Morocco's industrial sector smashes revenue record with €80.15 billion in sales

According to the results of the 2023 edition of the Moroccan Industry Barometer survey presented on March 27 by the Minister of Industry and Trade, Ryad Mezzour, sales in the industrial sector broke a record figure of 80.15 billion euros in 2022.

Achievements and very positive figures 

The minister underlined, in this line, that the Moroccan industry experienced a very remarkable dynamism; since only in 10 years, the number of active companies in the sector has doubled. The result is to reach an added value of €21.24 billion, with a production of €73.87 billion and investments of €3.39 billion in 2022.

Mezzour recalled that half of the exports are made by companies less than 20 years old, while companies less than 10 years old contribute, in turn, for its part, more than €10,000 million in exports.

This outstanding performance was mainly driven by the three major industrial sectors: agri-food (23.1%), chemical and parachemical (23%) and automotive (17.8%), according to statements by the Minister of Industry.

These are important achievements for Morocco qualified as very positive figures, according to Mezzour, which show that the industrial strategies deployed have managed to have a significant impact on the national economy.

2022: more than 870,000 jobs generated 

Data on equity capital in domestic industry show that Moroccans working in the industrial sector represent the majority of operators with 71.5% of total equity capital, while foreign capital accounts for 28.5%.

In terms of job creation, the industrial sector knew a growth of more than 8.8%, which means a net creation of more than 70,000 jobs in 2022. 

By the end of 2022, the number of jobs in the industrial sector reached 870,759, reflecting a level 2.4 times higher than in 2012, after a decade of development. 

This increase in the number of jobs generated has been clear in three industrial sectors: aeronautics (+21%), automotive (+13%) and textile and leather (+10%), as highlighted by the Minister of Industry and Trade.