The import of pianos, harpsichords, and other keyboard string instruments to Egypt has shown significant variation over the past decade, peaking in 2015 and gradually declining thereafter. Although the import value stood at 176.21 thousand US dollars in 2023, it has steadily decreased year-on-year from its peak in 2015. Over the last two years, the year-on-year variations were -2.94% in 2022 and -2.97% in 2023. The Compound Annual Growth Rate (CAGR) over the past five years was -4.09%, indicating a gradual downturn in import values. Forecasted figures suggest a continued decline, with a five-year CAGR of -2.76%, leading to a projected value of 148.04 thousand US dollars by 2028.
Future trends to watch for:
- Economic and currency fluctuations in Egypt impacting import costs.
- Shifts in consumer preferences and the demand for pianos and related instruments.
- Potential changes in import tariffs and trade policies that could influence import volumes.