Morocco’s exports to Europe reached MAD 308.72 billion in 2023, while imports from Europe amounted to MAD 416.09 billion, resulting in a trade deficit of MAD 107.37 billion, according to Morocco’s Foreign Exchange Office.
The European Union remains Morocco’s main trading bloc, receiving most of Morocco’s exports. Spain stands out as the leading European market for Moroccan products, with exports totaling MAD 96.96 billion.
Morocco’s key export products include automobiles, cables, and clothing. Morocco primarily imports automotive parts, wheat, and various types of engines.
While Morocco’s trade deficit with the European Union is driven by high import levels relative to exports, there are notable surpluses with certain countries like France and the United Kingdom, according to the Exchange Office.
Morocco’s trade deficit with Asia has also increased, reaching MAD 136.8 billion in 2023, indicating a growing reliance on Asian imports, particularly from China.