63.4% of trade is carried out with Europe in 2021

Nearly 63.4% of Morocco’s trade in 2021 was with Europe, according to the Office des Changes.

A proportion of 83.6% of this trade was carried out with countries of the European Union (EU), specifies the Office in its annual report on Morocco’s foreign trade in 2021.

Thus, trade with Europe amounted to 543.1 billion dirhams (MMDH) during the past year, up 20% compared to 2020, the same source said.

By country, trade was mainly with Spain (28.3%), France (22.6%), Italy (7.5%), Turkey (6.9%) and Germany (6%). Transactions with these countries increased by 20.2%, 13.4%, 21.5%, 30.6% and 6% respectively.

In addition, the report indicates that Morocco’s trade with Asia increased by 37.4% in 2021, their share in total trade standing at 18.8%. China ranked first among the Kingdom’s Asian partners with a share of 40.3%.

Trade with China thus continued to grow for the tenth consecutive year. With a value of 65 billion dirhams in 2021, they posted a growth of 20.4% compared to 2020.

Similarly, trade with India, Saudi Arabia and the United Arab Emirates marked respective increases of 46.5%, 81.1% and 81.5%.

At the same time, trade with America rose by 27%, following the increase in trade, mainly with Brazil (+7.7 billion dirhams), Morocco’s third client country since 2020, the United States (+7.6 billion dirhams), Argentina (+2.2 billion dirhams) and Mexico (+1.6 billion dirhams).

For their part, trade with Africa is on the rise again (+29.8%), after two years of decline. Egypt remains, for the third consecutive year, Morocco’s main African partner, followed by Algeria, Tunisia and Côte d’Ivoire.

As for trade with Oceania, it remained limited to represent 0.4% of global trade. They recorded an increase of 2.4 billion dirhams, notably under the effect of the increase in trade with Australia (+2 billion dirhams).

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