Morocco’s deficit in trade balance with Spain widening

Rabat – July 12, 2013 (MAP)

Morocco’s deficit in its trade balance with Spain has widened by close to 178.4 pc between 2011 and 2012 (respectively 7.3 billion dirhams and 20.3 billion DH).

The department of foreign trade says the two countries recorded a 14 pc progression in their trade, from 71.22 billion DH in 2011 to 81.40 billion DH in 2012, as a result of an increase in Moroccan imports.

Moroccan imports from Spain grew by 30pc (from 39.26 billion DH in 2011 to 50.87 billion DH in 2012) while exports declined by 4pc (from 31 billion DH in 2011 to 30.5 billion DH in 2012).

In 2012, Spain was Morocco’s second most important client, after France, and first supplier. It accounted for 14pc of Morocco’s global foreign trade (16.5pc of exports and 13pc of imports) and for 28.7pc of Morocco’s trade with the European Union.

Meanwhile, in 2011, Morocco held the 19th rank in terms of Spain’s foreign trade (with 1.1 pc of Spain’s imports and 1.9 pc of exports).