Rabat – Spanish exports to Morocco grew by 16.3 percent between January and August 2017 compared to the same period in the previous year, according to the latest figures from the Spanish Institute of Foreign Trade (ICEX) report for 2017.
The Spanish institute said that the increase in exports to Morocco were some of the most important Spanish outflowsfor the first eight months of the current year, alongside exports to Argentina which rose by 28.7 percent, China by 24.9 percent, and Australia by 23.3 percent.
In August alone, exports from Spain to Morocco were up 21.3 percent compared to the same month last year.
The total value of Spanish exports increased by 9.1 percent from January to August to reach EUR 182.3 billion, marking a historic record.
Imports from Morocco also increased by 11.6 percent over the same period to EUR 198.71 billion, setting yet another historical record.
The figures show the close trade ties between Morocco and Spain, which grew six-fold between 2010 and 2016, amounting to EUR 12.6 billion and representing 10 percent of Morocco’s GDP.
During the same period, Morocco’s imports from Spain increased from EUR 3.41 to 6.93 billion.
