Export Volume Increases by 20.9% in Q4-22 (Statistics Office)
Casablanca - 03 January 2023- The volume of national exports of goods and services would have increased by 20.9% in the fourth quarter of 2022, in annual variation, according to Morocco's statistics office HCP.
In value, the increase in exports of goods would have reached 17%, supported by a relatively resilient external demand, said the High Commission for Planning (HCP), which has published its note of economic conditions in the fourth quarter of 2022 and prospects for the first quarter of 2023.
Shipments of the automotive sector would have contributed for +9.7 points to the overall evolution of exports, driven by sales of construction and wiring segments, in connection with the recovery of the global automotive market started in the third quarter of 2022, the same source added.
Those of phosphates and their derivatives, including natural and chemical fertilizers, would have contributed for +2.8 points, followed by those of electrical and electronic products.
With a contribution of +0.6 point, external sales of the textile and leather industry, including those of ready-made garments and footwear, would have benefited from the positive price effect on exports.
The note also indicates that, conversely, shipments of agricultural and food products have experienced a contrasting trend, the former with a negative contribution of 0.5 point like those of citrus fruits that would have fallen, the latter with a positive contribution of 1.8 point.
For its part, the volume of national imports of goods and services would have shown a growth of 22.1% in the fourth quarter of 2022, in annual variation.