The head of government specified that a significant increase of 7% in exports from the automotive sector was recorded during the first nine months of 2024 (i.e. 115.4 billion dirhams), noting also that we are witnessing a notable boom in aeronautics which took advantage of the Kingdom’s potential.
Moroccan exports maintained their upward curve, reaching a total value estimated at 331 billion DH at the end of September 2024, the Head of Government, Aziz Akhannouch, indicated on Monday in Rabat.
Speaking during the monthly session of oral questions in the House of Representatives devoted to the theme “the centrality of the foreign trade sector in the development of the national economy”, Akhannouch specified that these revenues represent an increase in value of 5 .3% (i.e. +16.8 billion DH) compared to the same period of 2023.
This progression is mainly attributable to the increase in demand for Moroccan products in international markets, an observation which reflects “the efforts of the Kingdom in favor of balancing the trade balance, thanks to the enormous potential offered by automotive and aeronautics sectors.
He noted in this context that 2023 constitutes an exceptional year for the automotive sector in Morocco, which has regained its leading position as the first exporting sector, with a significant increase in exports exceeding 28%, an increase of approximately 33 Billions of DH compared to the year 2022.
The head of government specified that a significant increase of 7% in exports from the automotive sector was recorded during the first nine months of 2024 (i.e. 115.4 billion dirhams), noting also that we are witnessing a notable boom in aeronautics which has taken advantage of the Kingdom’s potential in terms of the establishment of numerous renowned foreign manufacturers, resolutely part of the dynamic at work under the leadership of His Majesty the King Mohammed VI.
Exports of the aeronautics industry have indeed achieved “satisfactory” results, with a significant increase of 3.8% in 2023, for a value of 841 MDH, he added, noting that exports of the sector have continued their progress, with an increase of 20% at the end of September 2024. This positive development is due to the 31% increase in sales in the assembly category, to reach 12.9 billion of DH, as well as sales of cabling systems.
For exports of phosphate and its derivatives, they recorded a significant improvement, amounting to 60 billion DH during the period January-September 2024, an increase of 11.3% compared to the same period of the year. ‘previous year,’ he continued. The development experienced by the export basket reveals that the Moroccan economy is moving towards greater diversification.
He also noted that exports from the textile and clothing sector increased with 2.2 billion DH (+5%), for a total value of more than 46 billion DH in 2023.
As for the electronics sector, it recorded a growth of 21% in its exports, an increase of around 3.2 billion DH, he said, explaining that this progression is mainly due to increase in sales of electronic components.
As for agricultural exports and the agri-food industry, Akhannouch noted that despite the succession of years of drought, causing a decline in the volume of exports of 15% in 2023, their value has maintained record levels to exceed the threshold of 80 billion DH with a total value of 83.2 billion last year.
In this context, he indicated that the value of these exports amounts to 62.2 billion dirhams at the end of September 2024, a performance which positions agriculture in second place among the most exporting sectors in the Kingdom.
These exports will, according to him, be increasingly intensified in the future thanks to the establishment of new water desalination units, in particular the Dakhla project whose completion is scheduled for the end of 2025, which will make it possible to cultivate 5,000 hectares of new irrigated land.
He estimated that the significant evolution of agricultural exports is explained, mainly, by the significant increase in the prices of agricultural products on international markets, as well as by the efforts made in terms of of diversification of markets and improvement of the quality of Moroccan products.
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