Morocco: Accordion Market 2024

Accordion Market Size in Morocco

The Moroccan accordion market shrank to $X in 2021, dropping by -5.4% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, saw a strong expansion. As a result, consumption attained the peak level of $X. From 2016 to 2021, the growth of the market failed to regain momentum.

Accordion Exports

Exports from Morocco

In 2021, the amount of accordions and mouth organs exported from Morocco reduced sharply to X units, with a decrease of -71.2% against 2020 figures. Overall, exports, however, continue to indicate temperate growth. The most prominent rate of growth was recorded in 2020 with an increase of 13,518% against the previous year. As a result, the exports reached the peak of X units, and then fell remarkably in the following year.

In value terms, accordion exports fell markedly to $X in 2021. In general, exports continue to indicate a sharp reduction. The most prominent rate of growth was recorded in 2020 with an increase of 12,959%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Israel (X units) was the main destination for accordion exports from Morocco, accounting for a 91% share of total exports. Moreover, accordion exports to Israel exceeded the volume sent to the second major destination, Canada (X units), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to Israel amounted to +19.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+9.8% per year) and the United States (-51.6% per year).

In value terms, Israel ($X) remains the key foreign market for accordions and mouth organs exports from Morocco, comprising 73% of total exports. The second position in the ranking was taken by Canada ($X), with a 13% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Israel stood at -3.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (-4.1% per year) and the United States (-60.7% per year).

Export Prices by Country

The average accordion export price stood at $X per unit in 2021, waning by -7.5% against the previous year. Overall, the export price saw a precipitous decline. The most prominent rate of growth was recorded in 2019 when the average export price increased by 24%. The export price peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Israel ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (-11.2%), while the prices for the other major destinations experienced a decline.

Accordion Imports

Imports into Morocco

In 2021, accordion imports into Morocco dropped to X units, declining by -12.6% on the previous year. Overall, imports, however, saw a prominent expansion. The pace of growth appeared the most rapid in 2015 with an increase of 428% against the previous year. As a result, imports attained the peak of X units. From 2016 to 2021, the growth of imports failed to regain momentum.

In value terms, accordion imports dropped rapidly to $X in 2021. In general, imports, however, recorded a moderate expansion. The growth pace was the most rapid in 2015 when imports increased by 425%. As a result, imports attained the peak of $X. From 2016 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, China (X units) constituted the largest supplier of accordion to Morocco, accounting for a 74% share of total imports. Moreover, accordion imports from China exceeded the figures recorded by the second-largest supplier, France (X units), ninefold. The third position in this ranking was held by Japan (X units), with a 1.9% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +6.2%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+11.7% per year) and Japan (+20.2% per year).

In value terms, China ($X) constituted the largest supplier of accordions and mouth organs to Morocco, comprising 33% of total imports. The second position in the ranking was held by Japan ($X), with a 12% share of total imports. It was followed by France, with a 5% share.

From 2012 to 2021, the average annual growth rate of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+22.9% per year) and France (+2.3% per year).

Import Prices by Country

In 2021, the average accordion import price amounted to $X per unit, waning by -6.7% against the previous year. In general, the import price saw a mild reduction. The growth pace was the most rapid in 2013 when the average import price increased by 55% against the previous year. As a result, import price reached the peak level of $X per unit. From 2014 to 2021, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Japan ($X per unit), while the price for Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+2.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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