Moroccan Automotive Exports Increased by 4.1% in February 2021

Rabat – The amount exported by Morocco’s automotive industry increased by 4.1% in February 2021 compared to the same month the previous year, with a value of more than MAD 15 billion ($1.5 billion).

Morocco’s Exchange Office said in a report on Friday that this growth was thanks to an 8.6% year-on-year increase in manufacturing sales.

But the increase was coupled with a 3.7% sales drop in the wire and cable sector in February 2021, compared to February 2020.

There was also a fall in sales in the aircraft cabin interior market by 2.2% for the same period.

Morocco’s automotive industry is one of the most important economic sectors in the country.

With a production capacity of 700,000 automobiles per year, Morocco dominates the African automotive sector, which includes planes, trains, ships, and cars.

This sector’s share of total Moroccan exports grew by 2%, from 29.7% at the end of February 2020 to 31.7% at the end of February 2021.

Other sectors

The amount of phosphorus and phosphorous derivatives exported by Morocco in February 2021 grew by 7.9%, compared to the same period in the previous year.

The value of the country’s exports of phosphorus and phosphorous derivatives reached MAD 7.14 billion ($760 million) in February last year.

The north African country is a leader in phosphate production, and many countries such as the United States and Spain rely on Morocco’s minerals.

The value of exports in the leather and textile sector reached MAD 5 billion at the end of February 2021, down 17.5% from MAD 6.17 billion ($640 million) a year earlier.

This downward trend is mostly attributed to a drop in ready-to-wear clothing sales by 18% (-MAD 685 million) and footwear sales by 29.6% (-MAD 186 million).

Like other tourism-related businesses, Moroccan leather artisans have been heavily hit by the COVID-19 crisis and the closure of borders.

The main buyers of local artisans’ leather products are foreign tourists and Moroccans residing abroad.

This sector’s share of total Moroccan exports decreased by 1.8%, from 10.3% at the end of February 2021 compared to 12.1% at the end of February 2020.

The office also indicated that total exports dropped by 2.5% at the end of February 2021 to a total value of MAD 49.62 billion ($5 billion), compared to MAD 50.86 ($760 billion) billion in the same period of the previous year.