Trade between Morocco and Spain continued to expand in July, with exports from both countries to each other’s markets increasing year on year and total bilateral trade exceeding €1.98 billion during the month.
Spanish exports to Morocco reached approximately €1.159 billion, an increase of 2.8% compared with July 2025, while Spanish imports from Morocco - corresponding to Moroccan exports to the Spanish market - rose 2.5% to €816.3 million, according to Spanish foreign trade data.
The figures put Spain’s trade surplus with Morocco at €342.9 million in July, compared with €330.9 million during the same month last year. The combined value of exports and imports between the two countries consequently surpassed €1.98 billion.
Spain’s Ministry of Economy, Trade and Enterprise said its July foreign trade report was based on customs data compiled by the Secretary of State for Trade. The ministry also reported that Morocco was among the markets outside the European Union where Spain recorded a record level of exports for the month of July.
The increase in Moroccan exports to Spain was also reflected in the cumulative figures for the year.
Between January and July 2026, Spanish exports to Morocco reached approximately €7.58 billion, up 3.4% from the same period a year earlier.
Spanish imports from Morocco, meanwhile, stood at around €6.61 billion, representing an annual increase of 3.9%. The two-way trade between the countries therefore exceeded €14.19 billion during the first seven months of the year.
Spain recorded a trade surplus of approximately €967.9 million with Morocco over the same period.
The figures show that Morocco has remained an important destination for Spanish goods outside the European Union. In July, the Moroccan market accounted for approximately 3.3% of Spain’s total exports, ranking behind the United Kingdom and the United States among the destinations highlighted in Spain’s foreign trade statistics.
Morocco’s importance is even more pronounced in Spain’s trade with Africa. The North African country accounted for approximately 54.4% of Spanish exports to the continent, which were valued at around €2.13 billion in July, according to the figures reported from Spain’s foreign trade data.
The latest figures underline the scale of the economic relationship between Rabat and Madrid, which extends beyond merchandise trade to investment, manufacturing, logistics and interconnected supply chains.
The bilateral trade relationship has also continued to expand within the broader framework established by the April 2022 Morocco-Spain joint declaration, which launched a new phase of bilateral cooperation and placed economic ties among the areas targeted for further development.
