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Spain Morocco first trading partner in 2016

Spain Morocco first trading partner in 2016

MADRID: Spain remained Morocco’s top trading partner in 2016 with trade turnover totaling $10.6 billion up from $9.3 billion in 2015, Morocco’s foreign exchange regulatory authority, L’Office des Changes said. Between 2015 and 2016, Morocco’s imports from Spain rose from $4.4 billion to $6.2 billion, while its exports to the country jumped from $4.2 billion to $5.1 billion. Morocco is the 51st largest export economy in the world. In 2016, Morocco exported $22.6 billion and imported $41.5 billion, resulting in a negative trade balance of $18.9B. In 2016 the GDP of Morocco was $101B and its GDP per capita was $7840.

Morocco’s top exports consist of cars ($2.95 billion), insulated wire ($2.46billion), mixed mineral or chemical fertilizers ($1.83 billion), phosphoric acid ($1.14 billion) and non-knit women’s suits ($1 billion). Its top imports are refined petroleum ($3.43 billion), cars ($1.98 billion), wheat ($1.3 billion), petroleum gas ($1.13billion) and insulated wire ($1.11billion).