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Morocco’s Automotive Exports Surge to $8 Billion, Challenging Global Competitors

– byArmel · 1 min read
Morocco's Automotive Exports Surge to $8 Billion, Challenging Global Competitors

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.

Speaking before the Commission on Productive Sectors of the House of Representatives on Wednesday, the Minister of Industry, Trade, Digital and Green Economy, Moulay Hafid Elalamy, said that with a local integration rate of 60%, the kingdom is "a competitive force" in the automotive sector.

Morocco aspires to become the world’s leading competitor in the automotive sector, he said, adding that the Kingdom is already shaking up the hierarchy held by China and India.

In his presentation, the minister indicated that the kingdom exports 90% of the 700,000 cars produced annually in the country, the majority to the European continent.

Category: Economy
Keywords:
Exports Automobile Competitiveness Moulay Hafid Elalamy Revenue Ministry of Industry Trade and New Technologies Moroccan Dirham Coronavirus in Morocco (Covid-19)

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