The import of pianos, harpsichords, and keyboard string instruments to Brazil has shown a significant downward trend from 2013 to 2023, with a peak value in 2013 and a steady decline thereafter. The current value in 2023 is 1.3147 million USD. Notable year-on-year variations include a significant drop of 31.78% in 2014, a steep decline of 49.74% in 2016, and a sharp recovery of 60.34% in 2017. Over the last two years (2022-2023), the imports have decreased by approximately 6.73% annually. The Compound Annual Growth Rate (CAGR) over the last five years is -6.28%.
The forecast for the next five years (2024-2028) suggests a continued decline with an estimated negative CAGR of -7.51%, which translates to an overall reduction of about 32.31% by 2028. This indicates a persistent downtrend in the import market.
Future trends to watch for include changes in consumer preferences, economic fluctuations, and policy changes impacting international trade. Additionally, the rise of digital and electronic alternatives may further impact the demand for traditional keyboard string instruments.
