HS Code:
The category of Musical Instruments; Parts and Accessories of Such Articles (HS Code: 92) encompasses a wide range of products including pianos, string instruments, wind instruments, percussion instruments, and their respective parts and accessories. This category includes both traditional and electronic musical instruments, reflecting a diverse market driven by cultural, educational, and entertainment demands globally. Trade in this category is influenced by craftsmanship, brand reputation, and technological advancements in instrument manufacturing.
Total Trade Volume
Approximately $7.5 billion USD
Data from 2022
Source
United Nations Comtrade Database and International Trade Centre (ITC)
$2.1 billion USD
28% of total trade of total trade
Increasing
$1.2 billion USD
16% of total trade of total trade
Stable
$850 million USD
11% of total trade of total trade
Increasing
$700 million USD
9% of total trade of total trade
Stable
$450 million USD
6% of total trade of total trade
Increasing
Average Rate
5.5% ad valorem
Highest Rate
15% (imposed by certain developing countries on luxury instruments)
Lowest Rate
0% (under free trade agreements or WTO bindings in developed markets)
Rising demand for electronic musical instruments
Increased exports of synthesizers and digital pianos, particularly from Japan and China, due to growing interest in music production and home studios.
2021-2022
Sustainability concerns in instrument production
Shift towards eco-friendly materials and ethical sourcing of wood, affecting supply chains in countries like Indonesia and Brazil.
2020-2022
Growth in online music education
Boost in demand for affordable instruments and accessories as more individuals learn music remotely, benefiting low-cost manufacturers.
2020-2023
The European Union tightened regulations on the import of rosewood used in musical instruments to combat illegal logging, requiring stricter documentation.
January 2023
Increased production costs and delays for manufacturers and exporters dealing with rosewood-based instruments.
A partial reduction in tariffs on musical instruments was included in the Phase One trade deal, easing export costs for Chinese manufacturers.
February 2020 (reviewed in 2022)
Boosted Chinese exports to the US market, maintaining China's position as the leading exporter.
Major instrument manufacturers partnered with digital platforms to integrate music learning apps with instrument purchases, driving sales of smart instruments.
Mid-2022
Increased market share for tech-savvy brands, especially from Japan and the US, in the electronic instrument segment.