Morocco-Brazil Trade Hits Record $3 Billion in 2022, Up 26%

About $2.06 billion in exports to Brazil, up 7.63% from 2021, the ministry’s note states. The "Products of the chemical or allied industries" sector is at the top with $1.87 billion in exports to Brazil, compared to $24.83 million for "Machinery and apparatus, electrical equipment and parts".

For its part, Morocco imported the equivalent of $1.06 billion from the South American country, almost double, as these imports increased by 88.82% compared to 2021, indicates the same source. "Food industry products" dominate with $648.32 million, $13.52 million for imports of "Wood, charcoal and wood articles", it is specified.

At the end of 2022, the trade balance curve showed a surplus of about $1 billion in favor of Morocco, down 26.31% compared to last year ($1.35 billion). With these figures, Brazil positions itself as the fourth commercial partner of the Kingdom, indicates the ministry.