Price for Tractors; (Other than Tractors of Heading No 8709) in Morocco - 2023

Contents:

1. Price for Tractors; (Other than Tractors of Heading No 8709) in Morocco (CIF) - 2023
2. Price for Tractors; (Other than Tractors of Heading No 8709) in Morocco (FOB) - 2022
3. Imports of Tractors; (Other than Tractors of Heading No 8709) in Morocco
4. Exports of Tractors; (Other than Tractors of Heading No 8709) in Morocco

Price for Tractors; (Other than Tractors of Heading No 8709) in Morocco (CIF) - 2023

In June 2023, the average import price for tractors; (other than tractors of heading no 8709)s amounted to $53,210 per unit, waning by -11.4% against the previous month. Over the last twelve months, it increased at an average monthly rate of +1.1%. The pace of growth appeared the most rapid in September 2022 when the average import price increased by 16% against the previous month. The import price peaked at $62,165 per unit in October 2022; afterwards, it flattened through to June 2023.

There were significant differences in the average prices amongst the major supplying countries. In June 2023, the country with the highest price was Poland ($62,265 per unit), while the price for Italy ($10,322 per unit) was amongst the lowest.

From June 2022 to June 2023, the most notable rate of growth in terms of prices was attained by India (+1.8%), while the prices for the other major suppliers experienced a decline.

Price for Tractors; (Other than Tractors of Heading No 8709) in Morocco (FOB) - 2022

In 2022, the average export price for tractors; (other than tractors of heading no 8709)s amounted to $12,739 per unit, waning by -22.9% against the previous year. Over the period under review, the export price faced a deep downturn. The most prominent rate of growth was recorded in 2020 an increase of 182%. The export price peaked at $53,435 per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Cote d'Ivoire ($56,942 per unit), while the average price for exports to Guinea ($2,560 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Cote d'Ivoire (+5.8%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Tractors; (Other than Tractors of Heading No 8709) in Morocco

Imports of tractors; (other than tractors of heading no 8709)s into Morocco reduced notably to 3.6K units in 2022, waning by -44.9% on the year before. Over the period under review, imports saw a deep contraction. The growth pace was the most rapid in 2021 when imports increased by 53%. As a result, imports reached the peak of 6.5K units, and then fell remarkably in the following year.

In value terms, imports of tractors; (other than tractors of heading no 8709)s declined to $265M in 2022. In general, total imports indicated a buoyant expansion from 2019 to 2022: its value increased at an average annual rate of +12.3% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +41.8% against 2019 indices. The pace of growth appeared the most rapid in 2021 with an increase of 41% against the previous year. As a result, imports attained the peak of $284M, and then dropped in the following year.

Top Suppliers of Tractors; (Other than Tractors of Heading No 8709) to Morocco in 2022:

1. Italy (602.0 units)
2. France (565.0 units)
3. Spain (454.0 units)
4. Germany (412.0 units)
5. Turkey (326.0 units)
6. Netherlands (317.0 units)
7. Belgium (289.0 units)
8. India (286.0 units)
9. Sweden (21.0 units)

Exports of Tractors; (Other than Tractors of Heading No 8709) in Morocco

In 2022, the amount of tractors; (other than tractors of heading no 8709)s exported from Morocco skyrocketed to 275 units, increasing by 588% on the previous year. Overall, exports recorded significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, exports of tractors; (other than tractors of heading no 8709)s soared to $3.5M in 2022. In general, exports continue to indicate a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Top Export Markets for Tractors; (Other than Tractors of Heading No 8709) from Morocco in 2022:

1. Guinea (163.0 units)
2. United Arab Emirates (56.0 units)
3. Cote d'Ivoire (17.0 units)
4. Senegal (14.0 units)
5. Mauritania (10.0 units)
6. Egypt (9.0 units)

Source: IndexBox Market Intelligence Platform