Morocco: Electrical Musical Instrument Market 2024

Electrical Musical Instrument Market Size in Morocco

The Moroccan electrical musical instrument market declined to $X in 2022, with a decrease of X% 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, consumption, however, showed a prominent increase. As a result, consumption reached the peak level of $X, and then reduced in the following year.

Electrical Musical Instrument Exports

Exports from Morocco

Electrical musical instrument exports from Morocco reduced sharply to X units in 2022, which is down by X% against the previous year's figure. Overall, exports, however, saw a notable expansion. The growth pace was the most rapid in 2016 with an increase of X%. As a result, the exports reached the peak of X units. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, electrical musical instrument exports shrank rapidly to $X in 2022. Over the period under review, exports saw a pronounced downturn. The growth pace was the most rapid in 2015 when exports increased by X%. The exports peaked at $X in 2021, and then declined rapidly in the following year.

Exports by Country

Burkina Faso (X units), Cote d'Ivoire (X units) and Portugal (X units) were the main destinations of electrical musical instrument exports from Morocco, with a combined X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Cote d'Ivoire (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Burkina Faso ($X) emerged as the key foreign market for electrical musical or keyboard instruments exports from Morocco, comprising X% of total exports. The second position in the ranking was held by Portugal ($X), with a X% share of total exports. It was followed by France, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Burkina Faso was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Portugal (X% per year) and France (X% per year).

Export Prices by Country

In 2022, the average electrical musical instrument export price amounted to $X per unit, waning by X% against the previous year. Over the period under review, the export price continues to indicate a abrupt decrease. The pace of growth appeared the most rapid in 2015 when the average export price increased by X%. The export price peaked at $X per unit in 2021, and then fell dramatically in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to France (X%), while the prices for the other major destinations experienced a decline.

Electrical Musical Instrument Imports

Imports into Morocco

In 2022, after two years of growth, there was significant decline in overseas purchases of electrical musical or keyboard instruments, when their volume decreased by X% to X units. In general, imports, however, posted resilient growth. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. Imports peaked at X units in 2021, and then declined in the following year.

In value terms, electrical musical instrument imports fell to $X in 2022. Overall, imports, however, enjoyed temperate growth. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of $X, and then reduced in the following year.

Imports by Country

In 2022, China (X units) constituted the largest electrical musical instrument supplier to Morocco, accounting for a X% share of total imports. Moreover, electrical musical instrument imports from China exceeded the figures recorded by the second-largest supplier, Indonesia (X units), ninefold. India (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (X% per year) and India (X% per year).

In value terms, China ($X) constituted the largest supplier of electrical musical or keyboard instruments to Morocco, comprising X% of total imports. The second position in the ranking was taken by Malaysia ($X), with a X% share of total imports. It was followed by Indonesia, with a X% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (X% per year) and Indonesia (X% per year).

Import Prices by Country

In 2022, the average electrical musical instrument import price amounted to $X per unit, growing by X% against the previous year. Over the period under review, the import price, however, showed a abrupt descent. The pace of growth appeared the most rapid in 2014 an increase of X% against the previous year. As a result, import price attained the peak level of $X per unit. From 2015 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Malaysia ($X per unit), while the price for China ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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