Morocco’s Economic Growth: Insights into the Booming Construction, Electronics, and Agriculture Sectors

2024-02-03 16:46:52

This development is driven by the increase in sales of the construction segment (12.48 billion dirhams), those of cabling (11.32 billion dirhams) and those of powertrain (2.29 billion dirhams), explains the Office in its recent bulletin on monthly indicators of foreign trade.

Likewise, sales in the electronics and electricity sector increased by 28.4% to MAD 23.86 billion at the end of December 2023, the same source reported.

Regarding textile and leather exports, they increased by 5%, following the increase in sales of ready-made clothing (6.9%) and hosiery (5.4%). Sales of shoes, for their part, fell by 6.2%.

At the same time, exports from the aeronautics sector increased by 2.4%, amounting to nearly MAD 21.85 billion at the end of December 2023.

Regarding sales in the agriculture and agri-food sector, they recorded virtual stability, attributable to the decline in sales in the food industry (-1.8%) and the increase in fishing and aquaculture (7.2%).

As for exports of other mining, they decreased by 3.4%. Indeed, sales of phosphates and derivatives stood at MAD 76.14 billion at the end of December 2023 compared to MAD 115.48 billion at the end of December 2022.

This decline concerns sales of natural and chemical fertilizers (-30.7%), those of phosphoric acid (-43.5%) and those of phosphates (-38%).

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Alexandra Hartman Editor-in-Chief

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