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Musical instruments; parts and accessories of such articles

92 (Harmonized System 1992 for 2-digit)

2023
World Trade $7.77BRnk 87 / 96
2023
Top Exporter | Top Importer $2.16B | $1.63BChina | United States
2023
Product Complexity 1.4Rnk 7 / 96
2022 - 2023
Export Growth (CAGR) -11.2%Rnk 72 / 96
2023
Share of World Trade 0.034%Rnk 87 / 96

About

Overview This page contains the latest trade data of Musical instruments. In 2023, Musical instruments were the world's 87th most traded product, with a total trade of $7.77B. Between 2022 and 2023 the exports of Musical instruments decreased by -11.2%, from $8.75B to $7.77B. Trade in Musical instruments represent 0.034% of total world trade.

Musical instruments are a part of Instruments. They include Electric Musical Instruments, Musical Instrument Parts, Pianos, String Instruments, Wind Instruments, Percussion, Other Musical Instruments, Accordions, and Pipe Organs.

Exports In 2023 the top exporters of Musical instruments  were China ($2.16B), Indonesia ($1.03B), United States ($864M), Germany ($753M), and Japan ($675M).

Imports In 2023 the top importers of Musical instruments were United States ($1.63B), Germany ($746M), China ($540M), Japan ($492M), and France ($360M).

Ranking Musical instruments ranks 7th in the Product Complexity Index (PCI).

Latest Trends

Latest Data

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Y-AXIS SCALE

The following visualization shows the latest trends on Musical instruments. Countries are shown based on data availability.

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

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* Trade values are converted to USD using each month's exchange rate. For December 2023 data, the exchange rate from December 30, 2023 is used.

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Historical Data

Exporters and Importers

Top Origin (2023)China$2.16B
Top Destination (2023)United States$1.63B

In 2023 Musical instruments were the world's 87th most traded product (out of 96).

In 2023, the top exporters of Musical instruments were China ($2.16B), Indonesia ($1.03B), United States ($864M), Germany ($753M), and Japan ($675M).

In 2023, the top importers of Musical instruments were United States ($1.63B), Germany ($746M), China ($540M), Japan ($492M), and France ($360M).

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Exporters of Musical instruments (2023)
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Importers of Musical instruments (2023)
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Market Dynamics

Color
Top Origin Growth (2022 -  2023)France$18.5M
Top Destination Growth (2022 -  2023)Russia$28.1M

Between 2022 and 2023, the exports of Musical instruments grew the fastest in France ($18.5M), United States ($15M), Italy ($10.7M), Armenia ($6.41M), and India ($5.58M).

Between 2022 and 2023, the fastest growing importers of Musical instruments were Russia ($28.1M), Netherlands ($21.8M), Kazakhstan ($21.5M), Austria ($17.5M), and Turkey ($13.6M).

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Exporters of Musical instruments (2022 - 2023)

Importers of Musical instruments (2022 - 2023)

Market Concentration

Value

This chart shows the evolution of the market concentration of exports of Musical instruments.

In 2023, market concentration measured using Shannon Entropy, was 3.79. This means that most of the exports of Musical instruments are explained by 13 countries.

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Value of Exports in Musical instruments

Net Trade

TOP NET EXPORTER (2023)China$1.62B
TOP NET IMPORTER (2023)United States$765M

This map shows which countries export or import more of Musical instruments. Each country is colored based on the difference in exports and imports of Musical instruments during 2023.

In 2023, the countries that had a largest trade value in exports than in imports of Musical instruments were China ($1.62B), Indonesia ($880M), Japan ($183M), Chinese Taipei ($138M), and Malaysia ($132M).

In 2023, the countries that had a largest trade value in imports than in exports of Musical instruments were United States ($765M), United Kingdom ($256M), Australia ($173M), Canada ($163M), and France ($127M).

Net Trade (2023)

Disaggregation

Value
Disaggregation

In 2023, the world most traded Musical instruments, disaggragated by their HS6 level were Electric Musical Instruments ($2.83B), Musical Instrument Parts ($1.59B), Pianos ($926M), String Instruments ($908M), and Wind Instruments ($888M)

HS6 Disaggregation for Musical instruments (2023)
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Country Comparison

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Ranking

This visualization shows the countries that have an important ratio of their trade related to Musical instruments.
It is possible to select the main countries that export or import Musical instruments in the world, or by continent, as well as select the measure of interest.

Top 10 Exporters Countries of Musical instruments by percentage of total exports

Potential Exports

Potential Exports

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TOP EXPORT POTENTIALIndia+ $25.6M
TOP IMPORT POTENTIALIndonesia+ $21.5M

Musical instruments’s highest export potential is India. With an export gap of $25.6M.  Musical instruments’s highest import potential is Indonesia with an import gap of $21.5M.

See methodology.

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Product Complexity

Diversification Frontier

Specialization

The Complexity-Relatedness diagram compares the risk and the strategic value of a product's potential export opportunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth potential, lower income inequality, and lower emissions.

Relatedness vs Country Complexity (2023)

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