Rabat – In the first half of 2024, Morocco’s aeronautical sector saw exports surpass MAD 12.97 billion ($1.3 billion), a 16.5% rise from the previous year, according to the Office of Foreign Exchange.
This increase is primarily driven by a notable boost in sales within the assembly segment, which soared by 27.7% to reach MAD 8.44 billion ($858 million).
Meanwhile, Electrical Wiring Interconnection Systems (EWIS) sales saw a modest decline of 0.1%, amounting to MAD 4.46 billion ($453 million), according to the same source.
The report also notes a 9% rise in automotive exports, which reached MAD 80.54 billion ($8,20 million). This growth is credited to increased sales across various segments, including vehicle interiors and seats (+18.9%), construction (+8.4%), and wiring (+8.2%).
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Exports from the phosphate and derivatives sector grew by 7.5%, reaching MAD 38.56 billion ($4 million). This growth was fueled by a 31.5% increase in phosphate sales and a 6.5% rise in natural and chemical fertilizers.
In contrast, exports from several other sectors experienced declines. Textile and leather exports dropped by 7.2% to MAD 23.44 billion ($2.4 million), and other mining extractions fell by 5.2% to MAD 2.67 billion ($271 million).
Exports of electronics and electricity decreased by 4.4%, totaling MAD 8.65 billion ($880 million), while agriculture and agri-food exports fell by 2.6%, reaching MAD 46.23 billion ($4.7 million).
Morocco aims to double its aerospace sector jobs by 2030, as stated by Industry and Trade Minister Ryad Mezzour at the Farnborough International Airshow in July.
“Following King Mohammed VI’s vision for the aerospace sector, Morocco has established itself as a key player, demonstrating its capabilities across all levels of production,” Mezzour stated to MAP on the sidelines of the Farnborough Airshow.
“This signifies a new industrial era focused on sovereignty, creating quality jobs, and advancing the sector,” he added.
In the first five months of this year, Morocco’s aerospace sector generated MAD 10.68 billion ($1 billion) in revenue, marking a 17.6% increase from the same period last year.
