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Armenia Musical Instrument Industry Outlook 2021

See how Armenia Musical Instrument performed compared to key markets such as China, Germany and the United States.

Key Market Indicators

Armenia's exports of musical instruments have dropped by 20.2% in 2021, to $5.3 million, compared to the previous year. This is a 20.6% decline since 2002. Armenia now ranks 109th in the world, behind Guyana, which exports $5.3 million worth of musical instruments. Germany, the United States and Japan are the 2nd, 3rd and 4th largest exporters, respectively. Imports of musical instruments to Armenia are expected to reach $1.09 million by 2026, from $920,390 in 2021, a 2.9% year-on-year increase. Since 2002, Armenia's demand for musical instruments has grown 7.5% every year. In 2021, Armenia is 97th in the world for imports, behind Mongolia, which imports $920,390 worth of musical instruments. Germany, China and Japan are the 2nd, 3rd and 4th biggest importers, respectively.

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Armenia Musical Instrument Market Data and Forecasts

How much will Armenia Musical Instrument Market grow?

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