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Moroccan exports maintained their upward trajectory, reaching an estimated total value of 331 billion dirhams (MMDH) by the end of September 2024, Prime Minister Aziz Akhannouch announced in Rabat on Monday.
Speaking at the monthly oral question session in the House of Representatives on the theme of «the centrality of the foreign trade sector in the development of the national economy». Akhannouch stated that these revenues represented a 5.3% increase in value (+16.8 MMDH) compared to the same period in 2023.
This surge is primarily attributed to the growing international demand for Moroccan products, reflecting «the Kingdom's efforts to balance its trade balance, leveraging the immense potential of the automotive and aeronautics sectors».
In this context, he highlighted that 2023 was an exceptional year for Morocco's automotive sector, which reclaimed its position as the top exporting sector, with a significant export increase of over 28% (approximately 33 MMDH) compared to 2022.
The Prime Minister noted that automotive exports rose by a substantial 7% in the first nine months of 2024, reaching 115.4 billion dirhams. He also emphasized the burgeoning aeronautics sector.
Exports from the aeronautical industry achieved «satisfactory» results, with a significant 3.8% increase in 2023, amounting to 841 million dirhams. He added that the sector's exports continued to grow, with a 20% increase by the end of September 2024. This positive trend was driven by a 31% rise in assembly sales to 12.9 billion dirhams, along with increased wiring system sales.
Phosphate and its derivatives also showed a marked improvement, reaching 60 MMDH in the January-September 2024 period, up 11.3% year-on-year. He continued by noting that the development of the export basket indicates a shift towards greater diversification of the Moroccan economy.
He also pointed out that exports in the textile and clothing sector increased by 5% to 2.2 billion dirhams, totaling over 46 MMDH in 2023.
Regarding the electronics sector, it recorded a 21% growth in exports, representing an increase of around 3.2 billion dirhams. He explained that this growth was primarily due to increased sales of electronic components.
With respect to agricultural and agri-food exports, Akhannouch noted that, despite consecutive drought years, which led to a 15% decline in export volumes in 2023, their value maintained record levels, exceeding the 80 MMDH mark with a total value of 83.2 billion last year.
In this context, he indicated that the value of these exports amounted to 62.2 billion dirhams by the end of September 2024, positioning agriculture as the Kingdom's second most export-intensive sector.
He expressed optimism that these exports would further intensify in the future, thanks to the implementation of new water desalination units, notably the Dakhla project, scheduled for completion by the end of 2025, which will enable the cultivation of 5,000 hectares of new irrigated land.
In his view, the significant growth in agricultural exports was primarily due to the substantial rise in international prices of agricultural products, as well as efforts to diversify markets and enhance the quality of Moroccan products.
