Automotive Sector Exports Exceed MAD 75 Billion at End of November

According to the Office des Changes, car exports totaled MAD 75.08 billion at the end of November 2021, up 12.8 percent from the same period in 2020. (Exchange office).

This is attributable to a 26.2 percent growth in sales in the building segment, according to the Office, which released its monthly foreign trade indicators for November, noting that sales in the wire segment fell marginally by 1.1 percent.

Furthermore, the Office said that the number of passenger automobiles exported increased by 12.8% to 317,068 vehicles at the end of November 2021.

Phosphate and derivatives sales were over MAD 69.19 billion at the end of November 2021, up 51.9 percent from the same period in 2020. This outcome follows a 65.4 percent increase in natural and chemical fertilizer sales (+MAD 14.73 billion) due to the pricing effect. Meanwhile, the amount of this product exported decreased by 8.6%.

The textile and leather sector generated MAD 33.49 billion in sales, up from MAD 27.74 billion the previous year. Exports of ready-made clothing (+MAD 4.08 billion), hosiery (+MAD 1.57 billion), and, to a lesser extent, shoes (+MAD 181 million) have all increased.

Agriculture and agribusiness exports, on the other hand, climbed by 10.2 percent, thanks to a simultaneous growth of MAD 3.37 billion in food industry sales, and MAD 2.27 billion in agriculture, forestry, and hunting exports.

However, the Office notes that this sector’s share of overall exports has dropped 2.3 percentage points, to 21.5 percent from 23.8 percent at the end of November 2020.

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