MOROCCO RECORDS INCREASED TRADE VOLUME WITH GERMANY

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According to the data released by the German Chamber of Commerce and Industry in Morocco, the trade volume between Morocco and Germany reached an amount of 4.9 billion euros (54 billion dirhams) in 2022.

 

In 2022, Berlin was reported to have exported 2.8 billion euros to Morocco which totaled a 30% boost over 2021, with exports worth 2.1 billion euros from Morocco.

 

Despite recovery from the Covid-19 pandemic, trade between both countries realized 3.8 billion euros in 2021, achieving a record.

 

With investments in the construction, medicine, and logistics sectors in Morocco, every single German company recorded a turnover of almost 20 billion dirhams annually.

 

However, the European country makes move to foster its cooperation with Morocco in promising areas particularly green hydrogen and renewable energies.

 

In view of this, there will be a visit by a delegation from the African Association of German Companies to Morocco next week to have discussions on available investment opportunities. 

 

Due to its trading volume, Morocco is ranked as Germany’s third trading partner in Africa after South Africa and Egypt. In terms of attracting German investments, Morocco ranks second on the African continent. 

 

According to new data ranking, Morocco ranks 57th in the world ranking of Germany’s economic partners, with its investments creating job opportunities for more than 35,000 people.

 

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