In a way that reflects the important economic dynamism in the Kingdom of Morocco, a momentum was observed in these exports abroad during 2021, with an increase of nearly 24 percent, compared to 2020.
Moroccan exports are distinguished by their diversity, between agricultural and marine products, and industrial products such as the automobile and aviation sector, and others related to traditional industry, and others such as exports of phosphates and its derivatives.
Continuous recovery and dynamism
In a general presentation on the “situation of exports” presented to the Government Council on Thursday, Moroccan Economy and Finance Minister Nadia Fattah Alaoui confirmed that her country’s exports rose in 2021 by about 24 percent compared to 2020.
Al-Alawi stated, according to a statement by the Moroccan government presidency, that “the volume of Moroccan exports amounted to more than 326 billion dirhams, an increase of 24.3%, compared to 2020.”
Indicators also indicate a faster recovery than expected after Covid-19, considering that the Kingdom’s exports continued the same dynamic during the first month of this year, which recorded a development of 23 percent compared to the same month of 2021.
Diversity in Moroccan exports
According to the researcher in international trade, Mustafa Khayati, “Moroccan exports in general vary greatly, as they are based on the vital sectors of the Moroccan economy, namely: the automobile sector, the phosphate sector and its derivatives, as well as the textile sector, electronics, and then traditional industries.”
More precisely, “car exports continued to increase by 15 percent compared to 2021, which represents about 83.8 billion dirhams,” Khayati told Sky News Arabia.
The researcher in international trade added that “the statistics indicate the development of Moroccan exports in the phosphate sector, as they recorded a value of 79.9 billion dirhams due to the increase in international prices, while textile exports achieved during the past year a value of 36.3 billion dirhams, recording an increase of 21 percent.”
Openness and attendance policy
The rise in Moroccan exports is attributed to “the free trade agreements adopted by Morocco,” according to economics researcher Sarah Talbi.
Al-Talbi explained, in a statement to “Sky News Arabia”, that this falls within the framework of the systematic policy of openness by the Kingdom for a long time, in order to enhance its presence in the international economic arena.
For his part, the researcher in international trade, Mustafa Khayati, links the growth of Moroccan exports with “the kingdom’s diversification of the arsenal of partners, and directing Moroccan exports towards the best partners, within the framework of the national strategy to ensure that the Moroccan supply reaches abroad, while promoting Moroccan exports under the Made in Morocco label.”
Made in Morocco mark
This brand has enabled the Kingdom of Morocco’s exports to be promoted in various countries of the world. Especially since “Made in Morocco has contributed to creating new brands in the textile sector, and has even played an important role in marketing with Morocco’s various partners”, records Khayati.
The same speaker cautioned that “this mark had a great impact, especially with the Corona pandemic, as countries were greatly required to achieve self-sufficiency and rely on local competencies, and everyone witnessed how Morocco was able to produce several products, and even contribute to their export abroad, achieving an added value.” Mission”.
Reducing the trade deficit
From this momentum in exports abroad, the Moroccan government aims to “reduce the kingdom’s trade deficit, by providing foreign currency and paying foreign obligations,” stresses economics researcher Sarah Talbi.
Al-Talbi believes that “this can only be done by expanding the scope for benefiting from the national advantage and the governance of competition, to ensure the recovery of the Kingdom’s national economy and make it an economic power in the future.”
For his part, the expert in international trade, Nabil Boubrahim, called for “to take advantage of this recovery by supporting the companies behind these exports on a regular and strong basis, in order to continue to produce value-added materials and search for new markets.”
In his contact with “Sky News Arabia,” Boubrahim said, “This is an occasion to enter new markets and new products to compensate competitors, because Morocco needs a balance between the value of exports and imports to help the trade balance overcome its weakness.”
The expert in international trade stressed that “what matters is the continuity of exports to reduce the trade balance deficit, considering what the government announced remains circumstantial and relates to only the first months of the current year.”
Therefore, “if exports continue to rise significantly throughout this year, and exceed the kingdom’s imports, then it can be said that Morocco can actually reduce the trade balance deficit,” the same source added.
#leap #Moroccan #exports #reason