Morocco, Spain trade estimated at US $1.89 billion in half 2004

Morocco and Spain two-way trade has reached 17.06 billion Dhs (around US $1.89 billion) in the first half of 2004, compared to 31.84 billion Dhs (around US $3.53 billion) in the whole year of 2003, the Exchange Office said.

Moroccan exports to Spain totalled 7.59 billion Dhs (around US $843 million), while imports amounted to 9.47 billion Dhs (around US $1.05 billion). Spain enjoyed a surplus of 1.88 billion Dhs (around US $208 million).

The north African country's main exports consisted of clothing with 2.37 billion Dhs (around US $263 million), crustacean, mollusc and shells with 785,4 million Dhs (around US 87.2 million) and hosiery articles with 746 million Dhs (around US $82.8 million). Imports chiefly consisted of cotton fabrics and chemical products.

As for the transfer of funds from Moroccan expatriates in Spain, it was estimated at 1.85 billion Dhs (US $205 million) in the first half of 2004, while Spanish investments in the country during the same period reached over 204 million Dhs (around US $22.6 million), according to statistics of the Exchange Office.