Exports from Morocco’s automobile sector climbed significantly during the first eight months of this year, reaching more than 90.4 billion dirhams, according to Morocco’s foreign exchange regulator, the “Office des Changes” latest bulletin on monthly indicators of international trade.
This significant 35.6% increase over the same period in 2022 is attributed to higher sales in all segments of the automotive industry. Specifically, the manufacturing segment increased by 9.76 billion MAD, followed by the wiring segment at 8.28 billion MAD and the interior vehicle and seat manufacturing segment at 1.6 billion MAD.
In parallel, the electronics and electricity sector experienced a 32.8% increase, reaching 15.18 billion MAD as of August 2023. Meanwhile the textile and leather industries saw 9.2% growth, driven by higher sales in ready-made garments (+12.1%), knitwear (+4.9%), and footwear (+1.8%).
In contrast, exports from the aerospace sector declined by 3.7%, equivalent to about 13.65 billion MAD.