Casablanca – Trade between Morocco and the United Kingdom has experienced significant growth, underscoring the strengthening economic ties between the two nations. In the four quarters ending in Q2 2024, bilateral trade reached $4.93 billion, marking a 10.9% increase compared to the same period in the previous year, according to a report from the British Ministry of Business and Trade.

UK exports to Morocco totaled $1.84 billion, reflecting a slight decline of 4.1% from 2023. Meanwhile, Moroccan exports to the UK surged by 22% to $3.15 billion. This imbalance resulted in a trade deficit of $1.31 billion in Morocco’s favor, highlighting its growing role as a significant supplier to the UK market.

Major commodities driving trade

Goods dominate the trade relationship, making up 69.1% of UK exports and 62.9% of Moroccan exports. Among the UK’s top exports to Morocco were refined oil, valued at $412 million, cars at $126 million, and metal ores at $97 million.

On the other side, Morocco’s main exports to the UK included vegetables and fruits at $665 million, electrical equipment at $494 million, and cars at $218 million. The exchange reflects a mutually beneficial relationship where both countries supply goods critical to each other’s markets.

Expansion in services

The trade in services has also seen robust growth, with UK imports of Moroccan services rising by 32.4% to $1.17 billion. Travel services dominated this sector, accounting for 83.5% of Morocco’s total service exports to the UK. This increase demonstrates the growing appeal of Morocco as a tourist destination for British citizens, contributing to the broader economic partnership.

Morocco’s rising significance

Morocco ranks as the UK’s 52nd largest trading partner, contributing 0.2% to its total trade. This marks a steady rise in Morocco’s importance in UK trade, with the partnership showing consistent growth over the years.

Bilateral trade volumes rose from $2.77 billion in 2021 to $4.36 billion in 2022 and $4.87 billion in 2023. This upward trajectory emphasizes the sustained effort by both nations to deepen economic collaboration.

A promising future

The diverse range of goods and services exchanged highlights the potential for further expansion of this trade relationship. With Morocco’s role as a supplier of essential goods and a growing provider of services, the two countries are well-positioned to build on their partnership.

As global trade dynamics evolve, the Morocco-UK relationship stands out as an example of resilience and mutual benefit, with both nations committed to enhancing their economic ties for years to come.