Morocco: Interchangeable Tool Market 2024

Interchangeable Tool Market Size in Morocco

In 2022, the Moroccan interchangeable tool market was finally on the rise to reach $X after two years of decline. Over the period under review, the total consumption indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Interchangeable tool consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Interchangeable Tool Exports

Exports from Morocco

After four years of growth, overseas shipments of interchangeable tools for hand tools decreased by X% to X tons in 2022. Over the period under review, exports, however, recorded a measured increase. The pace of growth appeared the most rapid in 2018 with an increase of X%. Over the period under review, the exports attained the maximum at X tons in 2021, and then declined dramatically in the following year.

In value terms, interchangeable tool exports fell sharply to $X in 2022. Overall, exports, however, showed a strong expansion. The pace of growth was the most pronounced in 2018 when exports increased by X%. The exports peaked at $X in 2021, and then declined dramatically in the following year.

Exports by Country

France (X tons) was the main destination for interchangeable tool exports from Morocco, with a X% share of total exports. Moreover, interchangeable tool exports to France exceeded the volume sent to the second major destination, Spain (X tons), more than tenfold. Gabon (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to France amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (X% per year) and Gabon (X% per year).

In value terms, France ($X) emerged as the key foreign market for interchangeable tools for hand tools exports from Morocco, comprising X% of total exports. The second position in the ranking was held by Spain ($X), with a X% share of total exports. It was followed by Gabon, with a X% share.

From 2012 to 2022, the average annual growth rate of value to France totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (X% per year) and Gabon (X% per year).

Export Prices by Country

The average interchangeable tool export price stood at $X per ton in 2022, picking up by X% against the previous year. Overall, the export price continues to indicate strong growth. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Spain ($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 Italy (X%), while the prices for the other major destinations experienced mixed trend patterns.

Interchangeable Tool Imports

Imports into Morocco

In 2022, approx. X tons of interchangeable tools for hand tools were imported into Morocco; reducing by X% compared with 2021 figures. In general, total imports indicated pronounced growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. Imports peaked at X tons in 2021, and then contracted in the following year.

In value terms, interchangeable tool imports declined to $X in 2022. Over the period under review, total imports indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by X% against 2019 indices. The growth pace was the most rapid in 2017 when imports increased by X% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of interchangeable tool to Morocco, accounting for a X% share of total imports. Moreover, interchangeable tool imports from China exceeded the figures recorded by the second-largest supplier, France (X tons), twofold. South Korea (X tons) ranked third in terms of total imports with a X% share.

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

In value terms, France ($X), China ($X) and Spain ($X) were the largest interchangeable tool suppliers to Morocco, together comprising X% of total imports.

In terms of the main suppliers, China, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average interchangeable tool import price amounted to $X per ton, shrinking by X% against the previous year. Over the period under review, the import price recorded a mild shrinkage. The pace of growth was the most pronounced in 2013 an increase of X%. As a result, import price reached the peak level of $X per ton. From 2014 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 Germany ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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