Morocco and Spain continue to experience a very good relationship at all levels.
The economic and commercial sphere does not escape this dynamic and proof of this is that the volume of trade between both neighbouring and friendly nations grew very strongly during the first ten months of 2024, according to official data from the Spanish Secretary of State for Trade.
Between January and October 2024, Spanish exports to Morocco reached 10,843 million euros, 6.8 % more than the previous year, while Morocco’s exports to Spain amounted to 8,220 million euros, 9.1 % more, according to the report by the Spanish State Secretariat for Trade.
This increase in trade has been greater than that experienced between Spain and other countries during the same period, which shows the ‘coherence of trade links’ between Morocco and Spain and the ‘relations of excellence’ between the two countries.
Taking into account the latest data recorded in 2024, the last record set in 2023, with 12,145 million euros in exports and 9,032 million euros in imports, ‘should be widely surpassed’ in the whole of 2024, reaching ‘a historic level’, according to the same source.
The Spanish Secretary of State for Trade also pointed out that Morocco has become the leading recipient of Spanish exports in Africa and the seventh worldwide, noting that Spanish exports to Morocco accounted for 3.37% of the world total.
As for Moroccan imports from Spain, they rank first among imports from Africa and tenth worldwide.
Over the last three years, trade between Spain and Morocco has reached its peak.
In 2022, Spanish exports to Morocco accounted for 3% of the country’s total exports, a figure that rises to 3.2% in 2023, and is expected to reach 3.4% in 2024. This is good news for Spain.
As for imports, they increased from 1.9% in 2022 to 2.1% in 2023, reaching 2.3% of total trade during the first ten months of 2024.
The State Secretariat for Trade specifies that Spanish exports to Morocco are diverse, with fuel and lubricants (20%), mechanical machinery (12%) and vehicles (9%) standing out.
Meanwhile, Spanish imports from Morocco are mainly made up of electrical material (30%), non-knitted clothing (14%), vehicles (12%), fish (10%) and fruit (6%).
Close ties
These excellent trade figures between Morocco and Spain highlight the great momentum of relations between the two neighbouring countries on both sides of the Mediterranean.
This relationship has been boosted and favoured by the latest stage of total harmony following the decision of the Spanish government of Pedro Sánchez to recognise Morocco’s Autonomy Plan for Western Sahara as the most serious, credible and realistic option for resolving the Sahrawi problem, which has lasted almost five decades since Spain left the territory, putting an end to the colonial era.
This Spanish support prompted King Mohammed VI to invite Prime Minister Pedro Sánchez to visit Rabat. At the meeting between the two leaders in April 2022, the roadmap for the relationship between the two nations was established, which marked what would become the subsequent High Level Meeting in Rabat in February 2023, under the presidency of the head of the Moroccan government, Aziz Akhannouch, and Pedro Sánchez himself, at which dozens of political, economic, social and cultural agreements were signed that were very beneficial for both nations.
This new stage intensified ties between the two countries at all levels, further strengthening political and economic cooperation in all spheres. In this scenario, important trade and economic agreements have stood out, which have favoured exchanges and generated more profits for both countries, as demonstrated by the recent opening of customs in Ceuta and Melilla or the excellent trade data in 2024.
Trade between Morocco and Spain in 2024 has set a record and demonstrated the relevance of the good relationship between the two nations. Looking ahead, mutual investments and cooperation in strategic sectors such as energy transition and digitalisation are expected to further strengthen this bond.
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