Morocco’s Emerging Sectors Lead Growth Charge [Zawya]
Morocco’s plan to promote value-added exports in targeted sectors as a way to grow the economy is already bearing fruit, to the tune of 5%:
Morocco’s emerging sectors are leading growth in the North African country, as the increase in exports of automobiles and aeronautics overtakes those of key industries such as phosphates and textiles
The government’s industrial program aims to diversify export sectors, particularly in the food-processing, automotive and aviation sectors, and to encourage industrial offsets and import substitution, according to the International Monetary Fund.
In the first half of 2014, exports from automotive sector rose 37.2% year-on-year, electronic exports were up 25.2% and aeronautical exports increased by 14.1%, leading to a 5.2% surge in exports over all…[Full Story]