Morocco’s exports to Spain increased by 18.7% in 2022, reaching a value of 84.1 billion dirhams. This represents about 20% of Morocco’s total exports for the year.
France was the second-largest export destination for Morocco, with exports valued at 80.5 billion dirhams. India was third, with exports valued at 27.2 billion dirhams. Italy was fourth, with exports valued at 19.1 billion dirhams. Brazil was fifth, with exports valued at 17.2 billion dirhams.
The United Kingdom, the United States, Germany, Turkey, the Netherlands, Bangladesh, Pakistan, Belgium, Portugal, and Djibouti were also among Morocco’s top export destinations.
Morocco recorded a record trade deficit of about 199.1 billion dirhams in 2022. This was mainly due to the high energy bill, which doubled to 153.5 billion dirhams due to the impact of rising prices in the international market.
Morocco’s exports increased by 92.6 billion dirhams in 2022, but its imports increased by 136.5 billion dirhams. This resulted in the record trade deficit.
The government is taking steps to reduce the trade deficit, including diversifying Morocco’s export markets and reducing the country’s dependence on imported energy.
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