Morocco: Fishing Rod Market 2024

Fishing Rod Market Size in Morocco

The Moroccan fishing rod market soared to $X in 2021, surging by 34% 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 +5.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +23.6% against 2016 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Fishing Rod Exports

Exports from Morocco

In 2021, overseas shipments of fishing rods and other line fishing tackle decreased by -75.6% to X kg, falling for the third consecutive year after two years of growth. Over the period under review, exports, however, posted temperate growth. The growth pace was the most rapid in 2015 when exports increased by 4,517% against the previous year. As a result, the exports reached the peak of X tons. From 2016 to 2021, the growth of the exports remained at a lower figure.

In value terms, fishing rod exports reduced dramatically to $X in 2021. In general, exports saw a deep contraction. The pace of growth appeared the most rapid in 2015 with an increase of 3,472%. As a result, the exports attained the peak of $X. From 2016 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Cote d'Ivoire (X kg) was the main destination for fishing rod exports from Morocco, with a 61% share of total exports. Moreover, fishing rod exports to Cote d'Ivoire exceeded the volume sent to the second major destination, Spain (X kg), threefold. Senegal (X kg) ranked third in terms of total exports with an 8.7% share.

From 2012 to 2021, the average annual growth rate of volume to Cote d'Ivoire totaled +4.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+7.2% per year) and Senegal (+19.6% per year).

In value terms, Cote d'Ivoire ($X) remains the key foreign market for fishing rods and other line fishing tackle exports from Morocco, comprising 67% of total exports. The second position in the ranking was taken by Senegal ($X), with a 7.2% share of total exports. It was followed by Spain, with a 4.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Cote d'Ivoire totaled -16.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Senegal (+40.6% per year) and Spain (-27.5% per year).

Export Prices by Country

The average fishing rod export price stood at $X per ton in 2021, jumping by 51% against the previous year. In general, the export price, however, recorded a precipitous slump. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Mauritania ($X per ton), while the average price for exports to Spain ($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 Senegal (+17.6%), while the prices for the other major destinations experienced a decline.

Fishing Rod Imports

Imports into Morocco

In 2021, purchases abroad of fishing rods and other line fishing tackle was finally on the rise to reach X tons after two years of decline. Over the period under review, total imports indicated noticeable growth from 2012 to 2021: its volume increased at an average annual rate of +2.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 when imports increased by 33% against the previous year. Imports peaked at X tons in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, fishing rod imports skyrocketed to $X in 2021. Overall, total imports indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +5.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +61.7% against 2017 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest fishing rod supplier to Morocco, accounting for a 48% share of total imports. Moreover, fishing rod imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X tons), eightfold. The third position in this ranking was taken by Spain (X tons), with a 3.6% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +4.2%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-12.8% per year) and Spain (+11.6% per year).

In value terms, China ($X) constituted the largest supplier of fishing rods and other line fishing tackle to Morocco, comprising 36% of total imports. The second position in the ranking was taken by Japan ($X), with a 5.4% share of total imports. It was followed by South Korea, with a 5% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +7.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+7.4% per year) and South Korea (-11.2% per year).

Import Prices by Country

In 2021, the average fishing rod import price amounted to $X per ton, growing by 32% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.9%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Japan ($X per ton), while the price for Denmark ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Portugal (+12.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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