Spain Dominates EU Exports to Morocco in 2023, Leading Trade Growth

Rabat – Spain has emerged as the top exporter from the European Union to Morocco in 2023, commanding a significant 36.8% of total exports, according to recent data from the Spanish Embassy in Rabat.

Following Spain, France secured the second position, contributing 19.1% to the EU’s total exports. Germany, Italy, and the Netherlands followed with 9.8%, 8.4%, and 4.4% respectively.

The first quarter of 2024 has shown consistent trends, with a notable 15% increase in French exports, although Spain maintains its leading position. This growth indicates a strengthening economic relationship between Morocco and the EU, particularly with its largest exporters.

As for imports, Spain has been the EU’s top importer from Morocco for a decade. In 2023, it accounted for over a third of the EU’s total imports at 37.8%, reinforcing its position as Morocco’s primary European trading partner.

France, Italy, Germany, and Belgium rounded out the top five EU importers, with shares of 29%, 8.4%, 5.9%, and 3.5% respectively.

The start of 2024 has seen a continuation of these trends, with significant increases in trade flows to Spain. In 2023, Spain and France together accounted for 67% of the EU’s imports from Morocco and 56% of its exports, illustrating the critical role these countries play in the EU-Morocco trade dynamic.

The geographical proximity and strong bilateral relations between these nations and Morocco significantly impact foreign trade patterns.

Overall, EU exports to Morocco reached €32.96 billion in 2023, marking a 4.2% increase from 2022, according to the latest Eurostat data provided by the Spanish Embassy. Conversely, EU imports from Morocco grew by 7.6% to €23.39 billion.

For the first quarter of 2024, EU exports to Morocco amounted to €8.75 billion, a modest increase of 1.25% compared to the same period in 2023.

Despite a slight dip in the trade coverage ratio from 145.5% in 2022 to 141% in 2023, the overall trade relationship between the EU and Morocco remains strong and continues to grow.