Automotive sector sales reached almost 57.84 billion dirhams (MMDH) at the end of May 2023, representing an increase of 39.9% compared to the same period of the previous year, according to the Foreign Exchange Office.
This increase is due to the increase in sales in all segments of the sector, including the construction segment (+35.9%), the wiring segment (+46.3%) and the vehicle interiors and seats segment (+31 ,9%), the Office reported when publishing its monthly foreign trade indicators.
At the same time, textile and leather exports increased by 15.9%, reaching 2.84 MMDH in the first five months of 2023. This growth is due to the increase in exports of ready-made clothing (+19.5%) , footwear (+12.4%) and knitted items (+8.8%).
In addition, sales of the electronics and electricity sector and the "other mining extractions" sector increased by 35.9% and 23.2%, respectively.
Regarding exports of phosphates and derivatives, they reached 31.13 MMDH at the end of May 2023, compared to 47.20 MMDH in the same period of 2022. This decrease is explained by the decrease in sales of natural fertilizers. and chemicals (-33.8%), phosphoric acid (-33.7%) and phosphates (-36.3%).