Trade between Morocco and Switzerland broke a record last year, reaching 778 million Swiss francs, the equivalent of 8.6 billion dirhams, an increase of 18.9% compared to 2021.
In 2015, the value of trade between the two countries was around 507 million Swiss francs, and counting. Trade has continued to increase year on year, according to figures from the Swiss Federal Office of Customs and Border Security.
In detail, Switzerland exported to Morocco products worth 414 million Swiss francs (equivalent to 4.5 billion dirhams), while Morocco’s exports to this European country amounted to 364 million Swiss francs (equivalent to 4 billion dirhams). Thus, Rabat has a trade deficit with Bern worth half a billion dirhams.
According to data from the Embassy of Bern in Rabat, obtained by MoroccoLatestNews, Swiss exports to Morocco increased last year by 19.3% year-on-year. These exports mainly include chemicals and pharmaceuticals with a share of 29%, watches and jewelry with a share of 24%, household appliances and electronics with a share of 18% and agricultural products with a share of 17%.
The figures show that the value of Moroccan imports of Swiss jewelry and watches over the past year amounted to approximately 99.3 million Swiss francs, which is equivalent to more than one billion dirhams.
In addition, Morocco’s exports to Switzerland increased by 18.6% year-on-year. These exports mainly include textile and clothing products with a share of 28%, agricultural products with a share of 19%, cars with a share of 14% and jewelry with a share of 13%.
Analyzing this data, Guillaume Scheurer, Ambassador of Switzerland to Morocco, estimated that “ the trade figures reflect the ideal diplomatic relations between the two countries and the integration between the two economies “.
In this regard, the Swiss diplomat indicated that the joint declaration between Morocco and Switzerland for the year 2021 has given new impetus to trade, saying in a press statement that ” trade between the two countries is still below available capacity “, calling on the economic actors of the two countries to discuss their needs and their offers with the aim of forging solid alliances and achieving high value-added operations.
For his part, Christophe De Figueiredo, President of the Swiss Chamber of Commerce in Morocco (CCSM), indicated that what has been achieved in terms of trade is only a first step, specifying ” that there are opportunities to increase these numbers while maintaining the trade balance between the two countries “.
Also, the president of the Swiss Chamber of Commerce in Rabat declared that “Morocco has growth engines for Swiss companies, thanks to political stability, geographical proximity, qualified youth, land availability and transport infrastructure. and energy”.
It should be noted that Morocco and Switzerland signed a joint declaration in 2021 on the occasion of the centenary of diplomatic relations, where it was stressed that the pace of working visits between officials of the two countries would be accelerated to strengthen the dialogue and consultation between the governments and economic players of the two countries.