São Paulo – Moroccan exports of phosphates and their products grew 87% in the first half of this year as against the same period last year. According to information disclosed by the Foreign Exchange Office of Morocco and published in African news agency Panapress, foreign sales rose from 1.44 billion euros from January to June 2010 to 2.7 billion in the same period this year.
The Arab country is one of the great global producers of phosphates and their products and the main exporter, according to information disclosed by the US Central Intelligence Agency’s (CIA) World Factbook. Morocco supplies over 30% of the global market, according to Panapress, and produces 30 million tonnes a year, with a large part of production going to Europe. The product is mainly used as a fertilizer or in fertilizer production.
Brazil is also a buyer of Moroccan phosphate. From January to July this year, the country imported US$ 366 million in fertilizers from Morocco, as well as US$ 104 million in phosphate products for industry. In fertilizers, there was growth of 219% over the same period last year. In total, shipments reached US$ 471.1 million, equivalent to 326.7 million euros (at current exchange rates), or 12% of total Moroccan phosphate and phosphate product sales.
Brazil is greatly dependent on the import of fertilizers due to the scale of farming. And the great growth has caused Brazilian leaders to seek strategies to solve the problem, boosting local industry to operate in the area. From January to July this year, Brazil imported 8.9 million tonnes of fertilizers, with expansion of 51% over the same period in 2010, according to figures disclosed by the National Association for the Promotion of Fertilizers and Lime (Anda).
Morocco has in the phosphate industry one of its main sources of income. The local industry, however, produces other export items, like garments, electric components, fruit, oil, fish and vegetables. Industry answers to 31% of the Moroccan Gross Domestic Product (GDP), which reached US$ 103.5 billion in 2010. The service sector is mainly responsible for the economic movement in the country, due to tourism.
*Translated by Mark Ament
