German-Moroccan trade relations show an increase of 4.9 billion euros by 2022, according to the German Chamber of Commerce and Industry in Morocco

Marruecos y Alemania: grandes progresos en el comercio bilateral

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The year 2022 has heralded the end of the impact of the global COVID-19 pandemic on trade relations between Morocco and Germany, according to the German Chamber of Commerce and Industry in the North African country.

We recall that the COVID-19 pandemic had a very negative impact on many sectors. However, German-Moroccan trade has shown remarkable resilience, with positive results.

Global economies could take a long time to recover; however, Morocco's Minister of Economy and Finance, Nadia Fettah Alaoui, assured that there would be significant economic repair.

The implementation of the development model approved by parliament is expected to achieve a number of important objectives, such as ensuring economic recovery, reducing unemployment and, above all, providing more job opportunities for young people.

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Since the consequences of the pandemic are very high, the focus is on economic sectors such as tourism, transport, markets, business and many others.

German exports to Morocco increased by 30% compared to 2021, reaching €2.8 billion by 2022, the Chamber of Commerce and Industry in Germany reported in a press release. This is considered considerable progress, one of the strongest in comparison to other nations. 

As a consequence of this result, a solid increase in Moroccan exports to Germany was achieved, with a 32% increase compared to 2021.

Andreas Wenzel, CEO of AHK Morocco, said: "German-Moroccan economic relations continue on a virtuous path. The trade figures in 2022 clearly show that this positive development is increasingly reflected in the realisation of agreements and projects that generate benefits for both partners''.

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"A large part of the increase in world trade in 2022 is related 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,'' explained Andreas Wenzel.

On the other hand, in a statement, AHK Morocco pointed out that, in 2022, the cooperation between the two countries marks an increase in economic cooperation. German-Moroccan bilateral trade will reach 4.9 billion euros in 2022 and places the Alawi kingdom in 57th place in the world ranking of Germany's economic partners, ahead of Algeria (62) and Tunisia (58).

In the ranking of Germany's main export markets, Indonesia and Vietnam enter the top 50, ahead of Morocco, according to the director general. However, if everything continues to go so well, Morocco's entry into the top 50 could be considered by 2023.

The new collaboration between Morocco and Germany has some objectives such as ensuring the participation of the North African country in trade fairs in Germany, such as webinars between German and Moroccan companies, as noted in the press release of the Chamber of Commerce. 

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Andreas Wenzel reported that, thanks to the business conditions, infrastructure and an internationally competitive production capacity, Morocco is a market and investment location for the German economy.

Looking at the two countries' trade, Morocco exports textile and food products to Germany, while Germany provides its mechanical, industrial and renewable energy exploitation.

In 2020, Morocco is ranked 81st in the economic complexity index and 60th in total exports, while Germany is ranked 4th in the economic complexity index and 3rd in total exports according to the OEC.

The cooperation between these countries will continue to be positive, the AHK Morocco wants to further strengthen the representation of Morocco in Germany.

Andreas Wenzel says: "Despite the difficult global situation, 2021 is already a record year for German-Moroccan trade relations. Based on developments in 2022, a continued significant increase can be expected''.

It should also be noted that the acting director general of AMDIE, Hicham Boudraa, indicated that ''Morocco, thanks to the strategy and high real orientations, constitutes today a real growth relay for international and German companies in a particular context of post-COVID economic recovery''.

Bilateral trade between Germany and Morocco increased at the beginning of 2022, according to trade figures, with a significant positive development, and the aim of the two countries is to reach the top in all areas in this 2023. The director general of Investment and Business Climate of the Ministry of Investment, Convergence and Development of Public Policies, Ghali Skalli, estimated that "Morocco has become a partner of choice for Germany".

A situation that is noteworthy in a scenario of good diplomatic relations between the two countries, especially in the wake of recent German support for Morocco's Western Sahara initiative based on broad autonomy for the Sahrawi territory under Moroccan sovereignty, which seeks to finally find a solution to the Sahrawi conflict after several decades.

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