Morocco, Africa’s leader in car manufacturing – Sky News Arabia
Morocco, thanks to its potential, has been able to achieve record levels in the automotive industry, said the news channel on its website, noting that this has allowed the Kingdom to be on the list of top ten countries in this area, not only in terms of number of cars produced, but also in the rate of local integration, which stands at 60%.
Citing recent data from Morocco’s Foreign Exchange Office, the channel reports that the Kingdom’s automotive sector exports increased by 4.1% in February 2021, reaching a value of about 15.74 billion dirhams, and that the volume of exports of the sector at the end of 2021 reached nearly 22 billion dirhams, compared to 16 billion dirhams in the third quarter of 2020, an increase of 40%.
This confirms the strength of the automotive industry in Morocco and the ability of the Kingdom to revitalize despite the global economic situation, the TV channel notes.
These figures are strong indicators of the attractiveness and flexibility of the Moroccan platform of the automotive sector, which, despite the difficult global situation, has managed to maintain its competitiveness and preserve the confidence of global players in the sector, and quickly recover its momentum with the economic recovery, says Sky News Arabia.
According to Yassin Ennsairi, member of the Researchers Forum at the Ministry of Economy and Finance, this positive development of the automotive industry is due to the work done by Morocco to create all the conditions conducive to attracting international industrial companies, and this by improving the business climate and providing all the conditions required in terms of advanced infrastructure and manpower.
The channel also quoted researcher in economics and international trade at Hassan I University in Settat, Mustafa Khayati, as saying that “the automotive sector has made Morocco a distinguished exporter and that Moroccan exports of cars have exceeded those of phosphate, and most other sectors.
According to the foreign trade statistics published on February 1,2022, in 2021, exports of the automotive sector in Morocco total 83.78 billion, up 15.9% compared to 2020. The previous record, which dates from 2019, has therefore been beaten.
Despite the disruptions in the sector’s global supply chains, which translate into difficulties in the supply of electronic components, the Moroccan automotive industry achieved exceptional export performance in 2021.