Morocco’s Automotive Exports Surge 38.9% in Q1 2021, Boosting Economy

In its bulletin on external exchange indicators for March 2021, the office reveals that the current situation is mainly due to the increase in sales in the construction segment (51.9%) and those in the wiring segment of 23.4%.

The same source notes that during the same period, the Moroccan economy was enriched by 13.4 billion dirhams representing exports of phosphate and derivatives, which also increased by 21.7%. At the origin of this increase is mainly a surge in sales of phosphoric acid (+1.5 MMDH) and those of natural and chemical fertilizers, which brought in 879 million dirhams. With a growth of 21.5%, the electronics and electricity sector is not left out in terms of good performance.

Beyond all these achievements, the upward curve of exports is pulled down by sales in the aerospace (-17.3%), textile and leather (-5.5%) sectors due to the drop in sales of ready-made garments of 7.1% and shoes 19.5%.

Remained stable at the end of March 2021, the agricultural and agri-food sectors recorded an increase in agricultural product sales and good performance in forestry. This qualitative leap received a shock in the level of food industry sales with a decrease of 1.9%, according to the office.