Morocco: Knitted Fabric Market 2024

Knitted Fabric Market Size in Morocco

The Moroccan knitted fabric market surged to $X in 2021, with an increase of 43% 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). In general, consumption continues to indicate buoyant growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Knitted Fabric Exports

Exports from Morocco

In 2021, overseas shipments of knitted or crocheted fabrics increased by 9% to X tons, rising for the third consecutive year after three years of decline. Over the period under review, total exports indicated a buoyant expansion from 2012 to 2021: its volume increased at an average annual rate of +6.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +78.3% against 2018 indices. The most prominent rate of growth was recorded in 2020 when exports increased by 47% against the previous year. The exports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, knitted fabric exports rose slightly to $X in 2021. In general, exports continue to indicate a resilient increase. The growth pace was the most rapid in 2020 with an increase of 79%. Over the period under review, the exports attained the maximum in 2021 and are likely to continue growth in the immediate term.

Exports by Country

France (X tons), Spain (X tons) and Portugal (X tons) were the main destinations of knitted fabric exports from Morocco, together comprising 89% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Spain (with a CAGR of +23.8%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for knitted fabric exported from Morocco were France ($X), Spain ($X) and Portugal ($X), with a combined 88% share of total exports.

Spain, with a CAGR of +21.9%, saw the highest growth rate of the value of exports, among 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

The average knitted fabric export price stood at $X per ton in 2021, dropping by -6.4% against the previous year. Overall, export price indicated a notable increase from 2012 to 2021: its price increased at an average annual rate of +3.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, knitted fabric export price increased by +66.6% against 2018 indices. The most prominent rate of growth was recorded in 2019 an increase of 46%. The export price peaked at $X per ton in 2020, and then declined in the following year.

Average prices varied noticeably for the major foreign markets. In 2021, amid the top suppliers, the countries with the highest prices were France ($X per ton) and Tunisia ($X per ton), while the average price for exports to Spain ($X per ton) and Portugal ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to France (+4.6%), while the prices for the other major destinations experienced mixed trend patterns.

Knitted Fabric Imports

Imports into Morocco

In 2021, approx. X tons of knitted or crocheted fabrics were imported into Morocco; rising by 36% compared with the previous year's figure. In general, imports continue to indicate a remarkable increase. The pace of growth was the most pronounced in 2018 when imports increased by 45%. Over the period under review, imports reached the maximum in 2021 and are likely to continue growth in years to come.

In value terms, knitted fabric imports skyrocketed to $X in 2021. Overall, total imports indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +6.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. 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 knitted fabric supplier to Morocco, with a 67% share of total imports. Moreover, knitted fabric imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X tons), sevenfold. Portugal (X tons) ranked third in terms of total imports with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +14.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+10.6% per year) and Portugal (+20.7% per year).

In value terms, China ($X) constituted the largest supplier of knitted or crocheted fabrics to Morocco, comprising 48% of total imports. The second position in the ranking was held by Turkey ($X), with a 13% share of total imports. It was followed by Portugal, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +13.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+7.5% per year) and Portugal (+15.2% per year).

Import Prices by Country

In 2021, the average knitted fabric import price amounted to $X per ton, growing by 8.3% against the previous year. In general, the import price, however, continues to indicate a perceptible decrease. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (-1.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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