Morocco has turned the tide of the trade balance with France over the past decade with a booming auto industry, French Ambassador Hélène Le Gal told online media le360.ma.
“We have gone from a French trade surplus to a Moroccan trade surplus, because Morocco exports a lot more to France than it imports. Morocco particularly exports automobiles, and that’s the big difference, ”Le Gal said in an interview.
The surplus according to the French diplomat is driven by the kingdom’s vehicle exports to Europe and France in particular.
“The French are starting to buy cars again, many of which come from Morocco. This explains France’s trade deficit with Morocco. This deficit is growing from year to year, so we will have to be more offensive to be able to fill it, ”added the diplomat.
Morocco’s vehicle exports are carried out by French car manufacturers Renault and Peugeot established respectively in Tangier, Casablanca and Kénitra.
A report from the French mission in Rabat dated December 2020 notes that Morocco’s exports to the European country increased by 70.5% between 2012 and 2019.
“Our exports to the Kingdom only increased by 18.3%. Under these conditions, our bilateral balance went from a surplus of 753 million euros to a deficit of 816 million euros, ”the report states.
France is Morocco’s second largest trading partner with 12.2 percent of the total volume, just behind Spain with 15.6 percent.