Key Market Indicators
Morocco's nickel export is projected to reach approximately $2.3 million by 2028, up from around $1.9 million in 2023. This represents a compound annual growth rate (CAGR) of 2.9%. Since 1998, the country's nickel supply has seen an annual increase of 2.2%. In 2023, Morocco ranked 47th in nickel exports, with India surpassing it at the same figure of nearly $1.9 million. The leading countries in this ranking were Canada, Russia, and Malaysia, occupying the second, third, and fourth spots, respectively. On the import front, Morocco's nickel imports are expected to decline to about $4.5 million by 2028 from roughly $5.4 million in 2023, marking an average annual decrease of 2.7%. Despite this downward trend, Moroccan demand for nickel has surged by 18.1% annually since 1998.
