EBetween January and October 2024, Spanish exports to Morocco reached 10.843 billion euros, an increase of 6.8%, while Morocco’s exports to Spain amounted to 8.220 billion euros, an increase by 9.1%, according to the same source.
This increase in trade, significantly higher than that recorded by Spain with other countries in the world during the same period, constitutes proof of the “consistency of commercial links” between Morocco and Spain and “excellence in relationships” between the two Kingdoms, underlines the State Secretariat for Commerce.
If the current dynamic continues, the last record set in 2023, with 12.145 billion euros in exports and 9.032 billion euros in imports, “should be soundly beaten” in 2024 by reaching “a historical level”, he assures.
The Spanish Department of Commerce further notes that Morocco has become the first recipient of Spanish exports in Africa and the seventh globally, noting that Spanish exports to Morocco represented 3.37% of the world total.
Regarding Moroccan imports from Spain, they occupy first place among imports from Africa and tenth globally, he continues.
During the last three years, trade between Spain and Morocco has reached its peak, the weight of trade with Rabat having increased exponentially, he noted.
In 2022, Spanish exports to Morocco represented 3% of the country’s total exports, a figure rising to 3.2% in 2023, and is expected to reach 3.4% in 2024.
As for imports, they increased from 1.9% in 2022 to 2.1% in 2023, reaching 2.3% of total trade during the first ten months of 2024.
The State Secretariat for Commerce specifies in this regard that Spanish exports to Morocco are relatively diversified, the main categories being fuels and lubricants (20%), mechanical machines (12%) and vehicles (9%).
Spanish imports from Morocco consist mainly of electrical equipment (30%), non-knitted clothing (14%), vehicles (12%), fish (10%) and fruit (6%).
(with MAP)
