Posted by: MOROCCO WORLD NEWS
Rabat – Exports between Morocco and Brazil have increased at a rapid pace during the first five months of 2017, registering a growth of 53.8 percent revealed Brazil’s Ministry of Development, Industry and Trade (MDIC).
Brazilian exports to Morocco totaled USD 247.8 million between January and May of 2017, a notable increase on the same period in 2016, when USD 161.1 million of exports were registered.
Data collected by MDIC shows that sugar and other sugar cane-derived goods are the most exported products from Brazil to Morocco, holding a market share of 83.55 percent. Semi-manufactured products are the next most exported items, holding 3.42 percent of the market.
MDIC specified that the sugar and sugar cane-based exports exceeded USD 207 million between January and May 2017, compared to USD 130.6 for the same period in 2016. Semi-manufactured products reached USD 8.4 million, added the same source.
Moroccan exports to Brazil have increased by 55.77 percent this year, registering a growth of USD 283.2 million.
Phosphate-derived substances and chemical products are among the most important products that Morocco exports to Brazil and by the end of May this year, exports totaled USD 239.9 million. Exports between January and May in 2016 amounted to USD 136.03 million.
Brazilian exports have increased globally and MDIC noted that this figure was 11.24 percent at the end of May, the equivalent of USD 4.84 billion.