Trade between Morocco and the UK hits 53.6 billion dirhams, marking 11% growth

Trade in goods and services between Morocco and the UK reached approximately 53.6 billion Moroccan dirhams (over 5 billion USD) in the 12 months to June, marking an 11% increase compared to the previous period, or an additional 4.1 billion dirhams (476 million USD).

In response to a question from Olivia Hamilton, a Labour MP, the UK Department for Business and Trade outlined several initiatives aimed at further boosting this trade. British businesses can access support through the “Great.gov.uk” website, business support services, local growth hubs, and growth assistance programs.

The UK’s trade promotion strategy includes sending delegations to Morocco to connect British and Moroccan entrepreneurs, focusing on sectors such as railways and airports, especially in preparation for the 2030 World Cup.

Small businesses are included in these delegations. Last month, a trade delegation of 12 British companies visited Morocco, welcomed by the British Embassy in Rabat.

UK Ambassador Simon Martin emphasized the UK’s strong commitment to investment in Morocco, particularly for infrastructure projects linked to the World Cup, and noted that Morocco could benefit from British expertise in rail and airport development.

According to UK government data, total trade between the two countries stood at approximately 47.4 billion dirhams by the end of Q2 2023.

British exports to Morocco reached about 17.3 billion dirhams, while imports from Morocco amounted to 26.5 billion dirhams, reflecting a 22% increase compared to the same period last year.

Morocco ranks 52nd among the UK’s global trading partners, accounting for 0.2% of total UK trade. In 2022, UK foreign direct investment in Morocco totaled around 212 million dirhams, a significant 300% increase from 2021.

Since the UK’s exit from the EU and the implementation of the comprehensive partnership agreement with Morocco in January 2021, trade relations have significantly advanced. Former UK Prime Minister Rishi Sunak even appointed a trade envoy to strengthen ties, with the UK keen to secure a share in Morocco’s growing infrastructure projects.