With more than 65.1 billion dirhams worth of exports, the automotive sector came ahead of phosphates and derivatives (43.4 billion dirhams), textile (38.6 billion dirhams) food industry (13.4 billion dirhams) and other industries such as food and aerospace.
Morocco has created automotive industrial clusters employing some 85,000 and allowing an increase of the local sourcing rate of cars produced in Morocco to 50%.
French giants Renault and Peugeot launched investments in Morocco, which prepares to export 1 million cars by 2022.
Renault is now producing 12% of its cars globally in its Tangier factory. Peugeot is expected to launch production soon this year in its plant in Kenitra with a goal of reaching a production of 200,000 cars annually.
China’s Byd, is also on its way to launch production of electrical vehicles in the country.