Despite a critical situation, external demand for Moroccan products remains increasing. This is the case, in particular, for Spain, whose imports from Morocco evolve from year to year, in particular for primary sector products.
Trade between Morocco and Spain has always been dynamic, despite some periods of latency due to diplomatic tensions between the two countries. And everything suggests that the positive trend in these exchanges will be maintained.
The latest data indicates, in fact, that trade between Rabat and Madrid will break records for the fourth consecutive year.
Thus, during the first 10 months of 2024, Moroccan exports to Spain increased by 6.8% year-on-year. At the same time, we observe an evolution of 9.1% in terms of imports from Madrid. These figures represent the highest data ever recorded for this period.
Good vintage
Analysis of indicators predicts an economic slowdown in countries like France and Germany, which could lead to negative export figures by the end of the year. However, economic relations with Morocco should not be affected in the long term.
Proof of this is that Spain’s exports to non-European destinations, which represent 38.5% of this country’s foreign trade, record an increase of 9.6% compared to 2023.
Regarding trade with Morocco, they increased by 0.7% in October 2024, consolidating the Kingdom as the second destination for Spanish exports outside the European Union after the United States. On the other hand, imports decreased by 0.4% over the same period.
A diverse palette
Note that fruits and vegetables remain the main products imported from Morocco, due to the drought which also affects the Iberian Peninsula. Spanish imports from the Kingdom also included products such as insulated cables, worth €166 million (€166 million), mollusks (€85.8 million), motor vehicles, parts and accessories (€45 million). .1 M€), non-woven textile (38.1 M€) and other fruits (44.1 M€).
That same month, the main exports to Morocco were refined petroleum (€95.8 million), engines (€85.8 million), motor vehicles, related parts and accessories (€67.4 million), soybean oil (€47.3 million) and plastic caps (€27.8 million).
Maryem Ouazzani / ECO Inspirations
