Spanish exports to Morocco reached record levels last year, according to figures released this week by the Ministry for the Economy and Competitiveness in Madrid.
The strong growth helped Spain nudge France out of the top slot as Morocco’s principal trade partner.
Spanish companies exported goods worth E5.3 billion, an increase of 29% over the previous record in 2011.
According to the ministry’s commerce secretariat, a total of 18,839 Spanish companies did business with Morocco during the course of 2012.
The North African country was Spain’s ninth most important export destination and accounted for 2.4% of all Spanish exports. With EU countries removed from that equation, Morocco came second only to the US.
The exports to Morocco included commodities ranging from fuels and lubricants to automobiles, steel products, machinery components and raw textiles.
The growth in Spanish trade with Morocco comes as the EU negotiates a new free-trade deal as part of a wider push that aims to deepen trade and culural ties with North African countries.
The Gibraltar Government has identified Morocco as an important market for Gibraltar and has already conducted visits there in a bid to build links with the business community and attract investment.
