The restoration of diplomatic relations between the two countries has created an ideal business climate for trade to exceed $100 million by 2021
Relations between Morocco and Israel seem to be moving in the right direction. Since the re-establishment of diplomatic relations, the two countries have signed various economic and trade cooperation agreements. Thanks to this process, the exchanges between the Kingdom and Israel reached 117 million dollars in 202.
According to the Israel Export Institute, which relies on information from the Central Bureau of Statistics, the increase in exports was more than 200% compared to 2020. The same year, the trade balance is in favor of Israel.
Although Ohad Cohen, director of Israel’s Foreign Trade Administration, claimed that imports of goods to Morocco fell by 15% in 2021 compared to the previous year, the United Nations COMTRADE database on trade international reaffirms the growth of trade between the two countries and the figure to more than 100 million dollars.
Most of these Israeli exports are vehicles, aircraft and ships. In addition, transportation equipment, plastics, rubber and rubber products, industrial chemicals, machinery, electrical equipment, and audio and video technology stand out. Meanwhile, Moroccan exports to the Jewish state include auto parts, textiles and textile products, olives, canned fish, and pasta.
The growth of exports and therefore of the value of trade relations between the two countries is booming , so much so that in 2020, Morocco alone exported $9.76 million in goods to Israel, and the same, in the same year, Israel alone exported $11.2 million worth of goods to the Kingdom; very low figures compared to those obtained in 2021.
The two countries aim to reach $250 million in imports and exports next year, an amount which, following the gradual resumption of trade between the two countries, seems entirely possible.
