Moroccan Imports Increased Sharply in First Half of 2022

Casablanca – Morocco imported nearly 32 million tons of products worth MAD 365 billion ($34.6 billion) during the first six months of 2022, representing an increase of 44% compared to June 2021, according to recent data published by the country’s Foreign Exchange Office.

This significant increase in import figures concerns the majority of product categories, the office showed, documenting that semi-finished products account for the majority of imports, contributing to MAD 86.59 billion ($8.2 billion) in comparison to MAD 55.8 billion ($5.3 billion) in the same period last year.

According to the Exchange Office, the total volume of Morocco’s purchase of semi-finished products stood at 6.04 million tons in the first half of this year, compared to 6.11 million tons in the previous year.

Plastic goods are Morocco’s second largest imports, with the country importing the equivalent of MAD 11.38 billion (1.08 billion) over the first six months of the current year, compared to MAD 7.99 billion ($759 million) in June 2021.

In the meantime, ammonia imports increased from MAD 2.85 billion ($270 million) in June 2021 to MAD 10.47 billion ($995 million) in 2022, with a growth in volume from 877,388 tons in June 2021 to 936,241 tons in June 2022.

Morocco’s chemical import bill has also increased, reaching MAD 9.46 billion ($899 million) in the first half of this year, up from MAD 5.56 billion ($528 million) during the same period last year. In terms of volume, Morocco’s purchases of chemical products stayed roughly the same in 2021 and this year, standing at approximately 1.47 million tons.

In addition, Morocco’s cardboard imports accounted for MAD 4.91 billion ($466 million) in June 2022, up from MAD 4.16 billion ($395 million) a year earlier.

Meanwhile, the Exchange Office concluded, the North African country’s cereal imports are expected to exceed 10.4 million tonnes by next year, a 35% increase over the 2021-22 average.