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Slovakia: Other Musical Instruments 2014-2024

  • ID: 5247474
  • Report
  • December 2020
  • Region: Slovakia
  • 30 pages
  • Financial Trends
UP TO OFF
until May 31st 2021
Extract Knowledge and Insights from Data with this Report.
A new edition of the report - Market Intelligence - Slovakia: Other musical instruments -, was published, and forecasts the market evolution at an average annual rate of -0.86% to the level of 980 thousand euro in 2024.



The purpose of this edition is to better reflect the current landscape of the Slovak market of the product'' Other musical instruments'' , emphasizing the explanation of the results for the historical evaluation of the demand, supply and prices with the help of quantitative models and on the presentation of the results of the forecast of the demand, supply and prices, for the next 5 years.

The report is divided into three sections: Supply, Demand and Price. The period covered in the report is 2014-2024 and it:
  • Combines the explanations and interpretation of the analysis results in written form (text) with the support of graphical methods specific to explanatory analysis to maximize information understanding.
  • Documents the historical analysis in terms of quantitative modeling of data to reach the most hidden conclusions.
  • Presents and explains the results of the estimates from the central scenario that include the impact of macroeconomic shocks at national and international level, along with the confidence intervals of ± 95%.
Section 1 - Supply

The first part of this chapter contains the detailed historical analysis, segmented on the two destination markets of the products, the domestic market and the non-domestic market (exports). In the second part of this chapter we have included the presentation and explanation of the results of our forecast models. Also, the results are divided into destination markets of the products, the domestic market and non-domestic market (exports).

Section 2 - Demand
The first part of this chapter includes the detailed historical analysis, segmented on the two markets of origin of the products, the domestic market and the non-domestic market (imports). In the second part of this chapter we have included the analysis of the demand disseminated at regional level. The third part of this chapter contains the presentation and explanation of the results of our forecast models. The results are segmented into the markets of origin of the products, the domestic and non-domestic market (imports).

Section 3 - Price

The first part of this chapter is dedicated to the study of the historical evolution of the price, the analysis includes both the supply part and the demand part. In the second part we present and explain the results of the models used in estimating the price for both the supply and demand.
Note: Product cover images may vary from those shown
  • Abbreviations
  • Data sources
  • Introduction
  • Summary
  • Key statistics
  • Key evolutions
1. Supply
1.1 Historical period 2014-2019
  • Production
  • Exports
  • In international context
1.2 Forecast period 2020-2024
  • Production
  • Exports
2. Demand
2.1 Historical period 2014-2019
  • Consumption
  • On regional level
  • Imports
  • In international context
2.2 Forecast period 2020-2024
  • Consumption
  • Imports
3. Price
3.1 Historical period 2014-2019
  • On Supply side
  • On Demand side
  • In international context
3.2 Forecast period 2020-2024
  • On Supply side
  • On Demand side
4. Appendix
4.1 Historical period data (2014-2019)
4.2 Forecast data for the next 5 years (2020-2024)

