Morocco: Electrical Circuit Apparatus Market 2022

Electrical Circuit Apparatus Market Size in Morocco

The Moroccan electrical circuit apparatus market surged to $X in 2021, increasing by 57% 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). Overall, the total consumption indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +8.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Electrical Circuit Apparatus Exports

Exports from Morocco

Electrical circuit apparatus exports from Morocco surged to X tons in 2021, picking up by 83% against the previous year. Over the period under review, exports posted a remarkable increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, electrical circuit apparatus exports surged to $X in 2021. Overall, exports enjoyed a remarkable increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Spain (X tons) was the main destination for electrical circuit apparatus exports from Morocco, accounting for a 47% share of total exports. Moreover, electrical circuit apparatus exports to Spain exceeded the volume sent to the second major destination, France (X tons), twofold. Senegal (X tons) ranked third in terms of total exports with a 5.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Spain amounted to +36.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+10.0% per year) and Senegal (+15.0% per year).

In value terms, Spain ($X), France ($X) and Germany ($X) appeared to be the largest markets for electrical circuit apparatus exported from Morocco worldwide, together accounting for 86% of total exports.

In terms of the main countries of destination, Spain, with a CAGR of +47.3%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average electrical circuit apparatus export price amounted to $X per ton, jumping by 29% against the previous year. In general, the export price showed a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was France ($X per ton), while the average price for exports to Senegal ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+8.3%), while the prices for the other major destinations experienced mixed trend patterns.

Electrical Circuit Apparatus Imports

Imports into Morocco

In 2021, electrical circuit apparatus imports into Morocco soared to X tons, increasing by 79% on 2020 figures. Overall, imports continue to indicate a remarkable increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, electrical circuit apparatus imports surged to $X in 2021. Over the period under review, imports enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2013 when imports increased by 68%. Imports peaked in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, Spain (X tons) constituted the largest electrical circuit apparatus supplier to Morocco, accounting for a 57% share of total imports. Moreover, electrical circuit apparatus imports from Spain exceeded the figures recorded by the second-largest supplier, China (X tons), fourfold. France (X tons) ranked third in terms of total imports with an 8.7% share.

From 2012 to 2021, the average annual growth rate of volume from Spain stood at +22.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+11.2% per year) and France (+0.3% per year).

In value terms, Spain ($X) constituted the largest supplier of electrical circuit apparatus to Morocco, comprising 51% of total imports. The second position in the ranking was taken by France ($X), with a 14% share of total imports. It was followed by China, with a 7.7% share.

From 2012 to 2021, the average annual growth rate of value from Spain stood at +23.9%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+1.9% per year) and China (+16.4% per year).

Import Prices by Country

The average electrical circuit apparatus import price stood at $X per ton in 2021, shrinking by -9.4% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 10%. Over the period under review, average import prices attained the maximum at $X per ton in 2020, and then contracted in the following year.

Prices varied noticeably country of origin: the country with the highest price was Belgium ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+6.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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