trade up 18.24% in Q1 2022

In the first quarter of 2022, the trade surplus turned in favor of Brazil and reached 19.17 million dollars, the Kingdom having imported from Brazil for 242.73 million dollars.

Trade between Morocco and Brazil reached $466.3 million in the first quarter of 2022, marking a link of 18.24% compared to the same period last year.

According to data from the Brazilian Ministry of Economy, Moroccan exports to Brazil reached $223.56 million during the first quarter of 2022, a decrease of 11.24% compared to the same period of the year. last.

In the first quarter of 2021, Moroccan exports to Latin America’s largest economy had reached $251.88 million, against imports of around $142.49 million. The Kingdom had thus recorded a surplus of 109.39 dollars.

In the first quarter of 2022, the trade surplus turned in favor of Brazil and reached 19.17 million dollars, the Kingdom having imported from Brazil for 242.73 million dollars.

Exports from Brazil were driven in particular by the segments of “Sugars and confectionery products” (115.35 million dollars), “Cereals” (87.067 million dollars) and “Iron, iron and steel” (18 .62 million).

For its part, Morocco notably exported to Brazil “Fertilizers” ($141.4 million), “Inorganic chemicals, inorganic or organic compounds” ($49.39 million) and “Fish and crustaceans, molluscs and other aquatic invertebrates” ($9.96 million).

Brazil has become one of Morocco’s main trading partners in recent years. The Kingdom’s exports to the South American country hit a record last year, since the historic streak began in 2016.

The Kingdom had exported products totaling more than $1.9 billion to Brazil in 2021, up 70.29% from 2020 ($1.1 billion) and up 98.29% compared to 2019 (over $967 million), before the pandemic.

Last year, Morocco, which was the second Arab exporter to Brazil after Saudi Arabia, recorded a trade surplus of 1.35 billion dollars, up 193.85% compared to that achieved in 2020. .




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