Czech Republic: Accordion Market 2024

Accordion Market Size in the Czech Republic

The Czech accordion market soared to $X in 2021, with an increase of 42% 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 posted a strong expansion. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Accordion Exports

Exports from the Czech Republic

In 2021, accordion exports from the Czech Republic fell rapidly to X units, with a decrease of -22.2% against the previous year's figure. The total export volume increased at an average annual rate of +1.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when exports increased by 40% against the previous year. The exports peaked at X units in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, accordion exports contracted to $X in 2021. Overall, exports saw a noticeable reduction. The most prominent rate of growth was recorded in 2013 when exports increased by 16% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Germany (X units) was the main destination for accordion exports from the Czech Republic, accounting for a 38% share of total exports. Moreover, accordion exports to Germany exceeded the volume sent to the second major destination, Slovakia (X units), threefold. The third position in this ranking was taken by Poland (X units), with an 11% share.

From 2012 to 2021, the average annual growth rate of volume to Germany totaled +20.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovakia (+0.8% per year) and Poland (+19.0% per year).

In value terms, Germany ($X), Turkey ($X) and China ($X) appeared to be the largest markets for accordion exported from the Czech Republic worldwide, with a combined 37% share of total exports. Poland, Egypt, the United States, Slovakia, Hungary, Austria, Italy, Japan, Romania and South Korea lagged somewhat behind, together accounting for a further 48%.

Hungary, with a CAGR of +41.5%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average accordion export price stood at $X per unit in 2021, with an increase of 23% against the previous year. In general, the export price, however, saw a noticeable contraction. The export price peaked at $X per unit in 2012; however, from 2013 to 2021, 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 Egypt ($X per unit), while the average price for exports to Germany ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Slovakia (+7.6%), while the prices for the other major destinations experienced more modest paces of growth.

Accordion Imports

Imports into the Czech Republic

In 2021, approx. X units of accordions and mouth organs were imported into the Czech Republic; remaining stable against the previous year's figure. Overall, imports enjoyed resilient growth. The most prominent rate of growth was recorded in 2013 with an increase of 88%. Imports peaked at X units in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, accordion imports soared to $X in 2021. Over the period under review, imports recorded a prominent increase. The most prominent rate of growth was recorded in 2013 with an increase of 88%. Over the period under review, imports hit record highs in 2021 and are likely to see gradual growth in years to come.

Imports by Country

In 2021, Germany (X units) constituted the largest supplier of accordion to the Czech Republic, accounting for a 61% share of total imports. Moreover, accordion imports from Germany exceeded the figures recorded by the second-largest supplier, China (X units), fivefold. Austria (X units) ranked third in terms of total imports with a 5.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany totaled +20.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-1.4% per year) and Austria (+161.8% per year).

In value terms, Germany ($X) constituted the largest supplier of accordions and mouth organs to the Czech Republic, comprising 61% of total imports. The second position in the ranking was taken by France ($X), with an 11% share of total imports. It was followed by Austria, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany totaled +25.5%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+9.8% per year) and Austria (+189.9% per year).

Import Prices by Country

The average accordion import price stood at $X per unit in 2021, with an increase of 30% against the previous year. Overall, import price indicated perceptible growth from 2012 to 2021: its price increased at an average annual rate of +4.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, accordion import price increased by +108.5% against 2019 indices. The most prominent rate of growth was recorded in 2020 an increase of 61% against the previous year. Over the period under review, average import prices reached the maximum in 2021 and is likely to see gradual growth in years to come.

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 France ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Austria (+12.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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