Join on WhatsApp
Join on Telegram
Rabat – Morocco’s automotive sector continues to accelerate, strengthening its status as the nation’s top export industry. In the first half of the year, automotive exports surged by 8.5%, reaching MAD 92.7 billion ($9.6 billion), according to recent data from the Office des Changes.
This growth was bolstered by significant gains in the construction and wiring segments, which saw exports rise by 7.3% and 8.3%, respectively.
The nation’s broader export landscape also reflects this upward trend, with the phosphates and derivatives sector experiencing a robust 14.1% increase in exports, totaling MAD 46.16 billion ($4.8 billion).
Within this sector, natural and chemical fertilizer shipments saw an 11.2% boost, reaching MAD 33.5 billion ($3.5 billion). Notably, exports of phosphate and phosphoric acid climbed by 49.4% and 10.3%, respectively.
However, not all sectors shared in the export boom. The agriculture and agri-food sector saw a slight decline, with exports down 0.9% to MAD 51.1 billion ($5.3 billion).
Similarly, the textiles and leather industries experienced a 2.1% drop in exports, amounting to MAD 27.9 billion ($2.9 billion). The electronics and electricity sector also faced challenges, with exports dipping by 2.6%.
Meanwhile, Morocco’s aerospace industry continues its ascent, with exports soaring by 20.3% to MAD 15.34 billion ($1.6 billion). This growth was primarily driven by the assembly segment, which recorded a substantial 32.4% increase in shipments.
Overall, Morocco’s total exports rose by 5.5% in the first six months of the year, reaching MAD 262.4 billion ($27.2 billion). However, this was outpaced by a 15.5% increase in imports, which climbed to MAD 415.8 billion ($43.1 billion).
The widening trade deficit, now approaching MAD 170 billion (USD 17.6 billion), underscores the pressure from rising imports of finished equipment products, particularly electric cars, which saw nearly a 50% surge in imports, amounting to MAD 6.3 billion (USD 654 million).
