Automotive industry: exports at more than MAD 100 bln at end of November

Sales of the automotive sector amounted to 100.37 billion dirhams in the first eleven months of the year 2022, up 35% compared to a year earlier, according to the Exchange Office.

These exports cross for the first time the mark of 100 billion dirhams, said the Office which has published its recent monthly indicators of foreign trade.

This increase concerns sales of the construction segment (+46.2%), those of the wiring segment (+27.6%) and to a lesser extent those of the segment of the vehicle interiors and seats (3.4%), said the same source.

Regarding the sales of phosphates and derivatives, they have increased by 54.8% to 108.04 billion dirhams at the end of November 2022 against MAD 69.78 billion at the end of November 2021.

This increase is the result of the rise in exports of natural and chemical fertilizers (MAD +30.024 bln) due to the price effect that has almost doubled, explained the Office, adding that, on the other hand, the quantities exported fall by 12.1%.

In parallel, exports of the agricultural and agri-food sector are established at more than MAD 73.8 billion at the end of November 2022, i.e. an increase of 18.3% compared to the same period of 2021.

This development is explained by the simultaneous increase in sales of the food industry (+21.8%) and agriculture, forestry and hunting (+13.7%).

For their part, exports of textiles and leather rose by 22.2% (MAD +7.43 billion) in the first eleven months of the year, due to increased sales of ready-made garments (+23.2%), hosiery (+14.4%) and shoes (+33.2%).