Significant Increase in Trade Between Morocco and Germany in Q1 2023

Significant Increase in Trade Between Morocco and Germany in Q1 2023

Germany and Morocco flags.

Trade between Morocco and Germany experienced a significant boost during the first quarter of 2023, with trade exchange reaching a value of 1.5 billion euros. This represents a substantial increase of 32.6 percent compared to the same period in 2022, as reported by the German Chamber of Commerce and Industry in Morocco.

They revealed that Germany imported goods worth 691 million euros from Morocco during this period, marking a 36.1 percent increase from the first quarter of 2022.

According to the same source, Morocco ranked 52nd among the top countries exporting to Germany, indicating its growing importance as a trade partner. Likewise, German exports to Morocco witnessed a significant surge, amounting to around 874 million euros, reflecting a growth of 29.9 percent compared to the first quarter of 2022. This growth placed Morocco 50th among the countries importing from Germany.

The report emphasized that Morocco has established itself as a high-level trade partner for Germany, offering profitable opportunities for trade and investment for both nations.

German direct investments in Morocco experienced a significant rise of 25.7 percent between 2020 and 2021, reaching 1.5 million euros in 2021. In 2022, Morocco ranked 57th among countries with the largest trade exchanges with Germany.