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Economy

Bilateral trade between Morocco and Brazil sees significant increase in 2024

Tuesday 21 January 2025 - 11:35

In 2024, trade between Morocco and Brazil saw a growth of 4.52%, reaching a total of $2.77 billion compared to $2.65 billion in 2023, according to the Arab-Brazilian Chamber of Commerce. This increase demonstrates a notable boost in bilateral relations, with a slight trade surplus of approximately $2.2 million by the end of the year.

Brazil's exports to Morocco played a key role in this growth, amounting to $1.39 billion, a 12.2% increase from the previous year. The main products driving this growth were sugar (both cane and beet) and pure sucrose, with 1,923 tons exported valued at $918.1 million (+13.93%), making up 66.07% of Brazil’s exports to Morocco.

Other notable products included corn, with 1,505 tons exported valued at $297.2 million (+0.94%), and live cattle, which saw a dramatic 319.27% rise in export value, totaling $47.22 million for 20,050 tons.

On the import side, Brazil’s imports from Morocco totaled $1.39 billion in 2024, a slight decrease of 1.7% compared to 2023. Morocco remains Brazil's third-largest Arab supplier, particularly in mineral and chemical fertilizers, with 51.53% of these imports consisting of multi-nutrient fertilizers ($714.9 million), and 32.23% phosphates ($447.2 million).

The key Brazilian states involved in exports to Morocco are São Paulo (48.3%), followed by Mato Grosso (18.4%) and Minas Gerais (10.6%). For imports, Rio Grande do Sul (27%) and Paraná (24%) are the leading states.

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