Record figure for Moroccan industry. The Arab Monetary Fund (AFM) ranks Morocco as the third largest exporter of industrial products in the Arab world and in terms of the contribution of industrial products to total exports. It does so with the value of $19.9 billion, or 3.3%, behind the United Arab Emirates and Saudi Arabia.
The latest AFM report also shows that competitiveness in this Moroccan industrial sector ranks seventh in the Arab world and 62nd globally.
This is a reflection of the momentum of the Alawi kingdom's industry in recent years, whose exports now account for more than 70% of total exports in the North African country's economy. According to the Minister of Industry and Trade, Ryad Mezzour, these figures are due to Morocco's Industrial Acceleration Plan. He also stressed that the kingdom "has one of the most attractive industrial platforms in the world" and highlighted the importance of real vision, stability and human resources.
One of the key sectors that has strengthened the current market position is the automotive sector, with the two spearheads in Casablanca and Tangier. Ryad Mezzour expressed the great capacity for growth in these factories in terms also of attracting investment in the automotive industrial platform, which, as he says, "is the most competitive in the world".
The minister is confident that Morocco will position itself in the top 10 of the major leagues in terms of car production in the coming years, thanks in part to the activation of the Mohammed VI Fund for Foreign Investment.
Another key industry is textiles, with exports exceeding 34 billion dirhams at the end of last year, with double-digit growth compared to the same period in 2021 and even with other pre-pandemic years with 1,600 companies and more than 200,000 jobs.
"Morocco has been for decades among the top ten clothing suppliers in Europe, of which it is today the second largest supplier in the Mediterranean basin," declared Anass El Ansari, president of the Moroccan Textile Clothing Association, as reported by the Le360 portal.
However, the kingdom's policies are now aimed at lowering the carbon footprint of Morocco's entire industrial production. Natural gas will thus become an important alternative for this sector in the face of the need to seek green energy sources that contribute to the fight against climate change.
With these prospects, and despite inflation, the Moroccan Industrial and Commercial Property Office (OMPIC) estimates growth for the industrial fabric in the kingdom for the coming months of 2023. In the new roadmap established by the Moroccan government, it is hoped to increase investment and exports in order to improve the country's economy and finally overcome the ravages of the Covid-19 pandemic and the consequences of the Ukrainian conflict.