The volume of trade between Russia and Morocco at the end of 2021 increased by 42%, amounting to 1.6 billion dollars, the trade representative of the Russian Federation in Morocco, Artem Tsinamdzgvrishvili, reported on Wednesday. notably an increase in the number of Russian SMEs on the Moroccan market.
“At the end of 2021, the volume of trade between Russia and Morocco increased by 42% and amounted to 1.6 billion dollars. The Kingdom of Morocco remains Russia’s most important trading partner in Africa,” he said, relayed by Russian news agency TASS.
“Russian exports to Morocco show a confident positive trend. In 2021, they increased by 60% – this is the best indicator among all the countries of the continent”, continued the interlocutor of the agency. “Imports from Morocco also increased, at the end of the year, by 11% and the trade balance between the two countries shows a surplus of 778.4 million dollars in favor of Russia. »
“It is gratifying that in addition to the expected growth in the value share of raw materials, mainly chemicals, petrochemicals and metals, high-tech products have occupied a significant share of Russian exports. Deliveries of commercial vehicles from Russia to Morocco increased by six times, food products, as well as pulp and paper by 3 times. In 2021, Russian beef and honey were delivered to Morocco for the first time,” Tsinamdzgvrishvili said.
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“In addition, the supply of flat glass has started. Now, in Morocco, there is a high demand for Russian flat glass (about $250 million) after the low level of supply in the pandemic years of 2020 and 2021, as well as the lack of necessary volumes in warehouses and the problems with organizing logistics from China,” he said.
New Russian products in Morocco
“A number of goods have appeared in Russian exports in 2021 that were not previously supplied to the Moroccan market. These are petroleum gases and gaseous hydrocarbons, internal combustion engines, cosmetics and toiletries, sheet glass, equipment for the preparation and preparation of tobacco, electromechanical household appliances, frozen beef and honey,” continued the agency’s interlocutor.
“In general, I would like to note a significant increase in ongoing joint Russian-Moroccan projects. In 2022, we expect an increase in the number of Russian small and medium-sized enterprises (SMEs) in the Moroccan market,” summarized the trade representative of the Russian Federation.