Moroccan exports to Brazil reached more than $ 574 million in the first half of this year, an increase of 13.91% compared to the same period in 2020, MAP has learned from the Brazilian Ministry of the Economy. .
During the same period in 2020, the Kingdom’s exports were $ 504 million.
During the first half of this year, Morocco posted a trade surplus of nearly $ 364 million with South America’s largest economy, up 55.28% from the first six months of last year.
In addition, the Kingdom imported nearly 210.4 million dollars of Brazilian products between January and June 2021, 22.02% less compared to the same period of last year (269.8 million dollars)
In June alone, Morocco exported $ 108.7 million worth of products to Brazil, an increase of 17.81% compared to the same month last year ($ 92.3 million).
In the other direction, the Kingdom imported Brazilian products for 32.6 million dollars during the same month, against 65.4 million dollars in June 2020 (-50.2%). Moroccan exports to Brazil have shown sustained growth in recent months, with $ 59,804,361 in February, $ 90,834,414 in March, $ 98,400,050 in April, $ 115,265,171 in May and $ 108,755,108 in June.
During the year 2020, Moroccan exports to the Brazilian market increased by 17.4% in terms of revenue and 32% in volume.
In the other direction, Brazilian exports to Morocco increased by 43% last year, totaling 671.28 million dollars, driven in particular by a significant increase in the export of chicken, which grew by 49.2 % in volume and 3.4% compared to 2019 figures.
The Kingdom, which continues to prance at the top of the Arab explorer countries towards Brazil, was in surplus in 2020 with the South American giant, which has become Morocco’s third largest trading partner, just behind France and Spain.