Rabat: Morocco’s exports have maintained their upward trend, reaching an estimated total of MAD 331 billion at the end of September 2024, said the Kingdom’s Head of Government Aziz Akhannouch on Monday in Rabat. These revenues reflect a 5.3% (MAD 16.8 billion) year-on-year increase in value.
According to Agence Marocaine De Presse, Akhannouch highlighted that this growth is predominantly driven by the increasing international demand for Moroccan products, showcasing the Kingdom’s strategic efforts to balance trade through the robust potentials of the automotive and aerospace sectors.
The automotive sector, in particular, has had a stellar year in 2023, regaining its status as Morocco’s leading export sector. Exports in this sector surged by over 28%, amounting to approximately MAD 33 billion compared to the previous year. Automotive exports alone saw a 7% increase during the first nine months of 2024, totaling MAD 115.4 billion.
Akhannouch also pointed out the significant achievements in the aerospace indu
stry, which has benefited from the presence of several leading international manufacturers. Aerospace exports recorded a 3.8% rise in 2023, reaching MAD 841 million, and continued to grow with a 20% increase by the end of September 2024. This growth is largely due to a 31% rise in assembly sales, reaching MAD 12.9 billion.
Phosphate and its derivatives showed a noteworthy improvement, achieving MAD 60 billion in exports from January to September 2024, marking an 11.3% increase from the same period last year. This reflects Morocco’s ongoing efforts to diversify its export portfolio.
The textile and clothing sector also saw a rise, with exports reaching MAD 2.2 billion, representing a 5% increase and totaling over MAD 46 billion in 2023. Additionally, the electronics sector experienced a 21% growth in exports, contributing an additional MAD 3.2 billion, driven mainly by heightened sales of electronic components.
In the agricultural and agri-food sectors, despite a 15% drop in export volume in 2023 due to con
secutive years of drought, export values remained strong, exceeding MAD 80 billion and reaching MAD 83.2 billion last year. By the end of September 2024, the value of these exports was MAD 62.2 billion, making agriculture the second largest exporting sector in Morocco.
Akhannouch forecasted further intensification of agricultural exports with the completion of new water desalination projects, such as the Dakhla project expected by the end of 2025, which will facilitate the irrigation of 5,000 hectares of new farmland. The growth in agricultural exports is attributed to rising global agricultural product prices, market diversification, and enhanced quality of Moroccan produce.