Moroccan - Spanish trade flows show steady increase

Moroccan-Spanish trade flows witness a steady growth as the global volume of exchanges reached 290 billion pesetas in 1999 against 252 billion in 1998.

A report of the Moroccan BMCE Bank international in Spain, showed a balance in favor of Spain as Spanish exports to Morocco amounted to 175 billion pesetas in 1999 against 142 billion in 1998 while imports from Morocco reached 115 billion pesetas, a 15% increase % compared to 1995.

Morocco remains on the top of the countries of the Arab Maghreb in terms of imports of Spanish products soaking 48% followed by Algeria (32%) and Tunisia (19%).

Regarding investments, the study reveals that Morocco remains one of the main destinations of Spanish capital abroad with the completion of the swapping of Moroccan debts into investments.