Morocco’s exports to Brazil have reached a record level estimated at USD 2 billion in 2021, according to Brazil’s Ministry of Economy’s data.
Brazil’s Ministry of Economy’s data suggests that Morocco has exported products worth a total of more than USD1.9 billion to Latin America’s country, which represents a record level never reached before since 1997 when Moroccan exports to Brazil did not exceed USD 50 million.
The total Moroccan exports to Brazil increased in 2021 by 70.29%, compared to 2020 (USD1.1 billion), and up by 98.29% compared to 2019 (more than USD 967 million).
As for sectors, “fertilizers” dominated Morocco’s exports to Brazil (about USD 1.6 billion), followed by “inorganic chemicals and organic and inorganic compounds of precious metals” (USD170.5 million dollars), “salt, sulfur, plaster, and cement” (USD42.1 million), “fisheries” (USD42 million), “machines, equipment, and electrical materials” (USD20 million), and “clothing and accessories” (USD19.7 million).
Exports also include “aircraft, space vehicles and their parts” (USD2.5 million) and “cars, tractors, bicycles, and their parts and accessories” (USD2.2 million).
Exports between both countries during 2021 showed a trade surplus in favor of Morocco, estimated at USD1.35 billion, an increase of 193.85% compared to 2020 (approximately USD460.3 million), and up by 171.68% compared to 2019 (about USD498 million).
The overall trade exchanges totaled a balance surplus of USD61 billion dollars, an increase of 21% compared to 2020.
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