Morocco: Radio Navigation Apparatus Market 2024

Radio Navigation Apparatus Market Size in Morocco

The Moroccan radio navigation apparatus market contracted dramatically to $X in 2021, falling by -70.6% 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, consumption saw a abrupt setback. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market remained at a somewhat lower figure.

Radio Navigation Apparatus Exports

Exports from Morocco

In 2021, radio navigation apparatus exports from Morocco surged to X tons, rising by 21% compared with the previous year. In general, exports posted significant growth. The most prominent rate of growth was recorded in 2017 when exports increased by 768% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in the immediate term.

In value terms, radio navigation apparatus exports shrank slightly to $X in 2021. Overall, exports enjoyed a resilient increase. The most prominent rate of growth was recorded in 2017 with an increase of 1,611% against the previous year. The exports peaked at $X in 2020, and then fell modestly in the following year.

Exports by Country

Canada (X tons) was the main destination for radio navigation apparatus exports from Morocco, accounting for a 71% share of total exports. Moreover, radio navigation apparatus exports to Canada exceeded the volume sent to the second major destination, Burkina Faso (X kg), sixfold. Madagascar (X kg) ranked third in terms of total exports with an 8.8% share.

From 2012 to 2021, the average annual growth rate of volume to Canada stood at +92.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Burkina Faso (+77.7% per year) and Madagascar (+33.8% per year).

In value terms, Canada ($X) remains the key foreign market for radio navigational aid apparatus exports from Morocco, comprising 63% of total exports. The second position in the ranking was taken by Madagascar ($X), with a 16% share of total exports. It was followed by Burkina Faso, with a 1.8% share.

From 2012 to 2021, the average annual growth rate of value to Canada totaled +85.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Madagascar (+39.8% per year) and Burkina Faso (+65.3% per year).

Export Prices by Country

The average radio navigation apparatus export price stood at $X per ton in 2021, dropping by -18.5% against the previous year. Overall, the export price saw a deep reduction. The growth pace was the most rapid in 2017 an increase of 98%. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Madagascar ($X per ton), while the average price for exports to Burkina Faso ($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 the United States (+10.6%), while the prices for the other major destinations experienced mixed trend patterns.

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Radio Navigation Apparatus Imports

Imports into Morocco

Radio navigation apparatus imports into Morocco fell rapidly to X tons in 2021, with a decrease of -73.6% on 2020. Overall, imports faced a deep contraction. The pace of growth was the most pronounced in 2019 when imports increased by 403%. As a result, imports reached the peak of X tons. From 2020 to 2021, the growth of imports remained at a lower figure.

In value terms, radio navigation apparatus imports shrank rapidly to $X in 2021. Over the period under review, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2019 with an increase of 342% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, South Korea (X tons) constituted the largest supplier of radio navigation apparatus to Morocco, with a 44% share of total imports. Moreover, radio navigation apparatus imports from South Korea exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. The third position in this ranking was held by Spain (X kg), with a 12% share.

From 2012 to 2021, the average annual growth rate of volume from South Korea stood at +43.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-7.7% per year) and Spain (+6.1% per year).

In value terms, South Korea ($X), Spain ($X) and China ($X) were the largest radio navigation apparatus suppliers to Morocco, with a combined 18% share of total imports.

South Korea, with a CAGR of +41.4%, recorded the highest rates of growth with regard to the value of imports, among 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 radio navigation apparatus import price stood at $X per ton in 2021, picking up by 126% against the previous year. Overall, the import price continues to indicate a buoyant expansion. 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 Germany ($X per ton), while the price for Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+22.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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