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Morocco’s Automotive Exports Surge 25.5% to Record $5.2 Billion Through August

– byArmel · 1 min read
Morocco's Automotive Exports Surge 25.5% to Record $5.2 Billion Through August

The Moroccan automotive industry has reached a record high in exports. At the end of August, the figures reached 52.25 billion DH, an increase of more than a quarter (+25.5%) year-on-year.

This increase in automotive sector exports is explained by the increase in sales of the construction segment (+32% or +5,291 MMDH) and those of the wiring segment (+16.5% or +2,452 MMDH), indicates the monthly note of the foreign exchange office.

Phosphate and derivative shipments come second with 46.312 billion DH (+42.2% year-on-year). This is also a record for the similar periods of the last 4 years. A performance attributed to both natural and chemical fertilizers, phosphoric acid and phosphates.

As for textile and leather exports, their "evolution is due to the increase in sales of ready-made garments by +3,064 MMDH and those of knitwear articles by +1,268 MMDH," explained the Office, noting however that these remain below those achieved during the same period from 2017 to 2019.

Category: Economy
Keywords:
Textile Exports Automobile Phosphates

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