Morocco’s phosphates and derivatives sales rose by 67.7%, reaching over MAD 77.89 billion by the end of August 2022, according to the exchange office’s monthly report.
The rise follows the increase in exports of natural and chemical fertilizers (MAD+23.49 billion) due to the spike in prices, which more than doubled (MAD 8,793/T at the end of August 2022, up compared to MAD 4,162/T at the end of August 2021, explained the Office.
The office noted that exported quantities have however dropped by 15.5%.
Regarding sales in the automotive sector, they amounted to MAD 66.7 billion, an increase of 29.3% in the first eight months of the year 2022, said the same source.
These exports reached their highest level during the same period in the last five years, added the exchange office.
The increase comes as a result of the rise in the construction segment (+47.3%) and in the cabling segment (+16.7%), said the same source.
In contrast, exports in the vehicle interiors and seating segment fell by 2.5%, further stated the office.
Exports of the agriculture and agro-food sector also amounted to MAD 55.83 billion by the end of August 2022, an increase of 24.1% compared to the same period of 2021.
The rise is driven by the simultaneous increase in sales of the food industry (+27.7%) and those of agriculture, forestry and hunting (+19.8%), added the office.
Textile and leather exports also increased by 28.8%, following the rise in sales of ready-made garments (+31.2%), knitted and crocheted items (+22.8%), and shoes (+30.3%), according to the same source.
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