Categories: Economy International Morocco

Morocco Is Among Top 5 Sources of Cars Imported to EU

Morocco’s automobile exports to the EU market jumped 17 percent in one year.

Rabat – Morocco was among the top five sources of European car imports by number of imports in 2018, according to the latest report by the European Automobile Manufacturers Association (ACEA).

Morocco ranked fifth, exporting 283,614 units. Moroccan-made cars account for 7.8 percent of all cars exported to the EU.

Turkey ranks first with 784,000 units, followed by Japan with 683,000 units, South Korea with 540,000 units, and China with 319,000 units. After Morocco, Mexico was the sixth highest exporter to the EU with 271,000 units.

Morocco’s car exports to the EU increased 17 percent over 2017, when it exported 240,908 cars.

In terms of value, however, the automotive giants overshadowed Morocco.

Japan, in the lead, sold €9.9 billion worth of cars in the EU. Turkey followed with €8.7 billion, South Korea with €7.1 billion, the US with €5.5 billion, Mexico with €5.2 billion, and South Africa with €4 billion.

The six countries account for almost 90 percent of the total value of cars that the EU imported last year.

Morocco held a high market position in terms of value for utility vehicle and bus exports.

Read also: EBRD Grants Morocco €7.5 million to Support Automotive Sector

In 2018, it sold €234 million worth of this type of vehicle in the EU, compared with €201 million in 2017, a rise of 16.6 percent. Morocco ranked fourth behind Turkey, South Africa, and Thailand.

Last year, 79 million cars were sold worldwide, a slight drop of a fraction of a percentage point compared to 2017.

In 2018, EU car export volumes fell slightly by 1.6 percent, while imports surged by 9.3 percent.

The ACEA is one of the main industry organizations in the EU. It was originally founded in 1972. It represents major market players such as BMW, Ford, Honda, and Renault.