The value of these exchanges amounted to 508.6 billion dirhams in 2019, up 1.2%, that is more than 2 bln MAD compared to 2018, said the Office in its annual report on Morocco's foreign trade.

This situation is explained by the increase in trade with Turkey by 4.7 billion dirhams to reach 31.8 billion dirhams in 2019, combined with the development of +3.8 billion dirhams in trade with France, explained the report, noting that the increase also concerned trade with Spain, Morocco's top trading partner for six years (+2.3%) with 144.4 billion dirhams in 2019.

Exchanges with Asia intensified for the second consecutive year, marking an increase of 9.2 billion dirhams and amounting to 131.7 billion dirhams in 2019, the Office underlined, attributing this development to the increase in exchanges with China which totaled 52.6 billion dirhams but also the development of trade with India of 2.4 billion dirhams. As for the United Arab Emirates, they contributed 1.4 billion dirhams to this increase in trade with Asia.

Trade with America continued to improve for the fourth successive year, but with a less marked pace, i.e. +1.5% in 2019 against +11.8% in 2018, while trade with Africa, are down 0.9 billion dirhams after the rise observed in 2018 of 3.2 billion dirhams.

The structure of the trade deficit by continent remains unchanged in 2019, noted the report, adding that Morocco is in deficit with all the continents except Africa. Imports from Europe exceed exports by 107.8 billion dirhams and the deficit with Asia continues to worsen from 66 to 76.2 billion dirhams.

The trade surplus with Africa is increasing by 1 billion dirhams, jumping from 2.7 billion dirhams in 2018 to 3.7 billion dirhams in 2019, the Office noted.