The commercial exchanges between Morocco and African countries have registered a yearly increase of 14% on average during the last decade, reaching 37.5 billion Dirhams in 2014 (USD 3.8 billion), equivalent to 6.4% of the foreign trade of the kingdom against 4.1% in 2004, according to official data published on 22^nd October.

Most of the trade is done with North African countries (58% in 2014), according to the economic and financial report supporting the 2016 Finance bill. The remainder of the trade occurs between the kingdom and sub-Saharan Africa.

In value, the trade with Northern Africa represented 17.6 billion Dirhams in 2014, including 13.1 billion in imports and 4.5 billion in exports.

The trade with sub-Saharan Africa reached last year 13.2 billion Dirhams against 2.3 billion in 2004, which is a growth of 19% per year on average.

The trade balance of Morocco with sub-Saharan Africa, largely favourable since 2008, improved even more these last years to reach 10.6 billion Dirhams in 2014.

The report moreover notes that direct investments made up 83% of Moroccan investments in Africa. These investments represent 49% of the total Moroccan foreign direct investment between 2003 and 2014. Moroccan direct investments in Africa were made particularly in the banking sector (52%), telecommunications (29%) and real estate (5%).