The Directorate of Financial Studies and Forecasts reported that the production of phosphate derivatives increased by 22% by the end of November 2024, following a 3.7% decline a year earlier.
In its latest economic report, the Directorate highlighted that during the first eleven months of 2024, the production of raw phosphate, a key component of the extractive sector, grew by 24.5%, compared to a 10.8% decrease the previous year.
Regarding external demand for the sector, exports of raw phosphate and its derivatives continued their strong growth until the end of 2024, recording increases of 49% and 13.9%, respectively.
In terms of value, phosphate exports rose by 10.1% and 13.5%, following previous declines of 42.2% and 32.5%.
By the end of 2024, revenues from phosphate and its derivatives reached 86.8 billion dirhams, reflecting an increase of 13.1%, in contrast to a 33.6% drop the previous year.
Additionally, the value of shipments of other extracted minerals rose by 2.3% by the end of 2024, compared to a 3.4% decline at the end of 2023.
