June 2, 2023

Last year, Spain was the top destination for Moroccan exports, continuing to rank first as the Kingdom’s first trading partner.

Moroccan exports to Spain were valued at AED84.1 billion last year, up 18.7 percent year on year, according to data from the exchange office.

The share of exports destined for Spain is about 20 percent of the total Moroccan exports, which amounted to about 428.6 billion dirhams for the year, which is estimated to increase by about 92.6 billion dirhams compared to 2021.

In second place for Moroccan clients is France with a value of AED80.5bn, up from AED67.2bn, up AED13.2bn.

India ranks third in Morocco’s export destinations with AED27.2 billion, up 68% from last year.

According to the data, the fourth country that Morocco exports to is Italy; Last year, the cost was around AED 19.1 billion, up from 14 percent in 2021.

Brazil ranked fifth on the Kingdom’s customer list with a value of AED17.2 billion, down from AED18.2 billion in 2021.

Among export destinations, the United Kingdom came in sixth with exports of AED16.2 billion, followed by the United States of America with AED14.3 billion, followed by Germany with AED13.5 billion.

Turkey, the Netherlands and Bangladesh are also among the Kingdom’s clients, in addition to Pakistan, Belgium, Portugal and Djibouti.

Morocco posted a record trade deficit of around AED 199.1 billion last year, widening by 56.5%, largely as a result of high electricity bills that doubled to AED 153.5 billion due to the impact of rising international prices. market.

The shortfall came as Morocco exported AED426.1 billion last year, compared to imports of AED737.7 billion in 2021.

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