Casablanca – Moroccan exports to Spain continued their upward trajectory in 2024, recording a 9% increase compared to the previous year, according to data from Spain’s State Secretariat for Trade. This growth consolidates Morocco’s position as one of Spain’s key trading partners and highlights the resilience of bilateral trade relations.
Sustained growth in Moroccan exports
The latest figures reflect a consistent expansion in Morocco’s exports to its northern neighbor. In 2022, Moroccan exports to Spain soared by 19%, followed by a more modest 4% increase in 2023 before climbing again by 9% in 2024. This upward trend underscores the growing demand for Moroccan goods in the Spanish market.
The primary Moroccan exports to Spain include electrical equipment (30%), non-woven clothing (15%), vehicle components (12%), fish (9%), and fruits (6%). These sectors continue to drive trade between the two nations, demonstrating Morocco’s diversified export base.
Spain: A key destination for Moroccan goods
Morocco’s expanding trade volume with Spain has reinforced its status as a major supplier to the Iberian country. In 2024, Moroccan exports accounted for 2.32% of Spain’s total global imports, elevating Morocco to the 10th position among Spain’s top suppliers—up from 11th place in 2023, surpassing Turkey.
Morocco also remains Spain’s leading supplier from Africa, providing 28% of Spain’s total imports from the continent. Within North Africa, Morocco dominates with a 47% share of Spanish imports from the region. Additionally, it ranks as the 4th largest non-EU supplier to Spain, following China, the United States, and the United Kingdom.
Morocco rises among Spain’s importers
On the import side, Morocco has strengthened its role as a key market for Spanish products. In 2024, Spanish exports to Morocco increased by 5%, compared to 4% in 2023. Fuel remains a crucial import, making up 18% of Morocco’s total purchases from Spain.
The trade balance also highlights Morocco’s growing importance as a destination for Spanish goods. The Kingdom moved up two places to become the 7th largest importer of Spanish products in 2024, overtaking Belgium and the Netherlands. Furthermore, it remains the 3rd biggest non-EU importer of Spanish goods and the top African importer, absorbing 61% of Spain’s exports to Africa and 79% of its exports to North Africa.
A historic milestone in economic relations
The trade data from 2024 marks a historic milestone in Morocco-Spain economic ties. Moroccan imports from Spain accounted for 3.34% of Spain’s total global exports, a record figure that underlines the deepening economic integration between the two nations.
Beyond trade, investment relations between Morocco and Spain remain strong. Spanish investments in Morocco reached approximately $2.05 billion in 2022, creating over 27,655 jobs. These figures highlight the strategic economic partnership between the two countries, positioning Morocco as a gateway for Spanish businesses seeking to expand into Africa.
The 2030 World Cup: A driving force for bilateral growth
The strengthening of Morocco-Spain trade relations is not only driven by economic fundamentals but also by major shared projects, particularly the 2030 FIFA World Cup. As Morocco, Spain, and Portugal prepare to co-host the tournament, new investment opportunities are emerging, reinforcing collaboration in infrastructure, tourism, and trade. The World Cup is expected to accelerate economic integration between the two countries, fostering long-term growth in various sectors.
Looking ahead
With steady growth in exports and imports, Morocco and Spain continue to solidify their trade partnership. The sustained rise in Moroccan exports and Spain’s increasing reliance on Moroccan goods suggest a promising outlook for bilateral trade in the coming years. As both countries work to strengthen their economic ties, their commercial exchanges are expected to play a crucial role in regional trade dynamics.
