Trade relations between Spain and Morocco closed 2021 establishing a new historical record in the volume of exports, with a growth of 28.7%. In a decade, sales to the Maghreb country have gone from 5,099 million euros to 9,466 million euros, representing an increase of 85.6%.
Morocco is not only Spain's main partner in Africa, but it has also become the second destination for Spanish exports outside of Europe, only surpassed by the United States. In fact, it occupies the ninth position in the index of the main receiving countries of our goods.
What does Spain export to Morocco?
The analysis of data provided by the Tax Agency places three economic sectors as leaders in exports to Morocco: energy, textiles, and automotive. Oil is the main commodity traded with this country, with operations valued at 1,417 million euros in 2021. Textile products make up the second-largest volume of exports, with 1,169 million euros; followed by automotive components, which accounted for sales worth 1,114 million euros to the Moroccan market.
10 keys to understanding the growth of exports to Morocco
1. A growing market
Morocco is placed as a region in full expansion for trade, with a market of 36.6 million people and a GDP growth of 7.4% in 2021, which positions it as the fifth economy on the continent and the third in North Africa. The forecasts for this year continue to be positive and point to growth of over 3%.
2. Economic openness
Morocco has developed a process of modernization of its economy, which has been endorsed by international organizations. The most significant sample is provided by the Doing Business (DBI) global index, prepared by the World Bank, which points out that over the last decade, it has advanced from position 114 in 2012 to 53 in 2020.
3. Trade agreements
Since Morocco's entry into the World Trade Organization in 1995 and the signing of free trade agreements, Morocco has progressively advanced its commitment to international trade, reaching an openness rate of 60%. This strategy has accelerated over the last decade, although there are still several trade barriers, which you can consult here.
4. A very close partner
Located just 14 kilometers across the Strait of Gibraltar, Morocco offers Spanish entrepreneurs the advantage of its geographical proximity, which makes this country a fast-access destination for exports.
5. Access to new markets in Africa
At the same time, its location makes this country the gateway to Africa for Spanish entrepreneurs, who see Morocco as an ideal logistics platform to access the sub-Saharan market.
6. Excellent maritime connectivity
Maritime transport concentrates more than 95% of exports to Morocco, which shows the enormous importance of this mode for the competitiveness of Spanish goods. This leadership is the result of the excellent maritime transport connectivity between both countries, as evidenced by the fact that Spain is the country with which Morocco maintains the largest number of maritime lines.
7. Logistics infrastructure
Morocco has made logistics one of its major strategic pillars, with the aspiration to play a significant role as an intercontinental logistics hub. To achieve this, it has developed an ambitious infrastructure plan, with an investment of 55 billion euros until 2035, culminating in the new TangerMed port.
8. Booming industrialization
The North African country is transforming its traditional economic model, based on agriculture and services, into a more industrialized profile, which will advance as a result of the global near-shoring process, which aims to bring production closer to Europe. This development offers the Spanish business community a source of opportunities, also in their exports, as it allows them to diversify the goods they sell with new and higher value-added traffics to meet the needs of the emerging industry.
9. The commitment to industrial acceleration zones
Morocco has reformulated its free zones, as a result of the pressures exercised by the European Commission, establishing a new regime that calls these facilities industrial acceleration zones. With this new formula, the African country maintains most of the tax benefits it offered to foreign investors.
10. Foreign investment on the rise
Foreign direct investment in Morocco exceeded 1.5 billion euros in 2020, thanks especially to France, which accounts for 36% of the total flow, and Spain, with 9%. The sectors that attract the main investments are the automotive, aerospace, and energy sectors.
Rhenus, an expert partner in transportation to Morocco
Rhenus Logistics Spain has made Morocco one of its most strategic markets in recent years. A commitment materialized in August with the acquisition of the Spanish company Aduanas Alié, which specialized in the provision of customs services with a presence in Morocco and the Maghreb, which will strengthen the company's activity in freight traffic between Spain and North Africa. “Morocco is an increasing priority destination for Spanish exporters and Rhenus will continue to support them as specialized logistics partners in this market,” says Andreu Gutiérrez, Country Sales Director Road of Rhenus Logistics in Spain. “Our strategy is to continue improving the provision of transport services to Morocco and to advance in the construction of our logistics network to remain a logistics reference for exports to Morocco,” he says.