In an impressive display of economic collaboration, trade between Morocco and Spain is witnessing significant growth, as reported by the Spanish Secretariat of State for Commerce. The data reveals a flourishing partnership, particularly in the first ten months of 2024, with exports from Spain to Morocco reaching a notable €10.84 billion—a 6.8% increase compared to last year. Meanwhile, Morocco’s exports to Spain have also surged, valued at €8.22 billion, marking a robust 9.1% rise in the same period.
This upward trend in trade highlights not only the strength of commercial ties between these two neighboring nations but also their unique bilateral relations. The dynamic commercial landscape suggests that the previous year’s record—where exports hit €12.15 billion and imports stood at €9 billion—could very well be surpassed, potentially setting new heights for 2024.
Morocco has established itself as Spain’s primary trading partner in Africa, occupying the seventh position globally. Spanish exports to Morocco now account for 3.37% of Spain’s total exports worldwide, a significant figure underscoring the depth of this relationship. Imports from Morocco are also climbing, positioning it as a key player in Spain’s import strategy.
Over the last three years, the volume of trade with Morocco has consistently peaked, with Spanish exports having grown from 3% of the country’s total in 2022 to a projected 3.4% in 2024. Conversely, imports from Morocco have also risen, going from 1.9% to 2.3% during this same timeframe. This positive trajectory signals an increasingly interdependent economic relationship.
Diving deeper into the specifics, Spanish exports to Morocco comprise diverse categories, with fuels and lubricants (20%), mechanical machinery (12%), and vehicles (9%) leading the charge. On the flip side, Moroccan exports to Spain are dominated by household appliances (30%), non-woven clothing (14%), and fresh produce, including fish and fruits.
Evidently, the growing trade relations between Morocco and Spain offer a promising outlook for both nations, showcasing the potential for further economic synergy. As these countries continue to explore new avenues for collaboration, their partnership stands as a testament to the strength of regional cooperation in Africa and beyond.
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