Trade between Morocco and Germany has grown significantly this year, reaching €3.6 billion at the end of last month. Which equates to about 40 billion dirhams.
According to the German Chamber of Commerce and Industry in Morocco, bilateral trade between the two countries has developed significantly this year compared to the previous year.
Between January and September 2022, Germany exported €2.1 billion to Morocco. This is 30.4% higher than the same period last year. By contrast, Morocco exported €1.5 billion, an increase of 28.6%.
According to the Chamber of Commerce and industry, statistics show the development of trade despite the Russian war in Ukraine affecting the demand for goods. Among Morocco’s higher exports were mainly phosphates.
Andreas Wenzel, Executive Director of the German Chamber of Commerce and industry, said in a press release that trade relations between Germany and Morocco in 2021 are at record levels despite the difficult international situation and that data for 2022 show two-way trade.
Noting that 2022 will set new records in trade relations, Wenzel said the development is consistent with trends boosting German investment in Morocco.