Morocco: Market for Agricultural And Forestry Tractors 2023

Market Size for Agricultural And Forestry Tractors in Morocco

After two years of decline, the Moroccan agricultural and forestry tractor market increased by 79% to $X in 2021. Over the period under review, consumption, however, recorded a relatively flat trend pattern. Agricultural and forestry tractor consumption peaked at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Exports of Agricultural And Forestry Tractors

Exports from Morocco

In 2021, shipments abroad of agricultural and forestry tractors decreased by -56.5% to X units, falling for the third consecutive year after two years of growth. In general, exports recorded a noticeable curtailment. The pace of growth appeared the most rapid in 2018 with an increase of 167% against the previous year. As a result, the exports attained the peak of X units. From 2019 to 2021, the growth of the exports failed to regain momentum.

In value terms, agricultural and forestry tractor exports fell dramatically to $X in 2021. Overall, exports continue to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2015 with an increase of 128%. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Egypt (X units), Senegal (X units) and Cote d'Ivoire (X units) were the main destinations of agricultural and forestry tractor exports from Morocco, together comprising 60% of total exports.

From 2012 to 2021, the biggest increases were recorded for Egypt (with a CAGR of +13.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Senegal ($X) remains the key foreign market for agricultural and forestry tractors exports from Morocco, comprising 55% of total exports. The second position in the ranking was held by Gabon ($X), with an 18% share of total exports. It was followed by Mauritania, with a 6.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Senegal stood at +5.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Gabon (0.0% per year) and Mauritania (-16.6% per year).

Export Prices by Country

The average agricultural and forestry tractor export price stood at $X per unit in 2021, jumping by 33% against the previous year. In general, the export price, however, saw a noticeable decrease. The pace of growth was the most pronounced in 2017 when the average export price increased by 47%. Over the period under review, the average export prices reached the peak figure at $X per unit in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Senegal ($X per unit), while the average price for exports to Egypt ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Senegal (+6.1%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Agricultural And Forestry Tractors

Imports into Morocco

In 2021, purchases abroad of agricultural and forestry tractors increased by 77% to X units for the first time since 2018, thus ending a two-year declining trend. In general, imports showed a notable increase. Over the period under review, imports reached the peak figure at X units in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, agricultural and forestry tractor imports skyrocketed to $X in 2021. Over the period under review, imports, however, continue to indicate a perceptible curtailment. Imports peaked at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Italy (X units), Turkey (X units) and India (X units) were the main suppliers of agricultural and forestry tractor imports to Morocco, with a combined 80% share of total imports. Spain, Germany, Mexico, France and China lagged somewhat behind, together accounting for a further 19%.

From 2012 to 2021, the biggest increases were recorded for Germany (with a CAGR of +17.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), Turkey ($X) and India ($X) were the largest agricultural and forestry tractor suppliers to Morocco, together accounting for 86% of total imports. Mexico, Germany, France, Spain and China lagged somewhat behind, together accounting for a further 12%.

Germany, with a CAGR of +5.0%, recorded the highest rates of growth with regard to 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 agricultural and forestry tractor import price stood at $X per unit in 2021, leveling off at the previous year. In general, the import price, however, continues to indicate a abrupt descent. The most prominent rate of growth was recorded in 2016 an increase of 39%. The import price peaked at $X per unit in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (-3.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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