Morocco generated $13.7 billion from exported cars and produced 535,825 cars in 2023. The country exported $11 billion worth of cars and produced 464,864 cars in 2022-2023. Exports show a growth of 30.2% compared to the same period a year earlier, according to the Foreign Exchange Office.
This development is driven by the increase in sales in the construction and wiring segments, and in vehicle interiors and seats, explains the Foreign Exchange Office.
The Moroccan automotive sector’s export record achieved in 2022 with more than 111 billion dirhams is therefore broken. The bar of 130 billion dirhams in export sales is exceeded, or 13 billion dollars. The automobile industry also becomes the Kingdom’s leading export sector ahead of phosphates. This double-digit annual growth positions the Cherifian Kingdom as a strategic African platform in the production and export of automotive equipment and vehicles.
Morocco is now the leading exporter of cars to the European Union, ahead of China, Japan and India, while it is already the leading producer of cars on the African continent. A position strengthened by the establishment of foreign groups such as Renault, Snop, GMD, Bamesa, Delphi, Yyazaki, Sews, Saint-Gobain and more recently Stellantis (formerly PSA). The automobile industry is the country’s leading export sector ($8.4 billion, driven mainly by the increase in sales in the construction segment).
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