Market Trends of Morocco Freight And Logistics Industry
Increasing Infrastructure Investments In The Country Are Anticipated To Drive The Market
The expansion of the national transport and logistics sector has been supported by increased public investment in the country's infrastructure over the period studied. The number of companies active in the transport and logistics field has risen sharply due to the construction of 1,800 kilometers of new roads, rail network expansion, and development of logistical and industrial zones. In recent years, Morocco's economy has grown due to improvements in transport and logistics infrastructure.
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.
In the last two decades, Saudi Arabia's spending on transport and logistics accounted for 10 % of the country's overall investment and 25 % of its investment budget, amounting to approximately MAD 40 billion (USD 3.97 billion).
In 2022, Morocco planned to connect two cities on its western flank, overlooking the Atlantic, with a rail project that could cost MAD 75 billion (USD 7.58 billion). Casablanca, Morocco's largest city, and Agadir, in the south, will be connected by the Express Train.
In November 2023, the European Investment Bank and the Mohammed VI Investment Fund entered into a contract in addition to the continuing Africa Investment Forum in Morrocco, pledging a substantial financial package of EUR 500 million (USD 538.5 million). Infrastructure projects and the establishment of innovative financing mechanisms for supporting Moroccan businesses will receive a large proportion of funding.
Growth In Ecommerce Sector Driving The Market
E-commerce in Morocco is promoted because there is an exemption from customs fees for the shipment of products such as jewelry, electronics, and clothing valued under MAD 1,250 (USD 125).
According to industry experts, Morocco's e-commerce revenue rose from USD 1.21 billion in 2022 to USD 1.38 billion in 2023 and is expected to grow to USD 1.61 billion in 2024.
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.
According to industry reports, the number of internet users in Morocco increased by 33.18 million, with an 88.1% Internet penetration rate early in 2023. The number of internet users in Morocco is also 15.98 million, indicating that almost 50% of internet users buy online.
