Trade between Morocco and Germany recorded 4.9 billion euros last year, or 54 billion dirhams, according to figures issued by the German Chamber of Commerce and Industry in Morocco.
Berlin exported 2.8 billion euros to Morocco in 2022, an estimated 30 percent increase over 2021.
Morocco’s exports amounted to 2.1 billion euros, 32 percent uTrade deficit with Germany amounted to 700 million euros, equivalent to 7.7 billion dirhams in 2022.
In 2021, trade between the two countries amounted to 3.8 billion euros, achieving a record, despite the difficult situation resulting from the repercussions of Covid-19.
German investments in Morocco focus on a number of sectors, including construction, medicine and logistics, where the total number of German companies achieve a turnover of about 20 billion dirhams per year.
Germany seeks to strengthen its cooperation with Morocco in promising fields, especially green hydrogen and renewable energies. A delegation from the African Association of German Companies is expected to visit Morocco next week to discuss available investment opportunities.
Morocco is Germany’s third trading partner on the African continent after South Africa and Egypt, and it ranks second on the continent in terms of attracting German investments after South Africa, as its investments employ more than 35,000 people.
German-Moroccan relations have known, in recent years, a cooldown that ended with a visit by German Foreign Minister Analina Berbock to Morocco last August, where it was agreed to resume cooperation in various fields after months of diplomatic tension over the Moroccan Sahara file.
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