Global car exports by country were valued at US$698.2 billion for 2016. Cars represent the world’s number one export product, surpassing crude petroleum revenues handicapped by lower oil prices.
The $698.2 billion in total international car exports for 2016 represents a 7.1% improvement from 2012 and a 2.7% uptick compared to the $679.8 billion spent during 2015.
Among continents, European countries accounted for the highest dollar value worth of car exports during 2015 with shipments amounting to $380.6 billion or 54.6% of international car sales. In second place was Asia at 23.9% followed by North American automobile exporters at 19.2%.
Morocco Exported 3 Billion US dollars in 2016 in car sales which surpassed the Phosphate sales
In the automobile sector, Morocco benefits from its geographic proximity with Europe. It has the largest port in the South of the Mediterranean Sea, it has experience with manufacturing cars. It also has qualified people, lots of rules and regulations as well as free trade agreements with the European Union, the United States, as well as with some Arab countries in the frame of the Agadir Declaration.,” he said.
The Peugeot plant is located near the coastal city of Kenitra and will begin assembling small and subcompact models for Africa and the Middle East in 2019.
Unlike many countries in the region, Morocco has managed to avoid a big drop in foreign investments in the wake of the global financial crisis and the Arab Spring uprisings of 2011, partly by marketing itself as an export base for Europe, the Middle East and Africa
|Rank||Exporter||2016 Car Exports||% World Total|
|3||United States||$53.8 billion||7.70%|
|5||United Kingdom||$41.3 billion||5.90%|
|6||South Korea||$37.5 billion||5.40%|
|10||Czech Republic||$18.8 billion||2.70%|
|21||South Africa||$5.3 billion||0.80%|
|37||Saudi Arabia||$745.5 million||0.10%|
|38||Hong Kong||$636.4 million||0.10%|