Morocco’s Aerospace Exports Reach $2.16 Billion with 17.3% Growth in 2024

Morocco’s export performance has surged in the aerospace and automotive sectors during the first ten months of 2024, according to the Foreign Exchange Office.

Rabat – Morocco’s export performance has surged in the aerospace and automotive sectors during the first ten months of 2024, according to the Foreign Exchange Office.

Morocco’s aerospace sector saw a strong performance, with exports reaching MAD 21.86 billion ($2.16 billion), marking a 17.3% growth compared to 2023.

This growth was driven by a 26.9% increase in the assembly segment, which hit MAD 14.26 billion ($1.43 billion).

During the 7th Marrakech Air Show (MAS 2024), Industry and Trade Minister Ryad Mezzour noted that Morocco’s political stability, robust infrastructure, strategic location, skilled workforce, and favorable business environment make it a reliable aerospace partner and a growing regional hub.

He also mentioned the country’s ambitious goal to double aerospace sector employment by 2030.

Meanwhile, exports of Electrical Wiring Interconnection Systems (EWIS) rose modestly by 2.6%, totaling MAD 7.51 billion ($761 million).

Phosphate and automotive industries drive the growth

Phosphate and its derivatives also contributed significantly, with exports rising 12.5% to MAD 68.34 billion ($6.87 billion).

Fertilizers were the standout product, accounting for MAD 49.37 billion ($4.97 billion) of this total, followed by MAD 11.32 billion ($1.14 billion) in phosphoric acid and MAD 7.65 billion ($770 million) in raw phosphates.

The automotive industry maintained its strong position as Morocco’s top export sector, reaching MAD 131.35 billion ($13.28 billion), an 8% increase.

Growth in this sector was fueled by higher sales in vehicle interiors and seats (+20.9%), wiring (+7.9%), and vehicle construction (+6.9%).

As the country diversifies its industrial base, these trends reflect both opportunities and areas needing further development.