Morocco’s automotive export revenues reached MAD 111 billion last year, accounting for over a quarter of the country’s total export revenues across different industries.
It is predicted that the financial returns from car exports will keep increasing, with a projected rise of 40%, as announced by Ryad Mezzour, the Minister of Industry and Trade, during a parliamentary session on Tuesday.
The automotive sector is expected to contribute MAD 138 billion to the government’s funds in 2023 if the current growth in exports continues.
Mezzour highlighted that the automotive industry creates 238,000 direct jobs in 260 factories, and there are plans to construct 60 new car manufacturing plants in various regions.
Mezzour stated that 86% of the country’s total exports consist of manufactured goods, generating MAD 370 billion annually.
Regarding the protection of Moroccan manufacturers, the minister emphasized that “Morocco protects manufacturers from unfair competition through several measures, such as surveillance and imposing specific standards,” adding that customs inspections scrutinized 60,000 cases in the past year.
Mzawar said that there are 1,600 registered companies operating in the sector of textile, achieving transactions worth MAD 60 billion. In 2022, textile exports generated MAD 44 billion, compared to MAD 36 billion in 2018.
The minister anticipated that the financial revenues from textile exports will approach MAD 50 billion in the current year.
Mzawar also said that Morocco has started promoting its own textile brands domestically and internationally at competitive prices, adding that “the minister standing before you today is wearing everything that is 100% Moroccan made, from socks to everything else.”
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