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Morocco’s phosphate exports increase by more than 81%

Sales of phosphates and derivatives increased by 81.1% to reach more than 68.77 billion dirhams for the first seven months of 2022, according to the Foreign Exchange Office. This development follows, mainly, the increase in sales of natural and chemical fertilizers (+22.79 billion dirhams) due to the price effect which more than doubled (8,823 dirhams/ton at the end of July 2022 against only 3,897 dirhams/ton at the end of July 2021), explains the Office which has just published its monthly indicators of foreign trade for the month of July, noting that, on the other hand, the quantities exported fell by 14.3%.

At the end of July 2022, exports of goods amounted to 246.08 billion dirhams against 174.95 billion dirhams a year earlier, an increase of 40.7% or +71.12 billion dirhams, indicates the Office, adding that this increase concerns all the sectors, at their head, phosphates and derivatives, the automobile sector, that of agriculture and agri-food and that of textiles and leather.

Thus, exports of the agricultural and agri-food sector amounted to 50.01 billion dirhams at the end of July 2022 against 40.56 billion dirhams for the same period of the previous year, an increase of 23.3% or +9,44 billion dirhams. This development is explained by the simultaneous increase in sales of the food industry (+27.8% or +5.52 billion dirhams) and agriculture, forestry and hunting (+18.5% or +3.67 billion dirhams).

Sales in the automotive sector show an increase of 31.6% amounting to 59.65 billion dirhams for the first seven months of 2022 against 45.33 billion dirhams a year earlier. For their part, textile and leather exports increased by 28.8% or +5.73 billion dirhams for the first seven months of 2022. This development is attributable to the increase in sales of the main segments of this sector. sector in this case, ready-made clothing (+31.2% or +3.84 billion dirhams), knitwear (+23.6% or +959 million dirhams) and shoes (+28,1% or +422 million dirhams).

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