Morocco’s Trade Surplus with Sub-Saharan Africa hits 12 bln DH in 2016
Morocco registered a trade surplus in its trade with Sub-Saharan Africa, which jumped from 1.3 billion dirhams in 2008 to 11.9 in 2016, said Morocco’s Foreign Exchange Office.
Morocco’s trade with Sub-Saharan African countries posted a steady growth averaging 9.1% during the 2008-2016 period, said the Office in a report on trade between Sub-Saharan Africa and Morocco between 2008 and 2016.
According to the report, Morocco’s trade with Sub-Saharan Africa represents 3% of its overall trade in 2016, compared to 2% in 2008.
West Africa remains Morocco’s main trading partner in the continent with a share of 58.2% in 2016, followed by East Africa (15.5%), Central Africa (12.4%) and Southern Africa (13.4%), said the Office.
During the same year, Morocco geared 53.1% of its foreign direct investments to Sub-Saharan Africa. In 2015, Morocco’s investments in Sub-Saharan Africa grew to 3 billion dirhams compared to 1.2 billion dirhams in 2014.
West Africa is also the main destination of Morocco’s FIDs with 64.7% during the 2011-2015 followed by Central Africa (25.3%) and Eastern Africa (10%).
Morocco’s FDIs are injected in 13 countries in the continent, notably Côte d’Ivoire with a total value of 4.8 billion dirhams in 2015, followed by Mali with 4.2 billion dirhams, Benin (1.6 billion dirhams) and Gabon (1.4 billion dirhams).