Europe remains Morocco’s top trade partner despite slight decline

Thursday 24 July 2025 - 11:15

Europe continued to dominate Morocco’s foreign trade in 2024, accounting for 62% of total trade volume, down slightly from 63.2% in 2023, according to the latest annual report by the Moroccan Office of Exchange.

European countries provided 56.4% of Morocco’s imports and received 71.4% of its exports. Within Europe, the European Union remains the most significant trading bloc, representing 86.6% of all trade conducted with the continent.

Spain remained Morocco’s top European trade partner, accounting for 29.1% of bilateral trade, followed by France (21%), Germany (8.4%), Italy (7.7%), and Turkey (6.7%).

Trade with Asia also grew substantially, rising by 12.7% in 2024 after a decline of 15.8% the previous year. Asia’s share in Morocco’s total trade increased from 18.9% in 2023 to 20.1% in 2024. This growth is largely due to Morocco’s strengthening commercial ties with China, which has seen continuous expansion for the thirteenth consecutive year (+18.4% in 2024). Kazakhstan and India also contributed significantly to the rise, with trade values increasing by 4.6 billion and 3 billion dirhams respectively.

As for trade with the Americas, it registered a 6.1% increase, primarily driven by a 15.8% rise in exchanges with the United States. However, this growth was partially offset by sharp declines in trade with Colombia (-77.2%) and Trinidad and Tobago (-42.9%).

In Africa, Morocco’s trade rose by 6.3%, sustained mostly by a 34.7% increase in trade with Egypt, which retained its status as Morocco’s top African trade partner for the sixth year in a row.

Though still limited to 0.5% of total trade, exchanges with Oceania grew at an accelerated pace, increasing by 48.1% in 2024. This improvement is primarily due to higher trade volumes with Australia (+2.2 billion dirhams), slightly offset by a drop in trade with New Zealand (-400 million dirhams).