Ethiopia: Electrical Musical Instrument Market 2024

Electrical Musical Instrument Market Size in Ethiopia

The Ethiopian electrical musical instrument market reduced remarkably to $X in 2022, waning by X% 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). Overall, consumption recorded a abrupt decline. Electrical musical instrument consumption peaked at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Electrical Musical Instrument Exports

Exports from Ethiopia

In 2022, electrical musical instrument exports from Ethiopia dropped dramatically to X units, with a decrease of X% against 2021 figures. In general, exports showed a abrupt decrease. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. As a result, the exports reached the peak of X units, and then dropped markedly in the following year.

In value terms, electrical musical instrument exports fell remarkably to $X in 2022. Overall, exports continue to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

Tanzania (X units), Kenya (X units) and Switzerland (X units) were the main destinations of electrical musical instrument exports from Ethiopia, with a combined X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Switzerland (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for electrical musical instrument exported from Ethiopia were Tanzania ($X), Switzerland ($X) and Belgium ($X), with a combined X% share of total exports.

Among the main countries of destination, Tanzania, with a CAGR of X%, saw the highest growth rate of 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

The average electrical musical instrument export price stood at $X per unit in 2022, growing by X% against the previous year. Overall, the export price, however, continues to indicate a mild reduction. The pace of growth was the most pronounced in 2019 when the average export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2020 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Tanzania ($X per unit), while the average price for exports to India ($X per unit) was amongst the lowest.

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

Electrical Musical Instrument Imports

Imports into Ethiopia

For the fifth year in a row, Ethiopia recorded decline in overseas purchases of electrical musical or keyboard instruments, which decreased by X% to X units in 2022. Overall, imports recorded a deep contraction. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at X units in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, electrical musical instrument imports contracted remarkably to $X in 2022. In general, imports recorded a abrupt decline. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of electrical musical instrument to Ethiopia, accounting for a X% share of total imports. Moreover, electrical musical instrument imports from China exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X units), fourfold. Japan (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (X% per year) and Japan (X% per year).

In value terms, China ($X) constituted the largest supplier of electrical musical or keyboard instruments to Ethiopia, comprising X% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a X% share of total imports. It was followed by Japan, with a X% share.

From 2012 to 2022, the average annual growth rate of value from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (X% per year) and Japan (X% per year).

Import Prices by Country

In 2022, the average electrical musical instrument import price amounted to $X per unit, rising by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2014 an increase of X% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Malaysia ($X per unit) and Denmark ($X per unit), while the price for Switzerland ($X per unit) and France ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform