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Rabat – Trade between Argentina and Morocco has reached $1.5 billion in 2022, data compiled by Argentina’s Institute of Statistics and Censuses (INDEC) has shown.
The number is a 48% increase compared to trade recorded between the two countries in 2021.
Morocco’s imports from Argentina amounted to nearly $944 million, an increase of 39% compared to 2021.
Meanwhile, Morocco’s exports to Argentina reached $548 million, an increase of over 68% from the 2021 figure of $326 million.
Argentina’s main imports from Morocco include cars, salt, sulfur, cement, machinery, mechanical parts, and electrical equipment.
Argentina’s exports to Morocco include cereals, animal and vegetable oils, animal feed, and fish products.
Trade between the two countries has tripled over the past five years, moving from $642.9 million in 2017 to $1.5 billion in 2022.
Argentina is the third largest exporter to Morocco after Brazil and Mexico in Latin America. It is also the second-largest destination for Moroccan exports in the region.
Recently, Argentina showed interest in Morocco’s fertilizers market.
In March, the Santa Fe province in northwestern Argentina expressed a determination to develop a win-win cooperation with Morocco in the industry.
The regional production minister in the province Daniel Costamanga stressed the importance of cooperating with Morocco in the field of fertilizers.
He added that Santa Fe and Morocco are preparing to work together on an important investment with the aim of helping develop the province’s resources and boosting its agricultural crops.
“We are going to put all of our energy and all the potential of our policy of stimulating agro-industrial production in the province of Santa Fe into it so that our relations with Morocco develop beyond this investment and so that they are sustainable and beneficial for Morocco, for the province of Santa Fe and for the thousands of farmers who integrate the agricultural complex” of the region, he said.
