Automotive exports rose by 4.1% at the end of February 2021 to stand at some 15.74 billion dirhams (MMDH), according to the Foreign Exchange Office.
This development is mainly due to the 8.6% increase in sales in the “construction” segment, explains the Office in its recent note on the monthly indicators of foreign trade.
This increase is slowed down by the drop in sales of the “wiring” segment and the “vehicle interior and seats” segment of 3.7% and 2.2% respectively, the Office informed, noting that the share of this sector in the total exports gained 2 points from 29.7% at the end of February 2020 to 31.7% at the end of February 2021.
For their part, exports of phosphates and derivatives reached some 7.14 billion dirhams at the end of February, up 7.9% compared to the same period a year earlier.
The foreign exchange office also indicates that at the end of February 2021, exports recorded a drop of 2.5%, totaling 49.62 billion dirhams against 50.86 billion dirhams a year earlier, noting that this decline mainly affects sales of textiles and leather and those of aeronautics and to a lesser extent those of agriculture and agri-food.
Indeed, exports of the textile and leather sector amounted to 5.09 billion dirhams at the end of February 2021 against 6.17 billion dirhams a year earlier, i.e. a drop of 17.5%. This change is mainly due to the decline in sales of ready-made clothing (-18% or -685MDH) and those of shoes (-29.6% or -186MDH). The share of this sector in total exports lost 1.8 points (10.3% at the end of February 2021 against 12.1% at the end of February 2020).