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2022
Exports $831MWorld Rnk 4 / 200
Flag Rnk 78 / 96
2022
Destination $20M Canada
2021 - 2022
FASTEST GROWING MARKET $20MCanada
2022
PRODUCT COMPLEXITY IN Musical instruments1.43Rnk 66 / 1025
2022
Imports $1.91BWorld Rnk 1 / 224
Flag Rnk 79 / 96
2022
Origin $75.2M China
2021 - 2022
FASTEST GROWING ORIGIN $75.2MIndonesia
2022
ECONOMIC COMPLEXITY of United States1.47Rnk 10 / 133

About

Exports In 2022, United States exported $831M in Musical instruments, making it the 4th largest exporter of Musical instruments in the world. At the same year, Musical instruments was the 78th most exported product in United States. The main destination of Musical instruments exports from United States are: Canada ($105M), Japan ($94.8M), United Kingdom ($78.5M), Germany ($75.2M), and Netherlands ($71.5M).

The fastest growing export markets for Musical instruments of United States between 2021 and 2022 were Canada ($20M), United Kingdom ($16.1M), and Australia ($6.69M).

Imports In 2022, United States imported $1.91B in Musical instruments, becoming the 1st largest importer of Musical instruments in the world. At the same year, Musical instruments was the 79th most imported product in United States. United States imports Musical instruments primarily from: China ($715M), Indonesia ($285M), Japan ($161M), Mexico ($135M), and Chinese Taipei ($101M).

The fastest growing import markets in Musical instruments for United States between 2021 and 2022 were Indonesia ($75.2M), Mexico ($71M), and China ($44.8M).

COMPANIES In 2023, leading companies such as Itourscm (396), CrimsonLogic (393), and Goldensee Limited (124) were at the forefront of shipping Musical instruments to the United States.

Latest Trends

August 2024

About

Overview In August 2024 United States' Musical instruments exports accounted up to $77.3M and imports accounted up to $143M, resulting in a negative trade balance of $65.7M. Between August 2023 and August 2024 the exports of United States'   Musical instruments have decreased by $-135k (-0.17%) from $77.5M to $77.3M, while imports decreased by $-4.64M (-3.14%) from $148M to $143M.

Destinations In August 2024, Musical instruments were exported mostly to Netherlands ($13.6M), Canada ($10.7M), Japan ($9.49M), Germany ($5.54M), and United Kingdom ($4.86M), and were imported mostly from China ($58.3M), Indonesia ($18.7M), Mexico ($12.4M), Malaysia ($10.8M), and Japan ($10.5M).

Growth In August 2024, the decrease in Musical instruments's year-by-year exports was explained primarily by a decrease in exports to Hong Kong ($-1.14M or -37.6%), Australia ($-802k or -26%), and Mexico ($-670k or -24.8%). In August 2024, the decrease in Musical instruments's year-by-year imports was explained primarily by a decrease in imports from China ($-10.1M or -19.3%), Indonesia ($-3.09M or -12.1%), and Mexico ($-2.58M or -23.4%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (August 2023 - August 2024)$-135k(-0.17%)
IMPORT GROWTH (August 2023 - August 2024)$-4.64M(-3.14%)
MAIN EXPORTER (August 2024)California$33.3M
MAIN DESTINATION (August 2024)Netherlands$13.6M

This section shows Musical instruments's exports and imports data at subnational level for United States. Click any date in the line plot, any subnational region in the geomap, or any destination or origin country to explore the exports or imports behavior of Musical instruments over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$831M
IMPORTS (2022)$1.91B
NET TRADE (2022)-$1.08B

In 2022, United States exported $831M in Musical instruments. The main destinations of United States exports on Musical instruments were Canada ($105M), Japan ($94.8M), United Kingdom ($78.5M), Germany ($75.2M), and Netherlands ($71.5M).

In 2022, United States imported $1.91B in Musical instruments, mainly from China ($715M), Indonesia ($285M), Japan ($161M), Mexico ($135M), and Chinese Taipei ($101M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Musical instruments EXPORT MARKETS FOR United States WERE (2021 - 2022):
Canada$20M (23.5%)
United Kingdom$16.1M (25.8%)
Australia$6.69M (15.3%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Musical instruments BY United States WERE (2021 - 2022):
Japan-$10.7M (-10.2%)
Russia-$4.68M (-71.6%)
Chile-$4.46M (-43.7%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, United States's main exporting competitors in Musical instruments were:
China $2.53B
Indonesia $1.08B
Germany $1.01B
In 2022, United States's main importing competitors in Musical instruments were:
Germany $876M
China $615M

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Trade Value of Musical instruments by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $11.8M
TOP IMPORT POTENTIALCanada+ $19.3M

Musical instruments’s highest export potential is China. With an export gap of $11.8M.   Musical instruments’s highest import potential is Canada with an import gap of $19.3M.

See methodology.

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