Morocco remains a vast commercial and strategic base for the Renault Group. In the first half of 2021, the Kingdom ranks, for the first time, in the Top 10 of the Renault Group’s main markets worldwide.
The economic dynamism recorded in recent years has had a clear impact on Morocco’s foreign exchange reserves . They have improved significantly over the 2017-2021 period, providing foreign exchange guarantees that amounted to 320.3 billion dirhams (MMDH) in 2020.
Automotive exports reached 35.4 billion dirhams during the first five months of 2021, an increase of 49.5% compared to the same period in 2020.
Morocco will record a current account deficit of 3.8% of GDP at the end of this year before easing to 2.6% in 2022. Driven by the automotive, electronics or phosphate sectors, exports are expected to grow by 14.5% in 2021, then increase by 5.6% in 2022.
Morocco is considering retaliatory measures against Egypt, accusing it of pursuing a "blocking" policy against Moroccan products. A situation that costs the kingdom some 6 billion DH annually.
The automotive sector is booming despite the Covid crisis. Exports generate a turnover of 80 billion dirhams. With a high production capacity of high-quality vehicles, the kingdom aspires to compete with countries like India and China.
The "unfair competition" from Morocco and other third countries would cause losses of around 25 million euros to tomato producers in Almeria. This is what the agricultural organization ASAJA indicated on Wednesday, which is asking Europe to "guarantee" the strict respect of trade agreements with the kingdom.
Spain is concerned about Morocco’s agricultural development in the Sahara. The kingdom plans to use 5,000 hectares of greenhouses in this region over the next decade to compete with Murcia and Almeria in the European fruit and vegetable market.
An Israeli government insurance company has released a significant sum of money for its exporters to Morocco. An allocation that will allow them to be insured.
The Moroccan Association of Avocado Producers "MAVA" is rising up against the smear campaign that Spanish farmers are waging against Moroccan avocado, highly prized on the European community market. On Wednesday, it received the support of the Moroccan Confederation of Agriculture and Rural Development (COMADER), which swept away all the accusations of the Spanish farmers.
Saffron cultivation has experienced a real boom in the kingdom in recent years in Morocco, far exceeding the planned estimates. Commonly called "red gold", this product is the stigma of the crocus flower whose price, supposed virtues, the share of mystery, create a certain enthusiasm and attract many farmers.
Moroccan tomatoes imported to the EU market threaten Spanish tomatoes, whose production curve has been plummeting for a few years.