Slovakia: Accordion Market 2024

Accordion Market Size in Slovakia

In 2021, the Slovak accordion market was finally on the rise to reach $X after three years of decline. In general, consumption enjoyed a mild increase. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Accordion Exports

Exports from Slovakia

For the tenth consecutive year, Slovakia recorded growth in overseas shipments of accordions and mouth organs, which increased by 14% to X units in 2021. Over the period under review, exports showed significant growth. The growth pace was the most rapid in 2013 with an increase of 398%. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in years to come.

In value terms, accordion exports soared to $X in 2021. Overall, exports enjoyed a significant expansion. The pace of growth was the most pronounced in 2014 with an increase of 157% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are likely to see gradual growth in the near future.

Exports by Country

The Czech Republic (X units) was the main destination for accordion exports from Slovakia, accounting for a 43% share of total exports. Moreover, accordion exports to the Czech Republic exceeded the volume sent to the second major destination, Hungary (X units), threefold. Poland (X units) ranked third in terms of total exports with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the Czech Republic amounted to +43.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hungary (+50.1% per year) and Poland (+62.5% per year).

In value terms, the Czech Republic ($X) remains the key foreign market for accordions and mouth organs exports from Slovakia, comprising 36% of total exports. The second position in the ranking was held by Poland ($X), with a 15% share of total exports. It was followed by Hungary, with a 12% share.

From 2012 to 2021, the average annual growth rate of value to the Czech Republic totaled +32.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (+84.6% per year) and Hungary (+35.3% per year).

Export Prices by Country

In 2021, the average accordion export price amounted to $X per unit, surging by 20% against the previous year. In general, the export price, however, continues to indicate a deep contraction. The growth pace was the most rapid in 2014 an increase of 37%. 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 Germany ($X per unit), while the average price for exports to Hungary ($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 France (+17.7%), while the prices for the other major destinations experienced more modest paces of growth.

Accordion Imports

Imports into Slovakia

In 2021, accordion imports into Slovakia skyrocketed to X units, jumping by 40% compared with 2020. In general, total imports indicated a buoyant expansion from 2012 to 2021: its volume increased at an average annual rate of +12.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +42.2% against 2019 indices. The growth pace was the most rapid in 2013 with an increase of 57%. Over the period under review, imports attained the peak figure in 2021 and are likely to continue growth in the near future.

In value terms, accordion imports surged to $X in 2021. Over the period under review, imports showed strong growth. The growth pace was the most rapid in 2014 with an increase of 207%. Over the period under review, imports reached the maximum in 2021 and are likely to continue growth in years to come.

Imports by Country

Germany (X units), Austria (X units) and China (X units) were the main suppliers of accordion imports to Slovakia, together accounting for 65% of total imports. The Czech Republic, Belgium, Hungary, Italy and Japan lagged somewhat behind, together accounting for a further 26%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Belgium (with a CAGR of +1,131.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Austria ($X), Germany ($X) and Belgium ($X) were the largest accordion suppliers to Slovakia, with a combined 74% share of total imports.

Among the main suppliers, Belgium, with a CAGR of +2,282.2%, recorded 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

The average accordion import price stood at $X per unit in 2021, jumping by 29% against the previous year. Overall, the import price saw noticeable growth. The most prominent rate of growth was recorded in 2014 when the average import price increased by 160% against the previous year. Over the period under review, average import prices hit record highs in 2021 and is likely to see steady growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Austria ($X per unit), while the price for Hungary ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+94.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :