MENA: Accordion Market 2024

Accordion Market Size in MENA

The MENA's accordion market contracted significantly to $X in 2021, dropping by -47% against the previous year. In general, consumption continues to indicate a relatively flat trend pattern. The level of consumption peaked at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Accordion Production in MENA

In value terms, accordion production surged to $X in 2021 estimated in export price. Over the period under review, production, however, faced a sharp shrinkage. The most prominent rate of growth was recorded in 2014 with an increase of 275% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Accordion Exports

Exports in MENA

In 2021, shipments abroad of accordions and mouth organs increased by 31% to X units, rising for the second consecutive year after two years of decline. In general, exports showed a pronounced expansion. The growth pace was the most rapid in 2020 when exports increased by 139% against the previous year. The volume of export peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, accordion exports soared to $X in 2021. Over the period under review, exports recorded a measured expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 265% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in the near future.

Exports by Country

In 2021, Turkey (X units) was the key exporter of accordions and mouth organs, making up 74% of total exports. The United Arab Emirates (X units) held a 12% share (based on physical terms) of total exports, which put it in second place, followed by Israel (8%). The following exporters - Lebanon (X units) and Oman (X units) - together made up 4.4% of total exports.

Exports from Turkey increased at an average annual rate of +19.8% from 2012 to 2021. At the same time, Oman (+35.2%), Lebanon (+6.9%) and Israel (+3.7%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in MENA, with a CAGR of +35.2% from 2012-2021. By contrast, the United Arab Emirates (-15.5%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Turkey and Oman increased by +56 and +1.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Israel ($X) emerged as the largest accordion supplier in MENA, comprising 54% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 27% share of total exports. It was followed by Turkey, with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Israel amounted to +9.5%. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (-1.6% per year) and Turkey (+5.6% per year).

Export Prices by Country

The export price in MENA stood at $X per unit in 2021, waning by -2.9% against the previous year. In general, the export price, however, saw a modest expansion. The most prominent rate of growth was recorded in 2020 when the export price increased by 53% against the previous year. Over the period under review, the export prices reached the maximum at $X per unit in 2015; however, from 2016 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Israel ($X per unit), while Turkey ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+16.4%), while the other leaders experienced mixed trends in the export price figures.

Accordion Imports

Imports in MENA

Accordion imports reduced remarkably to X units in 2021, with a decrease of -71.4% on the year before. Overall, imports, however, recorded pronounced growth. The most prominent rate of growth was recorded in 2017 with an increase of 104%. As a result, imports reached the peak of X units. From 2018 to 2021, the growth of imports remained at a lower figure.

In value terms, accordion imports declined notably to $X in 2021. In general, imports continue to indicate a noticeable setback. The most prominent rate of growth was recorded in 2016 when imports increased by 33%. The level of import peaked at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Turkey dominates imports structure, accounting for X units, which was near 67% of total imports in 2021. The United Arab Emirates (X units) ranks second in terms of the total imports with a 9.8% share, followed by Israel (5%). Iraq (X units), Palestine (X units), Morocco (X units) and Oman (X units) followed a long way behind the leaders.

Imports into Turkey increased at an average annual rate of +7.4% from 2012 to 2021. At the same time, Iraq (+29.1%), Palestine (+23.4%), the United Arab Emirates (+11.4%) and Morocco (+6.2%) displayed positive paces of growth. Moreover, Iraq emerged as the fastest-growing importer imported in MENA, with a CAGR of +29.1% from 2012-2021. By contrast, Israel (-5.1%) and Oman (-12.1%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Turkey, the United Arab Emirates, Iraq and Palestine increased by +15, +4.4, +3.6 and +3.2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest accordion importing markets in MENA were Israel ($X), Turkey ($X) and the United Arab Emirates ($X), together accounting for 71% of total imports. These countries were followed by Iraq, Oman, Morocco and Palestine, which together accounted for a further 17%.

In terms of the main importing countries, Iraq, with a CAGR of +18.0%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in MENA amounted to $X per unit, picking up by 104% against the previous year. Over the period under review, the import price, however, continues to indicate a abrupt descent. The level of import peaked at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Israel ($X per unit), while Palestine ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Oman (+9.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform