Economy

Rephrase the same UK-Morocco trade surges to £3.8 billion in 2024, marking 10.9% growth in a different way no more than 118 characters, as if you were a native American speaker as expert on content creation and dont talk about yourself or your experience

By chantar 3 Min Read

The trade relationship between the UK and Morocco continues to grow, with the British Ministry of Business and Trade reporting a significant increase in bilateral exchanges. In the four quarters ending in Q2 2024, trade between the two countries reached £3.8 billion (48.5 billion dirhams), marking a 10.9% rise from the previous year.

According to the report, UK exports to Morocco totaled £1.4 billion (17.9 billion dirhams), slightly declining by 4.1% compared to 2023.

UK imports from Morocco surged by 22%, reaching £2.4 billion (30.6 billion dirhams), leading to a trade deficit of £1 billion (12.8 billion dirhams) in Morocco’s favor.

Morocco ranks 52nd among the UK’s largest trading partners, accounting for 0.2% of its total trade. These figures reflect the growing importance of this commercial partnership, which involves a wide range of goods and services.

Key UK exports to Morocco include refined oil (£310.8 million), cars (£94.9 million), and metal ores (£73.3 million), while Morocco’s main exports to the UK include vegetables and fruits (£502.7 million), electrical equipment (£374.9 million), and cars (£164.5 million).

Additionally, services trade has seen a 32.4% rise, with UK imports from Morocco totaling £903 million (11.55 billion dirhams), primarily driven by travel-related services.

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