List of figures
Figure 1: Evolution of production (thousand euros)
Figure 2: Production structure (%)
Figure 3: Contribution to the yearly variation (%)
Figure 4: Yearly production volatility
Figure 5: Yearly production volatility by destination markets
Figure 6: Output gap (%)
Figure 7: Dynamic of production vs. consumption
Figure 8: Distribution of shares compared to the historical average
Figure 9: Production trend by destination markets
Figure 10: Volatility of production values compared to the historical average
Figure 11: Exports evolution (thousand euros)
Figure 12: Concentration of exports at the level of the first 10 trading partners '14vs'19(%)
Figure 13: Yearly exports dynamic (YoY) of the first 10 trading partners
Figure 14: Average annual growth rate of exports of the first 10 trading partners
Figure 15: Cumulative contribution to exports growth '14-'19(pp)
Figure 16: Evolution of production in an international context (2019 = 100)
Figure 17: Production dynamic in an international context
Figure 18: Production structure in an international context (%)Production structure in an international context (%)
Figure 19: Production per capita in an international context - relative to the EU average
Figure 20: Evolution of exports in an international context (2019 = 100)
Figure 21: Exports dynamic in an international context
Figure 22: Exports per capita in an international context - relative to the EU average
Figure 23: Model fitting in historical period
Figure 24: Results of the forecast model 2020-2024
Figure 25: Contribution to yearly dynamic - Forecast central scenario '20-'24(%)
Figure 26: Production structure - Forecast central scenario '20-'24(%)
Figure 27: Forecast of production values according to destination '20-'24
Figure 28: Model fitting in historical period
Figure 29: The results of the forecast model 2020-2024
Figure 30: Yearly percentage evolution of the central scenario (YoY)%
Figure 31: Cumulative contribution to exports growth '20-'24(pp)
Figure 32: Yearly dynamic of exports (YoY) of the first 10 trading partners
Figure 33: Evolution of consumption (thousand euros)
Figure 34: Consumption structure (%)
Figure 35: Contribution to the yearly variation (%)
Figure 36: Yearly consumption volatility
Figure 37: Yearly consumption volatility by destination markets
Figure 38: Output gap(%)
Figure 39: Distribution of shares compared to the historical average
Figure 40: Demand trend by destination markets
Figure 41: Volatility of consumption values compared to the historical average
Figure 42: Regions performance scoreboard
Figure 43: Evolution of apparent consumption at the regional level
Figure 44: Cumulative contribution to the growth of aparent consumption (pp)
Figure 45: Region performance scoreboard Západné Slovensko
Figure 46: Region consumption evolution Západné Slovensko
Figure 47: Region performance scoreboard Bratislavský kraj
Figure 48: Region consumption evolution Bratislavský kraj
Figure 49: Region performance scoreboard Stredné Slovensko
Figure 50: Region consumption evolution Stredné Slovensko
Figure 51: Region performance scoreboard Východné Slovensko
Figure 52: Region consumption evolution Východné Slovensko
Figure 53: Imports value (thousand euros)
Figure 54: Concentration of imports at the level of the first 10 trading partners '14vs'19(%)
Figure 55: Yearly imports dynamic (YoY) of the first 10 trading partners
Figure 56: Average annual growth rate of imports of the first 10 trading partners
Figure 57: Cumulative contribution to imports growth '14-'19(pp)
Figure 58: Evolution of consumption in an international context (2019 = 100)
Figure 59: Demand dynamic in an international context
Figure 60: Demand structure in an international context (%)
Figure 61: Consumption per capita in an international context - relative to the EU average
Figure 62: Evolution of imports in an international context (2019 = 100)
Figure 63: Imports dynamic in an international context
Figure 64: Imports per capita in an international context - relative to the EU average
Figure 65: Model fitting in the historical period
Figure 66: Results of the forecast model 2020-2024
Figure 67: Contribution to yearly dynamic - Forecast central scenario '20-'24(%)
Figure 68: Consumption structure - Forecast central scenario '20-'24(%)
Figure 69: Forecast of consumption values according to source '20-'24
Figure 70: Model fitting in the historical period
Figure 71: The results of the forecast model 2020-2024
Figure 72: Yearly percentage evolution of the central scenario (YoY)%
Figure 73: Cumulative contribution to imports growth '20-'24(pp)
Figure 74: Yearly dynamic of imports (YoY) of the first 10 trading partners
Figure 75: Evolution of the total production price (euro)
Figure 76: Price-quantity produced relation
Figure 77: Contribution to the yearly price variation (pp%)
Figure 78: Nominal price level depending on the destination market (euro)
Figure 79: Average price difference DM vs N-DM (%)
Figure 80: Volatility of production prices compared to the historical average
Figure 81: The evolution of the total consumption price (euro)
Figure 82: Price-quantity consumed relation
Figure 83: The evolution of the price structure - the contribution to the total variation
Figure 84: Nominal price level depending on the market of origin (euro)
Figure 85: Average price difference DM vs N-DM (%)
Figure 86: Consumer price volatility compared to the historical average
Figure 87: The price in the international context - compared to the EU average
Figure 88: The price in the international context - Price evolution
Figure 89: The price in the international context - Price volatility
Figure 90: The price in the international context - compared to the EU average
Figure 91: The price in the international context - Price evolution
Figure 92: The price in the international context - Price volatility
Figure 93: Results of the forecast model 2020-2024
Figure 94: Results of the forecast model 2020-2024

