Market Trends of Morocco Freight And Logistics Industry
Increasing Infrastructure Investments in the Country are Anticipated to Drive the Market
Increasing public investments in the country's physical infrastructure during the study period contributed to expanding the domestic transport and logistics sector. The construction of 1,800 km of new expressways, the expansion of the rail network, and the development of logistic and industrial zones led to a sharp rise in the number of companies active in the transport and logistics business. Upgrades in transport and logistics infrastructure have driven economic growth in Morocco in recent years.
As the country develops and urban areas expand, the interconnectivity of economic centers and efficient connections to the rest of the world would be paramount to supporting the growth of other sectors, such as agriculture, manufacturing, and tourism.
Over the last two decades, the kingdom spent an average of about MAD 40 billion (USD 4.2 billion) on transport and logistics, representing 10% of total investment in the country and 20-25% of the state's investment budget. In the base year, the sector accounted for around 4% of GDP.
Morocco is planning to link two cities on its western flank overlooking the Atlantic in a rail project that might cost an estimated MAD 75 billion (USD 7.58 billion). The 'Express Train' will connect Morocco's largest city, Casablanca, with Agadir, located in the south.
Growth in E-commerce Sector Driving the Market
Morocco's e-commerce sales are anticipated to grow over the coming years, with revenue expected to show a compound annual growth rate (CAGR) of 13.6%, leading to a projected market volume of USD 3.1 billion by 2027.
Currently ranked as the 69th largest e-commerce market globally, Morocco is expected to witness a surge in revenue, reaching USD 1.8 billion by 2023.
At the forefront of the Moroccan e-commerce platform is Electroplanet, which generated a revenue of USD 34 million in 2022.
It is followed by Shein and Jumia as the second and third-largest stores with USD 21.6 million and USD 14.5 million in revenue, respectively.
The top three stores account for over 36% of the top 100 online stores' revenue in Morocco.
The store rankings encompass all establishments generating revenue in Morocco, irrespective of whether they have a national focus or operate on a global scale. Only revenue created in Morocco was considered, however.
Morocco experienced an e-commerce boom in recent years, particularly during the COVID-19 pandemic.
The country's four-month lockdown in 2020 resulted in a 46% increase in the volume of transactions made through Moroccan e-commerce websites, and a 25% increase in money spent on online purchases.
