The industrial sector is the main beneficiary of the revenue generated by Foreign Direct Investment (FDI) in 2019, with an amount of 11.1 billion dirhams, up by 27,2% compared to the previous year, according to data from the Exchange Office.
The industrial sector represents 26.5% of FDI, followed by the real estate sector with 24.5% (7.2 bln MAD) and the financial and insurance activities with a rate of 13% (3.3 billion dirhams ), said the Ministry of Industry, Trade and Green and Digital Economy in a note analyzing the figures of the Exchange Office relating to FDI in 2019.
Nearly half of FDI in the industrial sector, equaling 47.5%, estimated at 5.3 billion dirhams, is monopolized by the automotive sector where FDI increased by 32.5%, added the note, pointing out that the food industry and the pharmaceutical industry also benefited from the FDI of the industrial sector with respective amounts of 1.8 bln MAD (+131%), and 1.4 bln MAD (+39%).
The chemical industry attracted 3.4% of FDI from the industrial sector, which represents revenues of around 372.3 million dirhams, while the industries specializing in the manufacturing of electrical equipment totaled 263.2 million dirhams of FDI.
The dynamic recorded by FDI in the industry sector in Morocco is not limited to the year 2019, the note said, adding that it marks the continuation of an upward trend over the last five years.
Over the 2015-2019 period, industrial FDI grew by an annual average 6.3%, driven mainly by the automobile industry, whose revenues (of FDI) doubled, with an average growth rate of 22% (during this period), going from 2.4 billion dirhams in 2015 to 5.3 billion dirhams in 2019.
FDI receipts from the industrial sector are characterized by their regularity over the entire period concerned and post an annual average of 9 billion dirhams between 2015 and 2019, concluded the note.
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