Europe’s trade exchange represents 63.4% of Morocco’s total trade exchange by the end of 2021, according to recent data by the exchange office.
The volume of Morocco’s trade exchanges with the European continent amounted to about MAD 543 billion, including MAD 323 billion of imports and MAD 219 billion of exports.
Morocco’s trade with the European Union, which involves 27 countries, represents about MAD 453 billion, and 53% of the total trade exchange, said the same source.
In detail, Spain tops the Kingdom’s trading partners with a total value of MAD 153 billion, followed by France with MAD 122.7 billion, Italy with MAD 40.7 billion, and then Germany with a total volume of about MAD 32.8 billion.
Overall, Morocco has also recorded a trade deficit of MAD 104 billion last year, and MAD 63 billion with the European Union, added the same source.
Morocco imports mainly energy materials from the European Union, followed by auto parts, tourist cars, chemicals and wheat, further specified the exchange office.
Regarding exports, they include tourist cars, clothing, aircraft parts, natural and chemical fertilizers and vegetables, according to the same source.
Asia ranks second in terms of Morocco’s trade exchange with a share of about 18%, with a total value estimated at MAD 161 billion during the past year.
Morocco’s imports totaled MAD 61.7 billion from China last year, MAD 9.6 billion from India, MAD 3.9 billion from Japan, and MAD 3.7 billion from South Korea.
In terms of Arab countries, the UAE represents the largest destination for Morocco’s exports, with a total value of about MAD 1.1 billion, followed by Saudi Arabia with MAD 768 million, and then Lebanon with a total value of MAD 375 million, specified the same source.
The American continent comes in third place with a trade volume of nearly MAD 97.3 billion, and a share of 11.4%, noting that the US represents most trade exchanges with Morocco with a total value of MAD 43 billion.
Coming last, the Moroccan-African trade does not exceed MAD 46 billion with a share of about 5.4%, including MAD 13.8 billion with the Maghreb Union countries, representing 1.6% of Morocco’s total trade, according to the same source.
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