Global professions in Morocco: a year under the sign of success

The Global Trades of Morocco (MMM) closes the year 2022 under the sign of success, despite inflation that is now part of the new world economic order, geo-economic disruptions and the challenge of energy transition.

Looking closely at export results, the performance of MMM shipments no longer needs to be proven. Moreover, the latest bulletin from the Foreign Exchange Office confirms this observation.

For the first ten months of this year, exports from the automotive sector amounted to 89.18 billion dirhams (MMDH), up 36.7% compared to the end of October 2021. These exports thus reached their level on higher during the same period in the last five years.

At the same time, exports from the agricultural and agri-food sector stood at more than 66.95 billion dirhams at the end of October 2022, up 19.9% ​​compared to the same period of 2021.

As for textile and leather exports, they increased by 24.4% (+7.35 billion dirhams) in the first ten months of the year, due to the increase in sales of ready-made clothing (+26.2 %), knitwear (+16.6%) and footwear (+31.5%).

Commenting on these results, the economist and public policy specialist, Abdelghani Youmni, indicated that the diagnosis of Morocco’s six professions, automotive, aeronautics, agro-food, textile-leather, electronics and offshoring shows different dynamics and outputs strongly correlated to the levels of investments, the quality of joint ventures, ecosystems and positioning in the face of competition.

Youmni, in this sense, noted that the industrialization of Morocco is “a major moment in the economic and geographical history of the Kingdom”, in its strategy of advanced regionalization and voluntarism to better distribute economic emergence, employment, vocational training and added value.

Obviously, the analysis of the figures makes it possible to confirm the strong positive externalities of the Emergence Plan and then of the Industrial Acceleration Plan (2014-2025), raised the expert, noting that the level of exports of world trades rose from 46.8 billion dirhams in 2013 to 90.6 billion dirhams in 2021, an increase of 93.5% in just 9 years.

And to specify that today and over the 2020-2022 interval, exports of the automotive industry have increased by 24.4%, agricultural and food products by 24%, the aeronautical industry by 61.5% and textile and leather exports grew by 32.6%.

Discussing the various disruptions to supply chains, as well as the impact scenarios on MMMs, the Economist said that “we are at the dawn of a new globalization which will be split into two poles, western and asian, decarbonized and refocused on arbitration by neighborhood and on arbitration with the cost of the carbon footprint in international trade. It will not only be a climate transition but also a revolution of paradigms that will give birth to a new economy”.

Asked about the prospects for MMMs for this new year, Youmni estimated that “nothing should penalize economic emergence and its attractiveness, despite the inflation that will be part of the new economic world order of geo-economic disruptions and the transition energy and digital.

And to argue that “Morocco is now part of the club of this new disruption, leader in the MENA region, engine of Africa and unique bridge between Europe and Africa”.

Taking advantage of an ideal geostrategic position and the growing confidence of foreign investors in the Kingdom, MMMs are increasingly establishing themselves as major job providers with enormous assets in terms of consolidating export capacities.

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