Morocco: Twine Product Market 2024

Twine Product Market Size in Morocco

The Moroccan twine product market fell modestly to $X in 2022, remaining stable against the previous year. In general, consumption posted buoyant growth. Over the period under review, the market attained the maximum level at $X in 2021, and then fell slightly in the following year.

Twine Product Production in Morocco

In value terms, twine product production shrank to $X in 2022 estimated in export price. In general, production saw a strong expansion. The pace of growth appeared the most rapid in 2019 when the production volume increased by 50% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Twine Product Exports

Exports from Morocco

Twine product exports from Morocco contracted markedly to X kg in 2022, waning by -88.3% against the previous year. Over the period under review, exports, however, showed a resilient increase. The most prominent rate of growth was recorded in 2013 when exports increased by 1,114%. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, twine product exports fell significantly to $X in 2022. In general, exports, however, saw resilient growth. The pace of growth was the most pronounced in 2013 with an increase of 1,078% against the previous year. Over the period under review, the exports reached the maximum at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Guinea (X kg), Senegal (X kg) and Mauritania (X kg) were the main destinations of twine product exports from Morocco, together comprising 90% of total exports.

From 2012 to 2022, the biggest increases were recorded for Mauritania (with a CAGR of +29.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Senegal ($X) emerged as the key foreign market for articles of twine, cordage, rope or cables exports from Morocco, comprising 51% of total exports. The second position in the ranking was held by Guinea ($X), with a 19% share of total exports. It was followed by Mauritania, with a 17% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Senegal amounted to +32.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guinea (+47.6% per year) and Mauritania (+22.9% per year).

Export Prices by Country

The average twine product export price stood at $X per ton in 2022, rising by 65% against the previous year. In general, the export price enjoyed a notable increase. The most prominent rate of growth was recorded in 2019 an increase of 300% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2020 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Senegal ($X per ton), while the average price for exports to Guinea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Senegal (+28.3%), while the prices for the other major destinations experienced mixed trend patterns.

Twine Product Imports

Imports into Morocco

In 2022, supplies from abroad of articles of twine, cordage, rope or cables decreased by -1.2% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, imports, however, showed a prominent expansion. The growth pace was the most rapid in 2021 with an increase of 122%. As a result, imports attained the peak of X tons, and then fell slightly in the following year.

In value terms, twine product imports surged to $X in 2022. Overall, total imports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +7.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +99.7% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 59% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of twine product to Morocco, accounting for a 54% share of total imports. Moreover, twine product imports from China exceeded the figures recorded by the second-largest supplier, Spain (X tons), fivefold. Portugal (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +8.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+7.8% per year) and Portugal (+47.1% per year).

In value terms, China ($X) constituted the largest supplier of articles of twine, cordage, rope or cables to Morocco, comprising 49% of total imports. The second position in the ranking was taken by Spain ($X), with a 24% share of total imports. It was followed by Portugal, with a 5.4% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +17.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+7.2% per year) and Portugal (+19.7% per year).

Import Prices by Country

In 2022, the average twine product import price amounted to $X per ton, surging by 27% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The import price peaked at $X per ton in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was France ($X per ton), while the price for Austria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+8.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :