Pakistan: Percussion Musical Instrument Market 2024

Percussion Musical Instrument Market Size in Pakistan

The Pakistani percussion musical instrument market expanded notably to $X in 2022, with an increase of 5.9% against the previous year. In general, consumption, however, recorded a deep setback. Percussion musical instrument consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Percussion Musical Instrument Production in Pakistan

In value terms, percussion musical instrument production expanded rapidly to $X in 2022 estimated in export price. In general, production, however, recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2020 with an increase of 40% against the previous year. Percussion musical instrument production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Percussion Musical Instrument Exports

Exports from Pakistan

Percussion musical instrument exports from Pakistan rose sharply to X units in 2022, surging by 11% on the year before. Over the period under review, exports recorded a strong increase. The pace of growth appeared the most rapid in 2017 when exports increased by 308%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, percussion musical instrument exports surged to $X in 2022. In general, exports enjoyed buoyant growth. The most prominent rate of growth was recorded in 2017 with an increase of 275% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the near future.

Exports by Country

France (X units), Germany (X units) and the United States (X units) were the main destinations of percussion musical instrument exports from Pakistan, with a combined 73% share of total exports. The UK, the Netherlands, Canada, Ireland and Italy lagged somewhat behind, together accounting for a further 21%.

From 2012 to 2022, the biggest increases were recorded for Canada (with a CAGR of +34.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for percussion musical instrument exported from Pakistan were France ($X), Germany ($X) and the United States ($X), together accounting for 67% of total exports. The UK, the Netherlands, Canada, Ireland and Italy lagged somewhat behind, together comprising a further 25%.

Canada, with a CAGR of +34.2%, saw the highest rates of growth with regard to 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 percussion musical instrument export price stood at $X per unit in 2022, rising by 18% against the previous year. Over the last decade, it increased at an average annual rate of +1.3%. The most prominent rate of growth was recorded in 2020 an increase of 29%. As a result, the export price reached the peak level of $X per unit. From 2021 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 Canada ($X per unit), while the average price for exports to Italy ($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 the United States (+4.7%), while the prices for the other major destinations experienced more modest paces of growth.

Percussion Musical Instrument Imports

Imports into Pakistan

In 2022, supplies from abroad of percussion musical instruments increased by 26% to X units, rising for the third year in a row after two years of decline. Overall, imports saw notable growth. The most prominent rate of growth was recorded in 2017 when imports increased by 134%. Imports peaked in 2022 and are likely to see gradual growth in the near future.

In value terms, percussion musical instrument imports shrank dramatically to $X in 2022. In general, imports, however, continue to indicate a deep slump. The pace of growth appeared the most rapid in 2017 when imports increased by 125% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, the United Arab Emirates (X units) was the main percussion musical instrument supplier to Pakistan, with a 92% share of total imports. Moreover, percussion musical instrument imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, China (X units), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from the United Arab Emirates amounted to +18.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-18.0% per year) and the UK (+14.9% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of percussion musical instruments to Pakistan, comprising 73% of total imports. The second position in the ranking was held by China ($X), with a 21% share of total imports.

From 2012 to 2022, the average annual growth rate of value from the United Arab Emirates totaled +6.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-15.2% per year) and the UK (+15.1% per year).

Import Prices by Country

In 2022, the average percussion musical instrument import price amounted to $X per unit, with a decrease of -35.1% against the previous year. In general, the import price continues to indicate a drastic downturn. The growth pace was the most rapid in 2016 an increase of 49% against the previous year. As a result, import price attained the peak level of $X per unit. From 2017 to 2022, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per unit), while the price for the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+3.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :