Morocco’s automotive exports have exceeded the country’s phosphate exports, which are a major contributor to Morocco’s trade balance, announced on Monday Minister of Industry and Trade Moulay Hafid Elalamy.
“The added value of the automotive industry in Morocco is higher than that of phosphate,” he said during a parliamentary session about the situation of Moroccan industry.
In 2019, Morocco’s automotive exports stood at $10.5 billion, representing approximately 25% of the country’s total exports.
Meanwhile, Morocco’s revenue from phosphate and its derivatives reached approximately $5.92 billion.
The figures, according to Elalamy, prove that the Moroccan automotive industry is growing at an exponential rate and will soon become a global leader.
“There are now only two countries that surpass us in terms of competitiveness: China and India,” the minister said.
However, in terms of quality, Elalamy believes that Morocco’s automotive sector has already surpassed India’s.
“The quality of the Moroccan automotive industry is better than that of India, and I assume the responsibility of what I’m saying,” he declared.
In a very optimistic presentation, Elalamy stressed the importance of focusing on both competitiveness and quality in order to attract foreign investments and further boost the local automotive industry.
“It is competitiveness and quality that will protect the industry and jobs in Morocco. We should not beg companies to invest here. It is them who need to ask about investing here because our quality and our competitiveness are the best,” he concluded.
In September, Elalamy made similar statements hailing Morocco’s automotive sector and expressing the country’s determination and potential to become the first automotive hub in the world.
The minister forecast such success based on the achievements of Moroccan industry during the COVID-19 crisis.
“If the country was able to produce respirators, intensive care beds, and other necessities in mere weeks, imagine what we could do over time,” Elalamy said during an interview with local newspaper Finances News Hebdo.