Moroccan exports to Brazil reached more than $251.88 million in the first quarter of 2021, i.e. an increase of 23.18% compared to the same period last year, MAP learned from the Brazilian Ministry of Economy.
As for imports, they amounted to $ 141.74 million. The Kingdom has a surplus of $ 110.13 million with the first economy of Latin America, according to the same source.
In the first quarter of 2020, Moroccan exports amounted to $204.49 million, while imports amounted to $132.29 million. Thus, the trade surplus in favor of Morocco climbed in the first quarter of 2021 by 52.56% compared to the first three months of last year.
Compared to the previous quarter (October-December, $334.40 million), Moroccan exports fell by 24.68%. Moroccan imports stood at $207.51 million.
In the last quarter of last year, Morocco's trade surplus was $126.89 million, 13.2% higher than the first quarter of 2021.
After signs of recovery in the last two quarters of 2020, Brazil has slipped back into recession as a result of restrictions imposed to deal with a more contagious and deadly wave of the coronavirus.
Last year, Moroccan exports to the Brazilian market increased by 17.4% in terms of revenue and 32% in volume.
Brazilian exports to Morocco increased by 43% last year, totaling $ 671.28 million, driven in particular by a significant rise in the export of chicken, which grew by 49.2% in volume and 3.4% compared to 2019 figures.
