Morocco’s Exchange Office reported this week that active exporters in growth-generating sectors for the Moroccan economy have recorded notable increases in activities since 2011, with the automotive sector achieving the highest growth rate in terms of the number of export transactions with an average annual growth rate of 33.9%.
In a study entitled “A multidimensional analysis of the development of the characteristics of active Moroccan exporters,” the Office stated that the number of active exporters in Morocco reached 4,309 actors in 2019, compared to 3,226 in 2011, with an average annual growth rate of 3.7%.
On average, these actors represented 62.1% of the total number of exporters in Morocco between 2011 and 2019, noted the study.
In terms of export turnover, active exporters achieved 99.3% of total export turnover during the same period, the office explained, noting that active exporters in Morocco are made up of 60.7% of very small and small exporters.
Analysis of these performances by sector shows that exporters active in the automotive sector achieved the highest growth in terms of export turnover with an annual growth rate of 33.9%.
The export turnover increased from MAD 3.8 billion ($300 million) in 2011 to MAD 39 billion (nearly $4 billion) in 2019 and their share in the overall export turnover increased by 11.6 points (2.2% in 2011 against 13.8% in 2019).
Meanwhile, active exporters in the agricultural sector recorded the largest increase in the number of active exporters with an annual growth rate of 8.7%, moving from 354 active exporters in 2011 to 691 active exporters in 2019.
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The chemical industry remains the biggest exporter in terms of turnover, with 18.1% of total export turnover during the same period. Sales in value increased from MAD 43.3 billion ($4 billion) in 2011 to MAD 51 billion ($5 billion) in 2019, recording an average annual growth rate of 2.1%.
The export turnover for the sector of electrical machinery manufacturing rose from MAD 21 billion ($2 billion) in 2011 to MAD 46.2 billion (around $5 billion) in 2019, reaching an average annual growth rate of 10.4%.
Taken together, these three sectors represent nearly half of the overall export turnover of Moroccan companies.
Moroccan exporters continue to show improvement in all sectors of activity. Between 2011 and 2019, the total number of Moroccan exporters increased from 5,179 exporters to 7,092 exporters with an export turnover of MAD 284.5 billion (nearly $30 billion) in 2019.
In 1987, Morocco launched a process of gradual liberalization of its foreign trade in order to successfully integrate the world economy.
Since then, Morocco has been focusing on diversifying its exportable offer and destination markets, as well as boosting exports in several sectors.
