Export Prices by Country

In 2019, the average electrical musical instrument export price amounted to $X per ton, surging by 101% against the previous year. Over the period under review, the export price continues to indicate a prominent increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for Angola.

From 2012 to 2019, the rate of growth in terms of prices for the Netherlands amounted to -19.2% per year.

Electrical Musical Instrument Imports

Imports into Cuba

In 2021, overseas purchases of electrical musical or keyboard instruments decreased by -24.7% to X tons, falling for the fourth consecutive year after two years of growth. In general, imports continue to indicate a abrupt decline. The pace of growth appeared the most rapid in 2016 when imports increased by 376%. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, electrical musical instrument imports skyrocketed to $X in 2021. Overall, imports recorded a deep contraction. The pace of growth was the most pronounced in 2016 with an increase of 85% against the previous year. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) was the main electrical musical instrument supplier to Cuba, accounting for a 93% share of total imports. It was followed by Canada (X kg), with a 2.7% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from China stood at -4.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (-2.3% per year) and Spain (+0.2% per year).

In value terms, China ($X) constituted the largest supplier of electrical musical or keyboard instruments to Cuba, comprising 94% of total imports. The second position in the ranking was held by Canada ($X), with a 1.5% share of total imports.

From 2012 to 2021, the average annual growth rate of value from China stood at -10.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (-24.4% per year) and Spain (-13.1% per year).

Import Prices by Country

In 2021, the average electrical musical instrument import price amounted to $X per ton, increasing by 71% against the previous year. In general, the import price, however, recorded a abrupt shrinkage. The pace of growth was the most pronounced in 2014 when the average import price increased by 113%. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was China ($X per ton), while the price for Canada ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (-5.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for electrical musical or keyboard instruments in the world?

The countries with the highest volumes of in 2021 were China, the United States and the Netherlands, with a combined 33% share of global consumption.

What are the largest producers of electrical musical or keyboard instruments in the world?

China remains the largest electrical musical instrument producing country worldwide, comprising approx. 38% of total volume. Moreover, electrical musical instrument production in China exceeded the figures recorded by the second-largest producer, Indonesia, threefold. The Netherlands ranked third in terms of total production with a 10% share.

What are the leading suppliers of electrical musical or keyboard instruments to Cuba?

In value terms, China constituted the largest supplier of electrical musical instrument to Cuba, comprising 94% of total imports. The second position in the ranking was occupied by Canada $723), with a 1.2% share of total imports.

What is the average export price for electrical musical or keyboard instruments in Cuba?

In 2018, the average electrical musical instrument export price amounted to $30,333 per ton, stabilizing at the previous year.

What is the average import price for electrical musical or keyboard instruments in Cuba?

The average electrical musical instrument import price stood at $1,141 per ton in 2021, increasing by 21% against the previous year.

This report provides an in-depth analysis of the electrical musical instrument market in Cuba. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 32201400 - Musical or keyboard instruments, the sound of which is produced, or must be amplified, electrically

Country coverage:

Cuba

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Cuba
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023