Trade between Morocco and the United States saw a substantial growth of nearly 58% during the past year, reaching a total of 69 billion Moroccan Dirhams, compared to 43.5 billion Dirhams in 2021.
This increase can be attributed to rising prices of various products.
The two countries are bound by a free trade agreement since 2006, which is the only one that connects Washington with an African nation and allows the export and import of several products without customs duties.
Data from the annual foreign trade report reveals that Morocco imported products worth 54.7 billion Dirhams from the United States last year, compared to 33.5 billion Dirhams in 2021, representing a 63% increase.
In contrast, Morocco exported products valued at 14.3 billion Dirhams to the United States last year, up from 9.9 billion Dirhams the previous year, indicating a growth of 44%.
Morocco records a trade deficit of around 40.3 billion Dirhams with the United States. This trade imbalance is also seen in various other free trade agreements that Morocco has with different countries, similar to those signed with Turkey.
Morocco imports various products from the United States, including beverages, tobacco, energy materials, agricultural and industrial equipment.
The US is the leading supplier of butane gas to Morocco. Last year, Morocco imported butane gas worth 18.8 billion Dirhams, compared to 7.7 billion Dirhams in 2021, indicating an increase of 11 billion Dirhams, partly due to the rise in butane gas prices.
Conversely, Washington is the primary destination for Moroccan citric acid exports, valued at 1.3 billion Dirhams last year, surpassing Canada, France, the Netherlands, and Russia.
Moreover, Morocco exports natural and chemical fertilizers to the US, with a volume of 468,000 tons last year, totaling 3.9 billion Dirhams.
