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Tuesday, May 21, 2024

Automobile: Exports up 40.5% at the End of Feb. (Exchange Office)

Sales in the automotive sector reached more than 21.66 billion dirhams at the end of February 2023, up 40.5% compared to the same period a year earlier, according to the Exchange Office.

This development is due to the increase in sales of all segments of the sector, namely, the construction segment (+44.7%), that of wiring (+43.8%) and that of the interior vehicles and seats (+20%), said the Office, which has published its monthly indicators of foreign trade.

In parallel, exports of electronics and electricity increased by 36.4% to MAD 3.65 billion to end February 2023. This development is explained, mainly, by the increase in sales of electronic components of 57.7% to 1.4 billion dirhams and those of wire and cable (+33.9% to 1.37 billion dirhams).

For their part, sales of textiles and leather recorded an increase of 15.1% for the two months of the year 2023, attributable to the increase in exports of ready-made garments (+18%), shoes (+20.6%), and to a lesser extent knitted items (+7.6%).

Exports of phosphates and derivatives amounted to 10.96 billion dirhams at the end of February 2023, against 14.68 billion dirhams at the end of February 2022. This evolution is explained by the decline in sales of natural and chemical fertilizers (-22.3%), phosphoric acid (-37.8%) and phosphates (-17.5%).

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