Morocco’s Automotive Sector Exports Surge by 30.5% in 2023, Driving Economic Growth

2023-12-01 21:03:00
By The Economist | 01/12/2023 – 9:03 p.m. | Share

The Foreign Exchange Office reports notable growth in exports from the automotive sector, recording a significant increase of 30.5% at the end of October 2023 compared to the same period of the previous year, thus totaling 116.38 billion DH.

This increase is attributed to the increase in sales in the segments of construction (+10.87 billion dirhams), wiring (+9.64 billion dirhams), and vehicle and seat interiors (+1.91 billion dirhams). Sales in the electronics and electricity sector are also experiencing remarkable growth, reaching 19.33 BMD at the end of October 2023, an increase of 28.4% compared to the previous year at the same period.

However, the agri-food and agricultural sector recorded a slight drop in sales at the end of October 2023.

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