With manufacturing exports worth $19.9 billion recorded in 2021, the Kingdom of Morocco ranks third in the Arab world, according to the Arab Monetary Fund (AMF).
In its Consolidated Arab Economic Report, the FMA indicated that manufacturing exports in Morocco were equivalent to 6.1% of total Arab manufacturing exports. The UAE is the first country in the Arab world in terms of manufacturing exports in 2021, valued at $142.5 billion, equivalent to 43.9% of the total exports of the Arab manufacturing sector, followed by Saudi Arabia at $69 billion, with a 21.2% share, the same source added. Egypt’s share of Arab manufacturing industries in 2021 is about 6.1%, Tunisia 4%, Bahrain 2.2%, Jordan 2.1%, Kuwait 2%, Algeria 1.1%, Lebanon 0.8%, Libya 5%, Libya 0%. 0.5% and Iraq at 0.1%.
Manufacturing exports in the Arab world were $325 billion in 2021 and $244 billion in 2020, an increase of about 33.2%, it said, explaining that this growth was due to the easing of precautionary measures. Combating the Covid-19 pandemic and economic stimulus programs. According to the report, exports from the manufacturing sector accounted for about 23.3% of the Arab countries’ total exports, up from about 32.3% in 2020. This decline is due to growth in the contribution of extractive industries. Oil and natural gas and their high prices globally, FMA noted.
The report recommends that Arab countries improve the competitiveness of their economies and focus on strengthening industries where the epidemic has shown the need to accelerate their development, such as the pharmaceutical and preventive industries, as well as modern and sustainable industries.
“Coffee trailblazer. Social media fanatic. Tv enthusiast. Friendly entrepreneur. Amateur zombie nerd.”