Morocco keeps close trade ties with EU amid partner diversification
Xinhua, June 22, 2015 Adjust font size:
Around 63.5 percent of Morocco's trade concentrated on Europe in 2014 with a trading volume of 38.7 billion U.S. dollars, an official report stated on Sunday.
According to figures released by Morocco's foreign exchange regulator, the kingdom imported European products worth 24.63 billion dollars in 2014 (61.3 percent of the kingdom's total imports), while Morocco's exports to European countries during the same period amounted to 14.04 billion dollars (67.6 percent of its exports).
The European Union (EU), Morocco's first economic partner in the continent, exported products worth 20.5 billion dollars to the kingdom in 2014, which represents an increase of 2.5 percent compared to 2013.
During the same period, Morocco's exports to EU increased by 12.5 percent, reaching 13.17 billion dollars.
Asia came behind Europe with 18 percent of trade exchange with Morocco, followed by Americas (10.9 percent), and Africa (6.4 percent).
Neighbouring Spain continued to be Morocco's biggest trade partner, slightly before France, as the United States and China came third and fourth respectively.
Among the top ten trade partners of Morocco, there exists Italy, Germany, Saudi Arabia, Turkey, Russia and Brazil. Endit