Morocco’s automotive sector topped the country’s industrial exports in the first eight months this year at 116.14 billion dirhams.
Exports of cars and parts increased 14.5% over the same period, while the automotive sector sales rose 21.5% to 23 billion dirhams.
This helped offset a deepening trade deficit by 25% to 282 billion dirhams, triggered by a 32% rise in energy imports to 96.3 billion dirhams.
Phosphates and fertilizers exports dropped 6% to 62 billion dirhams, amid supply disruption of key input, such as Sulfur, due to the war in the Gulf.
Tourism receipts and remittances from Moroccans abroad both posted a 9% rise to 97 billion and 90 billion respectively.
