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Total trade between the UK and Morocco, including exports and imports, amounted to $3.6 billion between the end of the third quarter of 2021 and the same period in 2022.
A factsheet from the UK government shows that total trade between the two countries increased by 53.3% or $1.14 billion “from the four quarters to the end of Q3 2021.”
The UK’s exports to Morocco totaled £1.2 billion in “the four quarters to the end of Q3 2022,” the data added, stressing that this represents a 49% increase compared to the “four quarters to the end of Q2021.
Meanwhile, total UK imports from Morocco reached £1.7 billion in the “four quarters to the end of Q3 2022.”
The number represents an increase of 56.5% or £611 million “compared to the four quarters to the end of Q3 2021,” according to the UK government.
These recent statistics from April 20 positioned Morocco as the UK’s 56th largest trading partner in 2022, accounting for 0.2% of total UK trade.
The data reflects the UK and Morocco’s determination to continue to boost cooperation in all sectors, including trade.
London and Rabat share good diplomatic ties marked by intense dialogue and visit exchanges between British and Moroccan officials.
Last year in May, British Ambassador to Morocco Simon Martin recalled the importance of bilateral relations between the two countries.
Ambassador Martin said the two countries have complementary economies presenting unexplored opportunities.
“They cover several sectors such as agriculture, renewable energies, manufacturing, and education,” he said, recalling that Morocco and the UK just celebrated the 300th anniversary of the first diplomatic treaty signed between Morocco and the UK in 1721.
In addition to trade, the UK and Morocco are now working on a milestone project, seeking to connect the two countries through an undersea cable project that intends to bring Moroccan green energy to the British isles.
Xlinks, a UK-based clean energy company, plans to build the 3,800-kilometer cable connecting the two countries.
Read Also: Octopus Energy, TAQA Invest £30 million in Morocco-UK Xlinks Power Project
