“2022 marks a milestone for Morocco-German economic cooperation, which now takes a new scale. Thus, the total bilateral trade between Germany and Morocco reaches 4.9 billion euros in 2022 and positions the Kingdom in 57th place in the world ranking of economic partners of Germany before Tunisia (58th) and Algeria (62nd), “said AHK Morocco in a statement.
For this “record year that puts all indicators in the green to start the year 2023 under the best auspices”, German exports to Morocco have reached 2.8 billion, up 30% compared to 2021, said the same source, noting that this is a considerable progress, 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 on the fast track. The trade figures in 2022 clearly show that this growing interest is increasingly reflected in the realization of agreements and projects that generate benefits for both partners,” said the Director General of the AHK Morocco, Andreas Wenzel, quoted in the release.
He continued: “Even if 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 much to do, but if the momentum remains the same, it is not unrealistic to consider being part of the top 50 as early as 2023, “he added.