Automotive exports, Morocco’s leading exporting sector for seven years, stood at 72.18 billion dirhams (billion dirhams) during the past year, down 9.9% compared to 2019, according to the Exchange Office.
This development is attributable to the drop in exports from the cabling ecosystems (-20%) and construction (-13.8%), explains the Foreign Exchange Office in its annual report on foreign trade for fiscal year 2020.
Overall, merchandise exports (expressed free on board – FOB) decreased by 7.6% to MAD 262.8 billion, said the same source, noting that the largest drops were observed at the sector level. automotive, textile and leather as well as aeronautics.
For their part, the exports of the textile and leather sector fell 18.9% to 30 billion dirhams in 2020, a low level which has never been reached during the last ten years, notes the report. This decrease is due to the simultaneous decline for the second consecutive year in sales of ready-made clothing (-22.2%), hosiery (-22.5%) and footwear (-15.9%).
Exports from the aeronautical sector follow the same trend with a sharp drop of 28.3% in 2020. This decline is linked to the decline in sales of assembly ecosystems by 24.3% and of EWIS (Electrical Wiring Interconnection System) by 34.3 %.
On the other hand, exports of phosphates and derivatives, after falling by 5.9% in 2019, recovered in 2020 to reach MAD 50.9 billion. This development is the result of the increase in exports of natural and chemical fertilizers (+ 14.6%), however attenuated by the drop in exports of phosphoric acid (-16.2%).
As for the sectors of “agriculture and agrifood” and “electronics”, their exports remained stable in 2020, observes the Foreign Exchange Office.
The “Agriculture and agro-food” sector, for its part, maintained the level of 2019 following contrasting trends, in particular the increase in sales in the food industry and in agriculture, forestry and hunting offset by the decline. of tobacco industry exports.
This is also the case for the electronics and electricity sector, whose exports stagnated in 2020, standing at MAD 10.4 billion. The increase in exports of wires, cables and other conductors insulated from electricity (+1.7 billion dirhams) combined with the decline mainly in sales of electronic components (-1.5 billion dirhams) explains this development.
Analysis by product shows that Morocco’s exports remain predominant by seven products which account for 50.7% of total exports. Natural and chemical fertilizers ranked first among exported products in 2020 (12.2%), ahead of wires and cables (10.6%) and passenger cars (10.6%).
Made-up clothing (6.9%) comes in fourth place, followed by phosphoric acid (4.3%), crustaceans, molluscs and shellfish (3.1%) and parts of airplanes and other vehicles air or space (3%).