Middle East: Accordion Market 2024

Accordion Market Size in the Middle East

The Middle Eastern accordion market dropped sharply to $X in 2021, which is down by -43.8% against the previous year. In general, consumption, however, saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market remained at a somewhat lower figure.

Accordion Production in the Middle East

In value terms, accordion production reduced modestly to $X in 2021 estimated in export price. Overall, production showed a dramatic shrinkage. The pace of growth was the most pronounced in 2014 with an increase of 275%. The level of production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Accordion Exports

Exports in the Middle East

In 2021, shipments abroad of accordions and mouth organs increased by 36% to X units, rising for the second consecutive year after two years of decline. Overall, exports enjoyed a notable increase. The most prominent rate of growth was recorded in 2017 with an increase of 133% 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 surged to $X in 2021. Over the period under review, exports enjoyed pronounced growth. The most prominent rate of growth was recorded in 2020 with an increase of 262%. The level of export peaked in 2021 and is likely to see steady growth in years to come.

Exports by Country

Turkey was the main exporting country with an export of about X units, which accounted for 75% of total exports. The United Arab Emirates (X units) held the second position in the ranking, followed by Israel (X units). All these countries together took approx. 20% share of total exports. The following exporters - Lebanon (X units) and Oman (X units) - together made up 4.4% of total exports.

From 2012 to 2021, average annual rates of growth with regard to accordion exports from Turkey stood at +19.8%. 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 the Middle East, 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. While the share of Turkey (+56 p.p.) and Oman (+1.7 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of the United Arab Emirates (-57.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Israel ($X) emerged as the largest accordion supplier in the Middle East, comprising 54% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 27% share of total exports. It was followed by Turkey, with a 16% share.

In Israel, accordion exports increased at an average annual rate of +9.5% over the period from 2012-2021. 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

In 2021, the export price in the Middle East amounted to $X per unit, dropping by -4.7% against the previous year. Over the period under review, the export price, however, saw a slight expansion. The pace of growth appeared the most rapid in 2018 an increase of 62% against the previous year. Over the period under review, the export prices hit record highs at $X per unit in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, 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 the Middle East

Accordion imports reduced markedly to X units in 2021, declining by -71.8% against the previous year's figure. In general, imports, however, posted perceptible growth. The pace of growth was the most pronounced in 2017 with an increase of 107%. As a result, imports attained the peak of X units. From 2018 to 2021, the growth of imports remained at a lower figure.

In value terms, accordion imports declined remarkably to $X in 2021. Over the period under review, imports saw a noticeable decline. The growth pace was the most rapid in 2017 when imports increased by 27% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, Turkey (X units) was the largest importer of accordions and mouth organs, comprising 69% of total imports. The United Arab Emirates (X units) took the second position in the ranking, followed by Israel (X units). All these countries together took approx. 15% share of total imports. The following importers - Iraq (X units), Palestine (X units) and Oman (X units) - together made up 11% of total imports.

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%) and the United Arab Emirates (+11.4%) displayed positive paces of growth. Moreover, Iraq emerged as the fastest-growing importer imported in the Middle East, 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, +3.7 and +3.3 percentage points, respectively.

In value terms, the largest accordion importing markets in the Middle East were Israel ($X), Turkey ($X) and the United Arab Emirates ($X), together accounting for 75% of total imports. These countries were followed by Iraq, Oman and Palestine, which together accounted for a further 15%.

Among the main importing countries, Iraq, with a CAGR of +18.0%, saw the highest rates of growth with regard to 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 the Middle East amounted to $X per unit, increasing by 118% against the previous year. Over the period under review, the import price, however, continues to indicate a abrupt descent. Over the period under review, import prices reached the maximum at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, 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

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