Spain Remains Morocco’s Major Trading Partner in 2019 First Quarter

Spain remained Morocco’s major trading partner in the first quarter of 2019, both in terms of exports and imports, according to data published by the Statistical Office of the European Union (Eurostat).

In 2018, Spain remained Morocco’s leading trading partner for the seventh consecutive year.

The value of Spanish exports to Morocco amounted to €2,091 million at the end of March, down 1.28% compared to the same period of the previous year, the same source points out, noting that the Kingdom was, during this period, the 8th largest destination worldwide for Spanish goods and the second largest country outside the European Union.

Spain maintained its position as Morocco’s leading supplier, accounting for 33.5% of total European exports to the Kingdom in the first quarter of 2019, ahead of France (21.6%), Germany (8.9%), Italy (8.0%) and the Netherlands (5.1%).

The value of imports of Moroccan products by Spain reached 1,841 million euros in the first quarter of the current year, posting an increase of 7.95% year-on-year.

Spain was also Morocco’s largest customer in the first three months of 2019, accounting for 41.1% of total EU imports of Moroccan origin, i.e. 7.7% more than a year earlier, followed by France (29.3%), Italy (6.1%), Germany (6.1%) and the United Kingdom (4.7%).

According to Eurostat, EU exports to Morocco increased by 4.55% year-on-year at the end of March. The Kingdom has become the 38th largest customer of the EU worldwide, while its share of total European exports rose from 0.4% in 2018 to 0.5% in the first quarter of 2019.

EU imports from Morocco increased by 6.4% between January and March, making the Kingdom the 47th largest supplier to the Union, the same source notes.

Subscribe to our newsletter
Sign up here to get the latest news, updates and special offers delivered directly to your inbox.
You can unsubscribe at any time

Comments are closed.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More