Spanish exports to Morocco have steadily increased over the past five years, with a record high in 2024, while Morocco also remains a key supplier to Spain. Both countries continue to deepen their economic ties, with Spain being Morocco's largest EU trade partner and significant investor, and Morocco growing as a supplier and client in Spain's global trade. Spanish exports to Morocco have shown consistent growth over the past five years, with a slight dip in 2020 due to the COVID-19 pandemic, according to data by the Spanish Ministry of Economy and Trade shared with Yabiladi on Monday. Total exports ranged from €7.352 billion in 2020 to €12.859 billion in 2024. Increases of 24% were recorded in 2022, followed by 4% in 2023, and a 5% growth in 2024. The main exports from Spain to Morocco in 2024 were fuels (18%), machinery (12%), vehicles (11%), electrical equipment (9%), and plastics (6%). Similarly, imports from Morocco to Spain have also been steadily increasing, except in 2020. These imports ranged from €6.372 billion in 2020 to €9.834 billion in 2024. There was a 19% increase in 2022, 4% in 2023, and a 9% growth in 2024. The top categories of Spanish imports from Morocco in 2024 included electrical equipment (30%), non-knitted clothing (15%), vehicles (12%), fish (9%), and fruits (6%). Morocco a supplier and a client for Spain Morocco plays a crucial role as both a supplier and a client in the bilateral trade between the two countries. In 2024, Morocco accounted for 3.34% of Spain's total exports, making it Spain's 7th largest global client and 3rd outside the EU, after the UK and the US. It remains Spain's primary client in Africa, representing 61% of Spain's sales to the continent and 79% of sales to North Africa. As a supplier, Morocco contributed 2.32% of Spain's total imports in 2024, positioning it as Spain's 10th largest supplier globally and 4th outside the EU. Morocco is also Spain's leading supplier in Africa, accounting for 28% of Spain's total imports from the continent. The importance of Morocco as a trading partner has grown significantly over the years. In 2000, Morocco accounted for just 1.1% of Spain's global exports and 0.57% of Spain's imports. Spain, leading EU supplier to Morocco In 2024, Spain was the leading EU supplier to Morocco, accounting for 37% of Morocco's total imports from the EU. It was followed by France (20%), Germany (10%), and Italy (8%). Additionally, Spain was Morocco's largest client within the EU, representing 38% of Morocco's exports to the EU, ahead of France (27%) and Italy (9%). According to data from Morocco's Office des Changes, in 2023, Spain was Morocco's largest supplier, contributing 15.7% of Morocco's total imports, surpassing China (10.6%) and France (10.6%). Spain was also Morocco's top global client, receiving 22.5% of Morocco's total exports, ahead of France (20.3%). Spain has been a significant investor in Morocco. As of December 2022, Spanish investments in Morocco amounted to €1.905 billion, creating 27,655 jobs. This positions Morocco as the 29th largest destination for Spanish investments globally and the top investment destination in Africa, accounting for 32% of Spain's total investments on the continent. Spanish investments are diverse, spanning sectors such as insurance, construction, non-metallic products, paper, and beverages. On the other hand, Moroccan investments in Spain amounted to €152 million in 2022, creating 667 jobs. Morocco is the 62nd largest global investor in Spain and the 5th largest African investor, with a focus on financial services, trade, and real estate.
