Moroccan enterprises satisfied at 1999 economic performance

The association of Moroccan enterprises (CGEM) said in a study that key economic sectors, except for construction and public works, recorded positive results in 1999.

According to the study, the car market has recorded for the third consecutive year a positive evolution. By the end of October 1999, 61,7888 vehicles were sold on the Moroccan market, up by 23% in comparison with 1998. The progression applies both to local industry (assembling) and to the importation of assembled vehicles.

Exports of car components continue to increase and are expected to exceed $100 million for 1999 thanks to the clearing policy adopted by the sector. However, imports of spare parts still suffers the same poor organization and the unfair competition of smuggled parts.

In tourism, CGEM notes an 18.8% progression in Jan-Nov 99 as by end November, 2.2 million tourists visited Morocco and tourism receipts improved by 19%.

Despite a modest 98-99 agricultural campaign, the agro-food sector is expected to post a growth rate ranging between 2 and 3 percent.

Metal, mechanical, electric and electronic industries have somewhat stagnated in 1999, due to smuggling, mainly.

The sector of new information technologies has known a strong expansion since liberalization is offering better perspectives.