Morocco’s Automotive Exports Surge to 57 Billion Dirhams, Driving Economic Growth

The Minister of Industry and Trade, Ryad Mezzour, indicated, during an intervention at the House of Representatives on Monday, July 3, that exports in the sector will climb to 138 billion dirhams by the end of the year.

This dynamism of the automotive sector reflects its rise in recent years, and confirms its crucial role as a "real engine" of growth and job creation, in the words of the minister. In total, the sector generates more than 230,000 jobs in 260 factories spread across the national territory, with, in addition, 60 ongoing factory construction projects.

The minister also notes that the growth of the automotive sector is supported by the presence of factories of major international brands, such as Renault, PSA (Peugeot-Citroën), Ford and Volkswagen, which have established partnerships with Moroccan companies. According to the latest statistics from the Office des Changes, the sector has seen a 40% increase in its exports in the first five months of 2023, a trend that seems well on its way to continuing.

In addition, Ryad Mezzour also mentioned the performance of the Moroccan textile sector, in response to a question from an RNI deputy. The minister highlighted the 1,600 companies in the sector, generating a total turnover of 60 billion dirhams and reaching a record 44 billion dirhams in exports in 2022. He also mentioned that 173 investment projects are currently under study to improve the competitiveness of the sector internationally.