Sales in the automotive sector reached almost 82.02 billion dirhams at the end of July 2023, up 37.4% on the same period a year earlier, according to Morocco’s Exchange Office. This development follows higher sales in all segments of the sector, namely construction (+31.4%/+9.08 billion dirhams), cabling (+43.9%/+7.87 billion dirhams) and vehicle interiors and seating (+36.2%/+1.48 billion dirhams), said the Office, which has published its monthly foreign trade indicators.

In parallel, sales in the electronics and electrical sector rose by 34.6% (+3.46 billion dirhams) to 13.48 billion dirhams at the end of July 2023, compared with 10.01 billion dirhams at the end of July 2022.

Textile and leather exports increased by 11.5% (+2.95 billion dirhams). This trend is attributable to higher sales of ready-made garments (+15.4%), hosiery (+5.2%) and footwear (+5.1%).

By contrast, sales in the agriculture and agri-food sector fell slightly in the first seven months of 2023, mainly due to a decline in food industry exports (-2.2%).

Sales in the agriculture, forestry and hunting sector remained stable, while those in the aeronautics sector decreased by 1%.

Exports of phosphates and derivatives stood at 40.86 billion dirhams at the end of July 2023, compared with 68.37 billion dirhams a year earlier. This trend is due to lower sales of natural and chemical fertilizers (-36.5%), phosphoric acid (-46%) and phosphates (-53%).

It should be noted that the level recorded at the end of July 2023 remains higher than those recorded during the same period between 2019 and 2021.

Source: Agency Morocaine De Presse