According to the latest data from the Association of German Chambers of Industry and Commerce, Germany imported from Morocco an amount of 691 million euros from January to March 2023, registering a remarkable increase of + 36 .1% over the same period compared to the year 2022. In the first quarter of 2023, Morocco ranked 52nd among the countries that export the most to Germany.
At the same time, German exports to Morocco also experienced a significant increase, reaching an amount of 874 million euros during the first quarter of 2023. This growth of + 29.9% compared to the first quarter of 2022 positions Morocco at 50th place among importing countries from Germany.
In total, the volume of trade between Morocco and Germany in the first quarter of 2023 amounts to 1.5 billion euros, recording an increase of + 32.6% compared to the same period in 2022. These figures testify to a dynamic and growing economic cooperation between the two countries.
Morocco is positioning itself as a leading trading partner for Germany, offering mutually beneficial trade and investment opportunities. These encouraging results open up new prospects for the development of trade relations between Morocco and Germany in 2023.
“Trade data for the first quarter of 2023 shows a marked increase compared to the same period in 2022. German exports to Morocco increased by almost 30% and German imports from Morocco increased by 36, 1% in Q1/2023 compared to Q1/2022. Also, German direct investment in Morocco increased by 25.7% from 2020 to 2021 to reach 1.5 million euros in 2021. Morocco occupies in 2022 the 57th place of the countries with the largest volume of exchanges with Germany,” says Claudia Schmidt, Deputy Director General of the German Chamber of Commerce and Industry (AHK) in Morocco.
