MOROCCO AUTOMATIVE EXPORT INCREASED BY 34.9%

The volume of Morocco’s automotive exports reached MAD 77.7 billion ($7.11 billion) during the first nine months of 2022.

The number represents an increase of 34.9% compared to the same period in September 2021, according to new statistics from Morocco’s exchange office.

The increases concern the sale of car parts, and cables (56.2 % and 20.8%, respectively). The data shows that exports of automotive interior parts and seats remained “almost stable.”

The automotive sector is one of the key pillars of Morocco’s growing economy. 

Manufacturing Global, a magazine that covers the manufacturing industry, said in October 2021 that the automotive sector could contribute “as much as 24%  to Morocco’s GDP by 2022.

According to statistics from Morocco’s High Commission for Planning (HCP), the industry created over 200,000 jobs in 2021. 

Despite the importance of the sector, the automotive industry is not immune from the global and domestic inflation crisis.

In August, the Association of Vehicle Importers in Morocco reported that the sales of new cars in Morocco fell by more than  11%, standing at 95,544 units sold at the end of July 2022.
AVIAM said the drop in overall sales was estimated at 12.3% in the month of July, compared to the same month of 2021. Passenger vehicle sales recorded a drop of 10.3% this month, with 10,592 units sold, compared to 11,814 units in the same period last year.

SOURCE: MoroccoWorldNews