Trade exchange between Morocco and Saudi Arabia rose 37.14 percent during the first nine months of 2018 to reach MAD 9.64 billion (USD 1.01 billion) compared to MAD 7.03 billion (USD 740 million) the previous year.
This resulted from a 41 percent rise in Saudi exports to Morocco to MAD 8.54 billion due to the increase in oil prices.
Meanwhile, Moroccan exports to Saudi Arabia rose around 10.4 percent due to Riyadh’s doubling of passenger vehicles, especially those manufactured in Morocco.
The total value of Moroccan exports to Saudi Arabia reached MAD 995 million (USD 105 million).
The trade deficit between the two countries reached MAD 7.64 billion (USD 804 million), rising 46 percent, compared to the same period last year.
In some sectors, Morocco’s exports to the Kingdom saw a sharp rise, such as the vehicle industry, which witnessed an increase of 94 percent and reached MAD 163 million (USD 17.2 million).
The vehicle industry ranked second behind the Phosphoric acid exports that totaled MAD 460 million (USD 48 million) – a rise of 8.5 percent.
Moroccan product exports to the Kingdom witnessed a sharp rise, especially Zellige tiles, flowers, olive oil and dried and citrus fruits.
Furthermore, Saudi exports to Morocco included mainly petroleum products, such as gas oil and fuel, whose value saw an increase of 70 percent due to the rise in oil prices.
Moroccan purchases of Saudi sulfur also sharply rose 452 percent, reaching MAD 865 million (USD 91 million).