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Spain Remains Morocco’s Top Foreign Trade Partner

Spain remained Morocco’s top economic partner in 2019, accounting for 28.4% of the country’s total foreign trade with the European Union (EU). This is equivalent to MAD 144.4 billion ($14.89 billion), according to the Exchange Office’s 2019 annual foreign trade report.

European countries collectively accounted for 65.8% of Morocco’s total foreign trade carried in 2019, estimated at MAD 508.6 billion ($52.46 billion).

With MAD 120.9 billion ($12.47 billion) in 2019 investments, France accounted for 36.12% of Morocco’s total foreign trade. This made France the second economic partner for the North African country.

The two neighboring countries combined accounted for 52.2% of Morocco’s trade with Europe.

This shows an improvement in the trade deficit with Europe, with MAD 107.8 billion ($11.11 billion) in 2019 compared to MAD 116 billion ($11.96 billion) in 2018.

Source : https://www.moroccoworldnews.com/2020/06/307225/spain-france-remain-moroccos-top-foreign-trade-partners/