Spain Strengthens Trade Relations with Morocco with Exports Reaching $12.1 Billion
The economic relationship between Morocco and Spain is experiencing remarkable growth, as the ties between the two countries increasingly strengthen towards enhancing their trade exchange. According to data from Spain’s National Institute of Statistics, approximately 893,953 Moroccans reside legally in Spain, while the number of Spaniards residing in Morocco does not exceed 13,204.
Regarding trade exchange between Madrid and Rabat, figures indicate significant development in economic ties. Spain exported goods worth $12.1 billion to Morocco last year, while Morocco exported products valued at $8.55 billion to Spain. Insulated wire is the main product Morocco exports to Spain, with a total value of $1.55 billion, representing 18.2% of Morocco’s total exports.
Women’s non-woven clothing ranks second among Moroccan exports to Spain, accounting for 9.90% of the total, with a value of $847 million, equivalent to about €766 million. Conversely, men’s non-woven clothing represents only 1.59% of exports, valued at €123 million.
Cars occupy the third place, contributing to 8.30% of Moroccan exports, followed by car parts and accessories (5.04%), manufactured crustaceans (3.56%), and mollusks (3.20%). Last June, Spain exported products worth €896 million to Morocco, while its imports from Morocco reached €788 million.
Moroccan imports from Spain – particularly from cities like Madrid, Barcelona, Zaragoza, and Pontevedra – include products such as refined oil, internal combustion engines, vehicles, soybean oil, and plastic packaging materials.
According to the institute, Spanish imports from Morocco in 2022 amounted to €8.692 million, marking a 19.1% increase compared to 2021. Morocco was Spain’s 13th largest supplier that year, accounting for 1.9% of total imports.
The trade coverage rate of Spanish trade with Morocco showed a declining trend between 2017 and 2020, reflecting an increasing balance in trade exchange and greater integration in trade flows between the two countries. The rate was 127.55% in 2017, and it declined to 116% by 2020.
Last February, Madrid announced its intention to increase the number of Spanish companies investing in Morocco, as discussed by Spanish Prime Minister Pedro Sánchez during his visit to Rabat. He expressed dissatisfaction with the current number of companies and his ambition to increase it, according to Spanish press reports.
According to official figures, Costa del Sol has been Morocco’s main trading partner since 2012, with more than 800 Spanish companies operating in Morocco. The Moroccan market receives a wide range of Spanish products, whether they are food, industrial, or otherwise.
