Rabat – The Oxford Business Group, a UK economic studies firm, reports an 87% rise in Morocco’s automotive production index during the last ten years.
In its new report, the Oxford Business Group reported on Morocco’s notable growth in industrial production. Morocco has become a home for hundreds of factories that produce textiles, electronics, chemicals and automobiles registering a significant growth in production.
According to the Moroccan daily newspaper Al-Massaa, OBG’s report underscored that in 2013 Morocco produced 108,743 automobiles, registering an 83% rise compared to the year before.
The report said that Morocco is ranked first in automobile production in North Africa, and second in the whole continent of Africa, behind South Africa.
More specifically, the automotive sector exports increased 17.5% in the first nine months of 2013, while automotive sales rose 85.3% (£963 millon) during the same period.
OBG noted that the automotive exports and production index are projected to rise more in upcoming years, especially after Renault’s new production line that was launched recently.
© Morocco World News. All Rights Reserved. This material may not be published, rewritten or redistributed
Edited By Eisabeth Myers