Moroccan Auto Exports Soar to New Heights in 2023

In 2023, the automotive sector in Morocco achieved a significant milestone, with exports surpassing 130.64 billion dirhams as of November, showing a substantial 30.2% increase from the same period in the previous year, as stated by the Bureau de Change.
This surge in exports has been credited to heightened sales in construction, wiring, and interior vehicle segments, which have contributed to the sector’s outstanding performance. This achievement has surpassed the previous record of 111 billion dirhams in 2022, positioning the automotive industry as the leading export sector in the North African country, surpassing phosphates. With December’s figures yet to be included, total export sales for the year are anticipated to reach an impressive 140 billion dirhams.
Furthermore, alongside the automotive sector, other industries have also seen positive growth in exports. Electronics and electricity experienced a notable surge of 27.3%, reaching 21.3 billion dirhams by the end of November 2023. Meanwhile, aeronautics exports remained relatively stable, totaling nearly 19.64 billion dirhams during the same period.
The textile and leather sector also witnessed a 5.7% increase in exports, driven by higher sales in ready-made garments and knitwear, offset by a slight 4.6% decrease in footwear sales. On the other hand, the agriculture and agri-food industries experienced a marginal decrease, attributed to lower sales in the food industry and agriculture, forestry, and hunting.
Additionally, exports of other mining and quarrying experienced a 1.7% decline, with sales of phosphates and derivatives dropping from 108.39 billion dirhams in November 2022 to 67.22 billion dirhams in November 2023. This decrease has impacted sales of natural and chemical fertilisers, phosphoric acid, and phosphates, with declines of 35.3%, 44.2%, and 43.6%, respectively.