Trade between the United Kingdom and Morocco increased by 10.9% over the year ending in the second quarter of 2024, reaching 48.5 billion dirhams (£3.8 billion), according to the UK Department for Business and Trade.
Despite the overall growth, trade flows showed mixed results. UK exports to Morocco fell 4.1% to 17.9 billion dirhams (£1.4 billion), while imports from Morocco surged 22%, reaching 30.6 billion dirhams (£2.4 billion). The shift widened the UK’s trade deficit with Morocco to 12.8 billion dirhams (£1 billion).
Goods accounted for the majority of the trade, representing 69.1% of UK exports and 62.9% of Moroccan imports. Key UK exports included refined petroleum (3.98 billion dirhams), cars (1.21 billion dirhams), and metal ores (938 million dirhams). Morocco’s leading exports to the UK were fruits and vegetables (6.43 billion dirhams), electrical equipment (4.79 billion dirhams), and cars (2.1 billion dirhams).
The services sector saw notable growth, with UK imports of Moroccan services rising 32.4% to 11.55 billion dirhams (£903 million). Travel services made up 83.5% of Morocco’s service exports to the UK.
Growing Trade Partnership
Morocco is now the UK’s 52nd largest trading partner globally, according to official statistics. Bilateral trade has grown steadily since 2021, increasing from 26.9 billion dirhams (£2.1 billion) to 42.3 billion dirhams in 2022 and 47.2 billion dirhams in 2023.
In 2024, Morocco ranked as the UK’s 45th largest supplier of goods, representing 0.3% of Britain’s total imports, and its 44th largest export market. However, UK goods exports to Morocco declined by 6.9% year-on-year through October 2024, while Moroccan goods imports rose 11.7%.
This trade relationship, marked by steady growth and diversification, highlights Morocco’s increasing importance to the UK’s foreign trade strategy amid global economic shifts.
The post UK-Morocco trade grows, highlighting strategic partnership appeared first on HESPRESS English – Morocco News.
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