Morocco’s Automotive Industry Continues to Improve Globally

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With the increasing and tight competition of automotive industry in the world market, theMorocco’s Automotive Industry Continues to Improve Globally main African and European countries have seen a decline of their market shares in 2012. Contrary to this, Kingdom of Morocco continues to surge its competitive position in the foreign markets.
According to the Department of Statistics of Foreign Trade in the Exchange Office, Morocco was able to improve its competitive position in the global automotive market in grabbing a market share of 0.23% in 2012.
This industry has registered in recent years an export performance remarkable explained by the development of the activity of the wiring and the development of the automotive segment from 2012, the study says.
A study entitled “The automotive industry in Morocco performance to export” have noted that this sector is beginning to generate revenue very important export through foreign direct investment (FDI) made in this segment. These investments totaled nearly 3.9 billion dirhams (billion dirhams) spread over 2011 and 2012.
This performance is mainly attributable to FDI for the sector, which rose to 3.6 billion dirhams in 2012 against 913 million dirhams in 2010. This evolution is explained by the increased flow of direct investment for the construction segment which reached 3.2 billion dirhams in 2012, despite the decline in revenue recorded in other segments investments, including particularly the wiring.
On the other hand, France and Spain, major trading partners, intervened in 2012 to 67% in the total trade conducted with foreign countries. The trade balance reached on transactions with these two countries remained positive during the past four years.
Outside the countries of the European Union, Egypt in 2012 became the first African country importing goods of Morocco’s automotive industry. Orders are placed at 764 million dirhams (MDH) MDH against 290 in 2011, mainly due to sales of passenger cars Dacia brand, produced by the Renault-Morocco Tanger Factory.