Morocco: Machinery Electrical Parts Market 2024

Machinery Electrical Parts Market Size in Morocco

The Moroccan machinery electrical parts market shrank to $X in 2022, approximately reflecting the previous year. Over the period under review, consumption showed a relatively flat trend pattern. Machinery electrical parts consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Machinery Electrical Parts Production in Morocco

In value terms, machinery electrical parts production dropped modestly to $X in 2022 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 with an increase of 40% against the previous year. Machinery electrical parts production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Machinery Electrical Parts Exports

Exports from Morocco

In 2022, approx. X tons of electrical parts of machinery or apparatus were exported from Morocco; reducing by -7.3% against 2021. Overall, exports, however, enjoyed a significant expansion. The most prominent rate of growth was recorded in 2018 when exports increased by 509%. The exports peaked at X tons in 2021, and then fell in the following year.

In value terms, machinery electrical parts exports contracted significantly to $X in 2022. Over the period under review, exports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2018 with an increase of 406%. Over the period under review, the exports reached the maximum at $X in 2021, and then declined significantly in the following year.

Exports by Country

Poland (X tons), France (X tons) and Germany (X tons) were the main destinations of machinery electrical parts exports from Morocco, with a combined 99% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Poland (with a CAGR of +47.1%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Poland ($X) and the UK ($X) appeared to be the largest markets for machinery electrical parts exported from Morocco worldwide, with a combined 95% share of total exports.

Poland, with a CAGR of +117.8%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average machinery electrical parts export price amounted to $X per ton, with a decrease of -17.9% against the previous year. Over the period under review, the export price continues to indicate a abrupt descent. The most prominent rate of growth was recorded in 2019 when the average export price increased by 53%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to France ($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 Poland (+48.0%), while the prices for the other major destinations experienced more modest paces of growth.

Machinery Electrical Parts Imports

Imports into Morocco

In 2022, the amount of electrical parts of machinery or apparatus imported into Morocco shrank rapidly to X tons, reducing by -23.2% against the previous year's figure. Over the period under review, imports showed a noticeable descent. The pace of growth appeared the most rapid in 2019 with an increase of 267% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, machinery electrical parts imports declined rapidly to $X in 2022. In general, imports continue to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2019 with an increase of 342%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Malaysia (X kg), China (X kg) and Germany (X kg) were the main suppliers of machinery electrical parts imports to Morocco, together comprising 86% of total imports.

From 2012 to 2022, the biggest increases were recorded for Malaysia (with a CAGR of +292.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest machinery electrical parts suppliers to Morocco were China ($X), France ($X) and Germany ($X), together comprising 63% of total imports. Malaysia, the United Arab Emirates and Taiwan (Chinese) lagged somewhat behind, together accounting for a further 35%.

Malaysia, with a CAGR of +176.8%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average machinery electrical parts import price stood at $X per ton in 2022, dropping by -6.3% against the previous year. In general, the import price showed a pronounced descent. The most prominent rate of growth was recorded in 2020 an increase of 141%. As a result, import price attained the peak level of $X per ton. From 2021 to 2022, the average import prices failed to regain momentum.

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 the United Arab Emirates ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+19.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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