Morocco’s Automotive Exports Surge 27% to $14 Billion, Boosting Economy

This increase in automotive exports is justified by a rise in sales in the construction (+12.48 billion dirhams), wiring (+11.32 billion) and powertrain (+2.29 billion) segments, according to the Foreign Exchange Office in its recent monthly bulletin cited by the weekly La Vie Éco.

At the end of December 2023, electronics and electrical sales amounted to 23.86 billion dirhams, an increase of 28.4%, compared to a 5% increase for textile and leather exports (+6.9% for garment sales and +5.4% for knitwear). However, shoe sales fell by 6.2%.

As for the aeronautics sector exports, they recorded a 2.4% increase, reaching nearly 21.85 billion dirhams. Sales remained relatively stable in the agriculture and agri-food sector, due to the slight decline in food industry sales (-1.8%) and the increase in fishing and aquaculture sales (+7.2%).

As for exports of other mining products, they fell by 3.4%, with sales of phosphates and their derivatives going from 115.48 billion dirhams in 2022 to 76.14 billion dirhams at the end of December 2023. A trend due to the decline in sales of natural and chemical fertilizers (-30.7%), phosphoric acid (-43.5%) and phosphates (-38%).