Industry & Retail
From The Report: Morocco 2019
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Between 1985 and 2016 industry contributed an average of about 19% to GDP, and in 2017 this increased, raising the sector’s contribution to around 25% of GDP. The country’s industrial offering is diverse and includes products in the automotive, electronics, textile, offshoring, pharmaceuticals, aerospace, chemicals and electronics segments. The sector will continue to play an integral role in Morocco’s economy and is set grow an additional 5% by 2022. However, it must first diversify its offering, which could include further shifting to high value-added manufacturing such as aerospace or automotive, and increasing overall exports. The kingdom also has plans to leverage its textile industrial capabilities to become a global sourcing centre for fast fashion and denim. The retail sector in Morocco is expected to continue to grow due to demographic shifts. In addition, higher internet penetration rates and the increasing popularity of online shopping are all levers for sector growth. This chapter contains interviews with Othman El Ferdaous, Secretary of State for Investment, Ministry of Industry, Investment, Trade and Digital Economy; Jean Christophe Quemard, Executive Vice-President for the MENA region, Groupe PSA; Farid Bensaïd, CEO, Ténor Group and President, National Federation of Insurance Agents and Brokers; and Abdellatif Kabbaj, Managing Director, Soft Group.