Moroccan automotive exports reached MAD 75.08 billion ($8 billion) at the end of November 2021, according to the trade indicator report from the country’s Exchange Office.
By the end of last month, automotive exports grew by 12.8% compared to the same period in 2020. The office attributed the increase in revenue to the sales growth of 26.2% in the construction sector. Whereas the wiring sector witnessed a slight decrease of 1.1%.
After a slump in sales due to the ongoing COVID-19 crisis, Morocco’s automotive industry has notably rebounded this year. The report highlighted passenger car exports grew to 317,068 cars by the end of November, an increase of 12.8% compared to the same period in 2020.
Other important sectors of Morocco’s economy saw increases in the latest report. Phosphate sales stood at over MAD 69.19 billion ($7.4 billion) at the end of November, witnessing a 51.9% increase compared to the same period in 2020.
This positive indicator is attributed to the increase in sales of natural and chemical fertilizers by MAD 14.73 billion ($1.5 billion) as their prices also went up by 65.4%. The quantity of fertilizer exported fell by 8.6%.
Sales in Morocco’s textile and clothing sector stood at MAD 33.49 billion ($3.6 billion), compared to MAD 27.74 billion ($2.9 billion) in 2020. The increase is due to remarkable developments in exporting ready-made clothing by MAD 4.08 billion ($439 million) and knitted goods by MAD 1.57 billion ($169 million).
Exports in the agriculture sector increased by 10.2% while sales of the food industry reached MAD 3.37 billion ($363 million), the office concluded.