Spain, Morocco’s Main Trading Partner in 2016

Spain, Morocco’s Main Trading Partner in 2016

For the fourth year in a row, Spain stands as the main trading partner for Morocco in 2016, Morocco’s statistics office said.

Spain stands as Morocco’s main trading partner taking 23.3% of the total Moroccan exports and providing 15.7% of its imports in 2016, the same source added.

The EU as a whole took 46% of Morocco’s exports and supplied 54% of its imports, Eurostat said.

Spanish exports to Morocco represented 33.2% of total EU exports to Morocco while Morocco’s exports to Spain account for 40.6% of its total exports to the EU, Eurostat noted.

These figures show the close commercial ties between Morocco and Spain, which grew six folds in the last 6 years to stand at 12.6 billion euros, representing 10% of Morocco’s GDP.

During the same period (2010-2016), Morocco’s imports from Spain rose from 3.41 to 6.93 billion euros while its exports jumped from 2.68 to 5.67 billion euros.

The latest data from Morocco’s foreign trade department show that Morocco’s imports from Spain rose by 17.81% by February 2017 compared to the same period last year, while exports to Spain jumped by 21.42%, indicating that the trade balance is on course to be even between the two countries.

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