Between January and October 2024, Spanish exports towards the Morocco reached 10.843 billion euros, an increase of 6.8%, while exports of Morocco towards theSpain amounted to 8.220 billion euros, up 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 ties” between Morocco and Spain and of the “excellence relations” between the two Kingdoms, underlines the State Secretariat for Commerce.
If the current dynamic continues, the last record established in 2023, with 12.145 billion euros in exports and 9.032 billion euros in imports, “should be largely beaten” in 2024 by reaching “a historic level”, assures -he.
The Spanish Department of Commerce further notes that Morocco has become the first recipient of Spanish exports in Africa and the seventh at the global level, noting that Spanish exports to Morocco represented 3.37% of the world total.
Regarding the Moroccan imports coming from Spain, they occupy first place among imports from Africa and tenth globally, he continues.
During the last three years, the commercial exchanges between Spain and Morocco have reached their 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 et lubricants (20%), the mechanical machines (12%) and vehicles (9 %).
Spanish imports from Morocco consist mainly of electrical equipment (30%), of non-knitted clothing (14%), from vehicles (12%), from Pisces (10%) and fruits (6 %).
