Sustained Growth: Morocco's Aerospace Exports Rise by 18.7% in 2024
Morocco's aerospace industry continues its trajectory of growth, with exports showing a significant increase in the first two months of 2024. According to data provided by the Office des Changes, the sector's exports reached over 3.89 billion dirhams (MMDH), marking an impressive rise of 18.7% compared to the same period last year.
This remarkable performance is largely attributed to the substantial increase in sales in the Assembly segment, which surged by 29.1% to reach 2.6 MMDH. Additionally, the EWIS (Electrical Wiring Interconnection System) segment also saw an increase of 1.8%, reaching nearly 1.27 million dirhams (MDH).
In parallel, the automotive sector also made a significant contribution to export growth, with a 12% increase to 24.27 MMDH. This performance is driven by increased sales in segments such as Interior Vehicle and Seats (+24.2%), Construction (+13.5%), and Wiring (+9%).
Furthermore, the phosphates and derivatives sector also demonstrated a solid performance, surpassing 11.6 MMDH by the end of February 2024, marking an 8.2% growth compared to the previous year. This performance enabled the sector to outpace other industries such as electronics and electricity, which recorded a 6.6% growth to 3.9 MMDH.
However, some industries experienced slight declines or stagnation. Exports in the Agriculture and Agri-food sector stood at 17.26 MMDH (-0.7%), while Textile and Leather recorded 7.32 MMDH (-1.7%). Additionally, exports of Other Mining Extractions decreased by 20.3%, amounting to 690 million dirhams.
In summary, these data demonstrate the vitality and increasing diversification of Morocco's economy, with the aerospace sector leading the way in this sustained growth dynamic.