2022
Exports
$3.37MWorld Rnk 34 / 166
Flag Rnk 697 / 1208
2022
PRODUCT COMPLEXITY IN Musical Instrument Parts
1.19Rnk 106 / 1025
2022
Imports
$34.7MWorld Rnk 13 / 204
Flag Rnk 571 / 1206
2022
ECONOMIC COMPLEXITY of Australia
-0.24Rnk 78 / 133

About

Exports In 2022, Australia exported $3.37M in Musical Instrument Parts, making it the 34th largest exporter of Musical Instrument Parts in the world. At the same year, Musical Instrument Parts was the 697th most exported product in Australia. The main destination of Musical Instrument Parts exports from Australia are: United States ($729k), New Zealand ($653k), Japan ($350k), Hong Kong ($300k), and United Kingdom ($180k).

The fastest growing export markets for Musical Instrument Parts of Australia between 2021 and 2022 were Japan ($288k), Hong Kong ($265k), and United States ($220k).

Imports In 2022, Australia imported $34.7M in Musical Instrument Parts, becoming the 13th largest importer of Musical Instrument Parts in the world. At the same year, Musical Instrument Parts was the 571st most imported product in Australia. Australia imports Musical Instrument Parts primarily from: China ($11.9M), United States ($11.7M), Germany ($2.23M), Chinese Taipei ($1.41M), and Malaysia ($1.25M).

The fastest growing import markets in Musical Instrument Parts for Australia between 2021 and 2022 were China ($5.63M), United States ($1.51M), and Malaysia ($484k).

COMPANIES In 2023, leading companies such as Ford Motor Company (3) were at the forefront of shipping Musical Instrument Parts from Australia to the United States.

Latest Trends

Oct 2024

Subnational Monthly Trade

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Flow
Y-AXIS SCALE

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

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

* Using January 2020 exchange rates when trade data is reported in local currency.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$3.37M
IMPORTS (2022)$34.7M
NET TRADE (2022)-$31.3M

In 2022, Australia exported $3.37M in Musical Instrument Parts. The main destinations of Australia exports on Musical Instrument Parts were United States ($729k), New Zealand ($653k), Japan ($350k), Hong Kong ($300k), and United Kingdom ($180k).

In 2022, Australia imported $34.7M in Musical Instrument Parts, mainly from China ($11.9M), United States ($11.7M), Germany ($2.23M), Chinese Taipei ($1.41M), and Malaysia ($1.25M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Musical Instrument Parts EXPORT MARKETS FOR Australia WERE (2021 - 2022):
Japan$288k (465%)
Hong Kong$265k (758%)
United States$220k (43.2%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Musical Instrument Parts BY Australia WERE (2021 - 2022):
United Kingdom-$126k (-41.1%)
Singapore-$50.6k (-73.9%)
Papua New Guinea-$41.8k (-22.4%)

Change in Exports by Market (2021 - 2022)

Market Concentration

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Flow
Type
In 2022, Australia's main exporting competitors in Musical Instrument Parts were:
In 2022, Australia's main importing competitors in Musical Instrument Parts were:

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Trade Value of Musical Instrument Parts by Exporters

Potential Exports

Potential Exports

Flow
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TOP EXPORT POTENTIALUnited States+ $326k
TOP IMPORT POTENTIALChina+ $1.04M

Musical Instrument Parts’s highest export potential is United States. With an export gap of $326k.   Musical Instrument Parts’s highest import potential is China with an import gap of $1.04M.

See methodology.

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