Morocco has significant potential in the export of building materials. The Kingdom is in fact capable of multiplying its exports of building materials by six, according to a study carried out by the Foreign Exchange Office. This will, if materialized, have a significant impact on the national economy.
The Kingdom could reach a value of 3 billion dollars per year (30 billion dirhams). The study suggested that Morocco can convert a considerable share of its building material imports into local production, which currently costs the country 21 billion dirhams.
The global building materials market is estimated at $600 billion per year, and by 2026 Morocco could potentially secure a market share of 0.5%, which would allow for a significant increase in exports. However, other competing countries such as Portugal, Turkey, France, Spain and Egypt have already surpassed this level of exports, with some countries exporting more than three times the amount that Morocco currently exports. To achieve its ambitious goals and compete with other countries, the national industry must transform its industrial processes to be less energy-intensive and produce products with high technological value.
“One of the conclusions revealed by this study is that the Kingdom could multiply by 6 its exports of building materials to reach an annual flow of approximately 3 billion dollars. The study specifies, moreover, that the volumes exported of building materials by certain competing countries or partners of Morocco are already at much higher figures. The results of this study also show that Morocco is capable of transforming a large part of its 21 billion DH of imports of construction products and materials into local production”, can be read on the official website of the Office des changes.
Achieving this ambition will have a significant impact on the national economy. To do this, the Foreign Exchange Office recommends focusing the industry on the transformation of its industrial processes, the production of products with high technological value and the development of partnerships between the public and private sectors to conquer export markets.
This study is part of a program designed by the Foreign Exchange Office aimed at evaluating the potential of different industrial sectors within the framework of a policy of substituting inputs of foreign origin with inputs from national production. This work also sheds valuable light on the functioning of the sector and its interactions with its internal and external environment.
