Morocco-Spain trade surpasses €14 billion in seven months despite migration tensions

Yesterday 20:30

By: Azzat Manal

Morocco-Spain trade surpasses €14 billion in seven months despite migration tensions

Trade between Morocco and Spain continued to expand during the first seven months of 2026, with the combined value of merchandise exchanges exceeding €14.19 billion. The increase came despite renewed tensions surrounding migration and the border situation, underlining the depth of the economic links between the two neighbouring countries.

According to Spanish foreign trade data, Spanish exports to Morocco reached approximately €7.58 billion between January and July, representing an annual increase of 3.4%. Spanish imports from Morocco rose by 3.9% to around €6.61 billion over the same period. Spain consequently recorded a trade surplus of approximately €967.9 million.

The July figures were particularly notable. Spanish exports to Morocco amounted to about €1.159 billion, up 2.8% compared with July 2025, while imports from Morocco reached €816.3 million, an annual increase of 2.5%. Total two-way trade therefore approached €1.98 billion during the month.

Spain's foreign trade authorities also reported that Morocco was among the non-European Union destinations where Spanish exports reached a record level for July. The Moroccan market represented around 3.3% of Spain's total exports during the month, placing it among the country's most important destinations outside the European Union.

Morocco's importance is particularly visible in Spain's commercial relationship with Africa. Spanish exports to the African continent reached approximately €2.13 billion in July, with Morocco accounting for about 54.4% of that total. This illustrates the role of the Moroccan market as a major destination for Spanish goods in the region.

The latest figures come against a backdrop of sensitive developments in the migration relationship between the two countries, particularly around Ceuta. Nevertheless, the available trade statistics show continued year-on-year growth in both directions during the period covered. The figures themselves do not establish a direct causal relationship between migration developments and trade performance.

The resilience of commercial exchanges reflects the broader economic interdependence that has developed between Morocco and Spain. Bilateral economic relations extend across manufacturing, automotive industries, electrical equipment, food products, logistics and supply chains linking companies on both sides of the Strait of Gibraltar.

The relationship also benefits from the geographical proximity of the two countries. Morocco's position as a gateway between Europe and Africa, combined with Spain's role within the European market, has encouraged companies to develop cross-border production and distribution networks.

The April 2022 Morocco-Spain joint declaration marked an important stage in the restructuring of bilateral relations, with both governments identifying trade, investment, migration and security as areas for closer cooperation. Economic exchanges have remained an important component of this broader relationship.

The latest trade data also place Morocco among Spain's most significant commercial partners outside the European Union. Spanish government statistics show that exports to Morocco formed part of the record performance of Spain's external trade in July, when total Spanish merchandise exports reached €35.45 billion, their highest level for that month.

For Moroccan exporters, the Spanish market remains strategically important because of its proximity and access to wider European supply chains. For Spanish companies, Morocco provides a nearby market as well as an industrial and logistics platform connected to both European and African markets.

The continued expansion of trade during the first seven months of 2026 therefore highlights the economic dimension of Morocco-Spain relations, even as the two countries continue to manage sensitive issues in areas such as migration and border cooperation. With bilateral merchandise trade already above €14 billion by the end of July, commercial ties remain a significant component of the relationship between Rabat and Madrid.