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Morocco’s Aerospace Exports Soar to $2.16 Billion in 2024, Fueling Economic Growth
Morocco's aerospace sector has seen significant growth in 2024, with exports reaching MAD 21.86 billion ($2.16 billion), marking an impressive 17.3% increase compared to the previous year. This rise reflects a robust performance, particularly in the assembly segment, which alone grew by 26.9%, bringing in MAD 14.26 billion ($1.43 billion).
At the 7th Marrakech Air Show (MAS 2024), Industry and Trade Minister Ryad Mezzour highlighted Morocco’s strengths as a reliable aerospace partner. He pointed out the country’s political stability, well-developed infrastructure, strategic location, skilled workforce, and a favorable business environment as key factors driving growth in this sector. Mezzour also emphasized Morocco's ambition to double aerospace employment by 2030.
Alongside aerospace, Morocco's phosphate sector also saw strong performance, with exports of phosphates and derivatives rising 12.5% to MAD 68.34 billion ($6.87 billion). Fertilizers were the standout product, contributing MAD 49.37 billion ($4.97 billion), followed by phosphoric acid at MAD 11.32 billion ($1.14 billion) and raw phosphates at MAD 7.65 billion ($770 million).
The automotive sector maintained its position as Morocco’s leading export, with total exports reaching MAD 131.35 billion ($13.28 billion), marking an 8% increase. Key areas driving this growth include vehicle interiors and seats (+20.9%), wiring (+7.9%), and vehicle construction (+6.9%).
These positive developments reflect Morocco's ongoing efforts to diversify its industrial base, providing both opportunities and challenges for continued economic growth.
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