Morocco’s Automotive Exports Surge 30% to $13 Billion, Driven by Parts and Electronics

In its latest bulletin on monthly foreign trade indicators, the Foreign Exchange Office justifies this upward trend by the increase in sales in the construction segment (+12.64 MMDH), wiring (+10.42 MMDH) and vehicle interiors and seats (+2.19 MMDH). Sales in the electronics and electrical sector also recorded an increase of 27.3% to 21.3 MMDH during the period.

The Office also notes an increase in textile and leather exports of 5.7%, driven by the increase in sales of ready-made garments (+7.4%) and knitwear (+5.9%). As for shoe sales, they fell by 4.6%. Meanwhile, quasi-stability is observed in the level of aerospace exports, with around 19.64 MMDH at the end of November 2023.

Sales in the agriculture and agri-food sector, on the other hand, experienced a slight decline, due to the drop in sales in the food industry (-0.8%) and agriculture, forestry and hunting (-0.7%). As for exports of other mining, they fell by 1.7%.

At the end of November, phosphate and derivative sales stood at 67.22 MMDH compared to 108.39 MMDH a year earlier. A decline explained by the drop in sales of natural and chemical fertilizers (-35.3%), phosphoric acid (-44.2%) and phosphates (-43.6%).