Morocco ranks third in terms of contribution of industrial products to global exports, after Tunisia and Jordan.
Rabat – Morocco is the third country in the Arab world in terms of the value of its industrial exports, after the UAE and Saudi Arabia.
According to a report recently published by the Arab Monetary Fund (AMF), the value of Morocco's industrial exports stood at nearly $19.9 billion at the end of 2021. In first place is the UAE, with $142.5 billion, followed by Saudi Arabia, with 69 billion dollars.
Morocco also occupies third place in terms of contribution of industrial exports to global exports, after Tunisia and Jordan. The country's industrial exports represent 70% of total exports.
In 2021, the global value of industrial exports from Arab countries reached $325 billion, up from $244 billion in 2020, according to AMF data. On average, industrial exports represented 3.3% of the total exports of Arab countries.
Highlighting the competitiveness of the Moroccan industry, the AMF report shows that the country's competitiveness ranks seventh in the Arab world and 62nd globally. The top six positions are occupied by the UAE, Saudi Arabia, Qatar, Bahrain, Kuwait and Oman.
The report highlights the suboptimal competitiveness of Arab countries, explaining that even the countries with the best results remain below the international average.
Despite the significant growth of the Moroccan industry, the sector faces a significant set of obstacles, such as the drastic increase in raw materials and the slowdown in demand in the national and international market.
The country's largest trading partner, the European Union, is expected to be headed for a second recession less than two years after the COVID-induced economic crisis.