List of tables
Table 1: Forecast of absolute values of production '20-'24 period u.m. thousand euro
Table 2: Forecast of absolute values of exports '20-'24 period u.m. thousand euro
Table 3: Forecast of absolute values of consumption '20-'24 period u.m. thousand euro
Table 4: Forecast of absolute values of imports '20-'24 period u.m. thousand euro
Table 5: Forecast nominal price values in the central scenario - '20-'24 u.m euro - Supply
Table 6: Forecast nominal price values in the central scenario - '20-'24 u.m euro - Demand
Table 7: Historical period data (2014-2019) - Values - u.m. thousand euro
Table 8: Historical period data (2014-2019) - Quantity - u.m. 1000kg
Table 9: Top 10 destination markets (according to 2019 data) - Value u.m. thousand euro
Table 10: Top 10 origin markets (according to 2019 data) - Value u.m. thousand euro
Table 11: Production - Forecast data for the next 5 years (2020-2024) - Value (u.m.: thousand euro)
Table 12: Exports - Forecast data for the next 5 years (2020-2024) - Value (u.m.: thousand euro)
Table 13: Consumption - Forecast data for the next 5 years (2020-2024) - Value (u.m.: thousand euro)
Table 14: Imports - Forecast data for the next 5 years (2020-2024) - Value (u.m.: thousand euro)
Table 15: Production - Forecast data for the next 5 years (2020-2024) - Quantity (u.m.: 1000kg)
Table 16: Exports - Forecast data for the next 5 years (2020-2024) - Quantity (u.m.: 1000kg)
Table 17: Consumption - Forecast data for the next 5 years (2020-2024) - Quantity (u.m.: 1000kg)
Table 18: Imports - Forecast data for the next 5 years (2020-2024) - Quantity (u.m.: 1000kg)
Note: Product cover images may vary from those shown
Executive summary

The market will register an average annual evolution (AAGR%) of -0.86% in the 2020-2024 period, according to the central estimates:
  • Influenced by declining demand for imported products;
  • The domestic market will absorb with 0 less percentages of production compared to the historical period.
Supply

In the historical period, the evolution of production had, an upward trend, recording an average annual growth rate (AAGR) of 8.14%. In this timeframe 100% of the production went to the non-domestic market. Calculating the cumulative contribution of the sources of influence on the evolution of the whole period, we identified that

Referring further to the historical period but to the second destination market of production, the non-domestic market, we identified that exports had an upward evolution registering an average annual growth rate (AAGR%) of 8.14%. In order to understand the evolution of exports, it is necessary to analyze the concentration of exports at the level of destination markets, more precisely at the level of the first 10 destination markets because they sum up on average 69.77 % of the total exports. Among the most important destination markets we find CH, DE AT, BE, BG, CZ, DK, EE, ES, FI.

Estimating the offer for the period 2020-2024 was made with the help of historical data from the period 2014-2019. The data obtained are the result of linear log-log models, which allowed the approximation of the evolution of supply and demand in the domestic and non-domestic market for the period. 2014-2024. In the central scenario we anticipate an average annual evolution (AAGR%) for the entire period of 1.71%. In addition to the data from the historical period, we anticipate that the domestic market will have an absolute cumulative contribution of 0pp.

Demand

In the historical period, consumption had a downward trend recording an average annual growth rate (AAGR%) of -8.28%. During this period, the demand was met on average, in proportion of 100% by import products. Analyzing the structure of demand, we identified that demand for domestic products contributed with 0pp to the cumulative evolution of the demand for the whole period.

Referring further to the historical period but to the second market of origin of products, imported products, we identified that imports had a downward evolution registering an average annual growth rate (AAGR%) of -8.28%. Among the most important countries from which the supply is made we find CA AT, BE, BG, CN, CZ, DE, DK, EC, ES.
Estimation of demand for the period 2020-2024 was made with the help of historical data from the period 2014-2019. In the central scenario we anticipate an average annual evolution (AAGR%) for the entire period of -0.86%. In addition to the data from the historical period, we anticipate that the domestic market will have an absolute cumulative contribution of 0pp.
Note: Product cover images may vary from those shown
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