Trade between Morocco and the United States of America surged by around 58%, according to Morocco’s annual report on foreign trade for 2022.
Moroccan commerce with the United States increased by 69 billion MAD, in contrast to the previous year, up from 43.5 billion MAD in 2021.
Morocco imported 54.7 billion MAD from the United States in 2022 in contrast to 33.5 billion MAD in 2021, a 63% increase, based on data from the annual international trade report.
On the other hand, Morocco increased its exports to the United States last year by 44%, from 9.9 billion MAD in 2021 to 14.3 billion MAD in 2022.
Morocco imports a wide range of goods from the US, including alcoholic beverages, tobacco, energy items, and goods used in industrial and agricultural activities.
The United States of America is also the first provider of butane gas to Morocco, with imports totaling 18.8 billion MAD last year, a rise of 11 billion MAD from 7.7 billion MAD in 2021.
The value of Moroccan citrus exports to the United States totaled 1.3 billion MAD in 2022, surpassing those to Canada, France, the Netherlands, and Russia.
Additionally, Morocco exported 468 thousand tons of chemical and natural fertilizers to the United States last year for 3.9 billion MAD.
Morocco recorded a 40.3 billion MAD trade deficit with the United States of America.
The US and Morocco’s trade is based on a free trade agreement that was established in 2006. It permits a variety of goods to be exported and imported without paying customs taxes.