Morocco's exports in aeronautics industry surged 18.4 percent in 2017, local media reported Tuesday.
Citing data from the Moroccan aeronautics federation GIMAS, the financial daily L'Economiste said domestic sourcing rate of the sector, which employs some 15,500 people, jumped from 17 percent in 2016 to 29 percent in 2017.
The government aims to raise the figure to 35 percent by 2020, creating 23,000 jobs and generating a turnover of 2.8 billion U.S. dollars, it added.
Building on its comparative advantages including proximity to Europe, low labor costs, stability and encouraging legal incentives, Morocco seeks to make aeronautics industry a powerful economic driver.
The Moroccan aeronautical industry has made significant strides over the past decade, with its industrial base growing from a few companies to more than 130.
In 2016, Morocco signed a one-billion-U.S.-dollar deal with U.S. aerospace company Boeing to trust it to build an ecosystem in conjunction with local suppliers, a move expected to create 8,700 new jobs.
(Xinhua News Agency, March 14, 2018)