The relationship between Morocco and Israel seems to be moving in the right direction. Since the re-establishment of diplomatic relations, the two countries have signed various economic and trade cooperation agreements. As a result of this process, trade between the Kingdom and Israel reached $117 million in 2021.
According to the Israel Export Institute, based on information from the Central Bureau of Statistics, the increase in exports was more than 200% compared to 2020. In the same year, the trade balance is in Israel's favour.
Despite Ohad Cohen, director of Israel's Foreign Trade Administration, claiming that imports of goods to Morocco were down 15% in 2021 compared to the previous year, the United Nations COMTRADE database on international trade reaffirms the growth of trade between the two countries and puts it at over $100 million.
Most of these Israeli exports are vehicles, aircraft and ships. In addition, transport equipment, plastics, rubber and rubber products, industrial chemicals, machinery, electrical equipment, and audio and video technology stand out. Meanwhile, Moroccan exports to the Jewish state include auto parts, textiles and textile products, olives, canned fish and pasta.
The growth of exports and therefore the value of trade relations between the two countries is soaring, so much so that in 2020 Morocco alone exported $9.76 million worth of goods to Israel, and similarly in the same year, Israel alone exported $11.2 million worth of goods to the Kingdom; very small figures compared to those obtained in 2021.
Both countries aim to reach $250 million in imports and exports next year, an amount that, following the progressive trade recovery of the two countries, seems quite possible.