Commercial relations between Morocco and Spain continue their good momentum. The volume of trade between the two neighbors experienced strong growth during the first ten months of 2024, according to the Spanish State Secretariat for Commerce. Between January and October 2024, Spanish exports to Morocco reached 10.843 billion euros, up 6.8%, while Morocco’s exports to Spain amounted to 8.220 billion euros, up by 9.1%, according to official Spanish data.
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.
Morocco has established itself as the leading recipient of Spanish exports in Africa and the seventh globally. Spanish exports to Morocco represented 3.37% of the world total. Concerning 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 expected to reach 3.4% in 2024. As for imports, they increased from 1.9% in 2022 to 2.1% in 2023, to reach 2.3% of total trade during the first ten months of 2024.
Morocco
