Trade exchange between Morocco and Brazil increased by 4.52% in 2024, reaching a total of $2.77 billion, compared to $2.65 billion in 2023, according to the Arab-Brazilian Chamber of Commerce.
This result reflects a remarkable momentum in bilateral relations, with a slight surplus of approximately $2.2 million in the trade balance at the end of the past year.
Exports from the largest economy in South America to Morocco supported this growth, reaching $1.39 billion, an increase of 12.2% compared to the previous year.
Key products include cane or beet sugar and pure sucrose, which dominate this trade flow, recording 1,923 metric tons of exports valued at $918.1 million (+13.93%), accounting for 66.07% of Brazilian exports to the Kingdom.
Other products include corn, with 1,505 metric tons exported valued at $297.2 million (+0.94%), as well as live cattle, whose export value surged by 319.27, reaching $47.22 million for 20,050 metric tons.
As for Brazilian imports from Morocco, they also totaled $1.39 billion in 2024, showing a slight 1.7% decrease compared to 2023.
Morocco remains Brazil’s third-largest supplier among Arab countries, with a significant share of mineral or chemical fertilizer imports: 51.53% for those containing two or more nutrients ($714.9 million) and 32.23% for phosphates ($447.2 million).
The main Brazilian states exporting to Morocco are São Paulo (48.3%), followed by Mato Grosso (18.4%) and Minas Gerais (10.6%), while Rio Grande do Sul (27%) and Paraná (24%) are among the largest importers.
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