Automotive sector leads Morocco’s exports in January-August

The automotive sector continues to top Morocco’s exports in the first eight months this year at 10.3 billion dollars, up 7.6%, Morocco’s foreign exchange agency said.

Morocco is home to two production plants by Renault and Stellantis and has an ecosystem of parts producers as it has also attracted Chinese EV battery manufacturers.

Despite consecutive droughts, farming products came second in the list of Morocco’s top exports with 5.7 billion dollars, up 0.2%.

With the world’s largest phosphates deposits, Morocco’s exports of the mineral and its derivatives rose 11% to 5.5 billion dollars.

Most of the phosphates-derivatives exports were fertilizers at 3.9 billion dollars.

However, imports outweighed exports leaving a trade deficit of 3.2% at -196 billion dirhams or 20 billion dollars.