Meknes, Morocco – The European Union and Morocco have achieved a record €60 billion in bilateral trade in 2024, with a significant contribution from the robust agricultural sector. This milestone was announced by the European Union delegation to Morocco at the International Agricultural Show in Morocco (SIAM), currently underway under the High Patronage of King Mohammed VI. The record trade volume underscores the EU’s pivotal role in the Moroccan economy and the increasing economic interdependence between the two partners.
The updated bilateral trade figures unveiled at the 17th edition of SIAM confirm the strategic importance of the Euro-Moroccan partnership, which is built upon growing commercial ties.
In 2024, the total trade in goods between the EU and Morocco reached an unprecedented €60 billion, with agricultural products alone accounting for a substantial €7 billion of this figure.
According to an official report, this overall trade volume represents a significant increase of 7 percent compared to 2023 and a remarkable 53 percent increase compared to pre-Covid levels, highlighting the strong growth trajectory of the economic relationship. The EU thus solidifies its position as Morocco’s leading economic partner, representing approximately half of Morocco’s total imports and nearly two-thirds of its total exports. Furthermore, the EU remains the primary source of foreign direct investment into the Kingdom.
Within this strong overall trade performance, the agricultural sector has experienced particularly sustained growth. Moroccan agricultural exports to the EU reached an impressive €3.4 billion in 2024, marking a threefold increase since 2012, demonstrating the increasing competitiveness and appeal of Moroccan agricultural products in the European market. Notably, tomatoes alone accounted for nearly 29 percent of these agricultural export flows, with an estimated value of €1 billion in 2024. In terms of volume, Moroccan tomato shipments to the EU increased by 18 percent to reach 581,000 tonnes in the same year.
Conversely, Morocco imported €3.6 billion worth of agricultural products from the EU in 2024. Wheat constituted the largest component of these imports, valued at €785 million. Despite this significant value, wheat import volumes from the EU saw a decline of 19 percent compared to 2023. Nevertheless, the EU still covered nearly 60 percent of Morocco’s total wheat needs in the past year, highlighting its continued importance as a key supplier.
The ongoing SIAM has also provided an important platform for Moroccan authorities to highlight the significant improvements in the country’s agricultural conditions. Thanks to substantial rainfall experienced in March and April, national cereal production is currently estimated at 44 million quintals, representing a significant increase of 41 percent, which is expected to positively impact Morocco’s agricultural trade balance in the future.
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