Total German-Moroccan bilateral trade amounted to 4.9 billion euros in 2022, says the German Chamber of Commerce and Industry in Morocco (AHK 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 reaches 4.9 billion euros in 2022 and positions the Kingdom 57th in the world ranking of Germany’s economic partners ahead of Tunisia (58th) and Algeria (62nd). », underlines AHK Morocco in a press release.
For this “a record year that 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, noting that 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 in the fast lane. Trade figures in 2022 clearly show that this growing interest is increasingly translated into 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 though 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 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 dynamic remains the same, it is not unrealistic to consider being part of the top 50 from 2023.he added.