Morocco’s Auto Industry Hits Export Record, Boosting Economy

Exports are up 34.9% compared to last year, the Foreign Exchange Office said in its monthly indicators of foreign trade, adding that this good health is attributable to the increase in sales in the construction segment (+56.2%) and those of the wiring segment (+20.8%). On the other hand, exports of the vehicle interior and seat segment remain almost stable, it is noted.

Phosphate and derivative shipments are in second place with 91.8 billion dirhams, up 66.6%. This performance is attributed to both natural and chemical fertilizers, phosphoric acid and phosphates.

At the same time, exports from the agricultural and agri-food sector amounted to more than 61.36 billion dirhams at the end of September, up 20.8% compared to the same period in 2021. This increase is attributable to the simultaneous increase in food industry sales (+22.4%) and those of agriculture, forestry and hunting (+18.5%).

As for textile and leather exports, the figures have increased by 26.7%, driven by the increase in exports of ready-made garments (28.8%), footwear (29.9%) and to a lesser extent knitwear, the Foreign Exchange Office said.