Trade relations between Morocco and Spain continue to strengthen, recording remarkable growth over the first ten months of 2024. According to data from the Spanish Secretariat of State for Commerce, Spanish exports to Morocco reached 10 843 euros, marking an increase of 6.8%, while Moroccan exports to Spain climbed 9.1%, totaling 8.22 trillion euros.
This upward trend, which exceeds that of trade between Spain and other countries, illustrates the solidity and intensity of economic relations between the two kingdoms. Indeed, Morocco is now Spain’s main trading partner in Africa and ranks seventh globally for Spanish exports, representing 3.37% of the country’s overall trade.
For their part, Moroccan imports from Spain rank first among imports from Africa and are in tenth position globally. Trade between the two countries has grown exponentially in recent years, reaching a peak in 2023 with 12,145 billion euros in Spanish exports and 9,032 billion euros in Moroccan imports. This record should be largely exceeded in 2024, achieving a new historic milestone.
The products traded brought notable diversification. Fuels and lubricants dominate Spanish exports to Morocco with 20%, followed by mechanical machines (12%) and vehicles (9%). On the other hand, Spanish imports from Morocco mainly focus on electrical equipment (30%), non-knitted clothing (14%), vehicles (12%), fish (10%) and fruits (6%). . .
This positive development demonstrates the excellence of bilateral relations and joint efforts to consolidate a strategic economic partnership. If this dynamic continues, the two countries are preparing to take a historic step in their commercial cooperation.
Source : MAP
Morocco
