From 2013 to 2023, the import of musical instruments to Belgium exhibited considerable fluctuations. The period saw significant growth in 2016, followed by a notable decline in 2017. The values dropped even more substantially in 2021, and the import volume remained relatively flat from 2022 to 2023, standing at 339.32 thousand items in 2023. Over the last two years, the year-on-year variation showed slight increases of 1.53% in 2022 and 1.09% in 2023. The five-year CAGR indicates an average annual decrease of 4.89%.
The forecasted data from 2024 to 2028 suggests a modest steady increase, with a forecasted 5-year CAGR of 0.81% and a total forecasted growth rate of 4.14% by 2028. Future trends to watch include fluctuations in global supply chains, consumer demand for musical instruments, and potential shifts towards digital or electronic instruments which may influence import volumes and values.
