Total German-Moroccan bilateral trade amounted to 4.9 billion euros in 2022, says the German Chamber of Commerce and Industry in Morocco.
“2022 marks a decisive milestone for Morocco-Germany economic cooperation, which is now taking on a new dimension. Thus, total German-Moroccan bilateral trade will reach 4.9 billion euros in 2022 and position the Kingdom 57th in the world ranking. Germany’s economic partners, ahead of Tunisia (58th) and Algeria (62nd), “said the German Chamber of Commerce and Industry in Morocco (AHK Morocco) in a press release.
For this “record year which puts all the indicators in the green to start the year 2023 under the best auspices”, German exports to Morocco reached 2.8 billion, up 30% compared to 2021, specifies the same source. This is a considerable increase, among the strongest compared to other countries.
This remarkable result is also supported by a robust increase in Moroccan exports to Germany, up 32% compared to 2021, which corresponds to a value of 2.1 billion euros.
“German-Moroccan economic relations remain on the fast track. The trade figures in 2022 clearly show that this growing interest is increasingly reflected in the realization of agreements and projects that generate benefits for both partners”, said the general manager of AHK Morocco, Andreas Wenzel, quoted in the press release.
And to continue: “Even if a large part of the increase in world trade in 2022 is due to inflation (14.6% for German exports and 26.3% for German imports), our trade relations are increasing by substantially, with more than 30% in both directions.”
“In the ranking of Germany’s main export markets, Indonesia and Vietnam are in the top 50, ahead of Morocco. There is a lot to do, but if the dynamics remain the same, it is not not unrealistic to consider making the top 50 as early as 2023,” he added.
