(Agence Ecofin) – The automotive sector grew to become Morocco's leading export sector in 2014, surpassing the phosphate sector for the first time, according to the statement published on 16 January by the Exchange Office.

The total value of exports by the automotive, vehicle and components sector leapt by 26.2% over the previous year, reaching 39.8 billion dirhams (3.65 billion euros), which represents 20% of the total value of exports. The plants of the French manufacturer Renault at Tangier and Casablanca boosted Moroccan exports in 2014. With a growth of 52.7%, the export of vehicles assembled in Morocco represented on it its own 10% of the country's total exports.

Aside from car-manufacturing, the Moroccan automotive sector includes an important cabling industry (Denso, Leoni, Sumitomo, Lear, Yazaki …) that also achieved a significant growth with 9.9% over a year, reaching 17.2 billion dirhams.

Phosphates, traditionally the strongest export in Morocco, ranked third in 2014, after automotive and agricultural and food products.

Morocco's total exports increased significantly by 6.1% for the year, reaching 196.7 billion dirhams. Imports, which remain dominated by energy products and semi-finished products, were virtually unchanged at 383.7 billions dirhams.