Morocco’s Automotive Exports Reached $4.76 Billion As of June

New data shows Morocco’s automotive sector’s exports reached MAD 42.33 billion or $4.76 billion in the first half of 2021.

Rabat – New data shows Morocco’s automotive sector’s exports reached MAD 42.33 billion or $4.76 billion in the first half of 2021.

The number represents a continuous positive trend in the sector, the Foreign Exchange Office said.

The main reason for this development is the 47.1% increase in assembly sales and the 36% growth in wiring sales.

The foreign exchange indicated that exports of the aviation industry dropped by 2.8% to stand at MAD 6.68 billion ($751,724) until the end of June 2021, compared to MAD 6.88 billion or $774, 231 during the same period in 2020.

Morocco considers the aeronautics and automotive industries among the key sectors in its economic pillars.

The successful outcomes followed the crisis experienced by both sectors following COVID-19.

Industrial activities were negatively impacted by the pandemic in 2020.

During the first half of 2020, the export of textiles and clothing increased by 351%. Sales of clothing were cited as the reason for the growth.

“This development was due to an increase in ready-made clothing sales by 43.1%,” the foreign exchange office statement said.

Exports of phosphates and their derivatives also increased to MAD 31.049 billion ($3.49 billion) or 23.8% as of June compared to MAD 25.081 billion ($2.82) in the same period in 2020.

The increase is mainly due to the rise in sales of phosphorus acid, natural, and chemical fertilizers.

Exports in the sectors of agriculture, food industry, and electronics increased by 6.5 % and 36.4%, respectively.