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Rabat – Moroccan exports in the automotive sector reached MAD 83.78 billion ($8.94 billion) at the end of December 2021.
The number represents an increase of 15.9% compared to 2020, new data from the Moroccan Exchange Office said.
The office attributed the increase to rising sales in the construction segment (+35.2%) combined with a drop in wiring (-1.9%), and vehicle interiors and seats (-3.1%).
The office’s statistics suggest that the indicators also show that the number of passenger cars exported increased by 18.6% to 358,745 cars at the end of December 2021.
Morocco’s automotive industry is one of the sectors that contribute considerably to the country’s economy.
The Oxford Business Group recently estimated that the auto industry accounted for about 19% of Morocco’s GDP in 2019, and the group noted it expects the contribution of the industry to Morocco’s GDP will increase to about 24% by this year.
Other sectors
The exchange office also shared good indicators for sales of phosphates and derivatives sector.
Specifically, sales of phosphate-based products stood at MAD 79.89 billion ($8.52 billion) by the end of December 2021, indicating an increase of 57.1% compared to 2020.
“This development follows the increase in sales of natural and chemical fertilizers (+19.05 billion dirhams) [$2 billion],” the office said.
Sales of textiles and leather also witnessed an increase estimated at 21.6% in 2021.
“The development is attributed to the increase in sales of ready-made clothing by 24.8% and those of knitwear by 29.5%,” the office explained.
The agriculture and agri-food sector also improved by 9.2% due to the simultaneous increase in sales of foodstuffs by MAD 3.59 billion ($383 million).
