Economic cooperation
Morocco and Britain have been trading partners for centuries and the two countries are rediscovering each other: the two respective business communities are improving, every day, their mutual understanding. In fact, trade between the two countries has increased threefold during the past decade and the UK is one of Morocco’s main economic partners.
Over the last ten years, trade between the Kingdom of Morocco and the United Kingdom has increased threefold from 1996 to 2006 and passed 1 billion pounds during 2008. The world crisis has resulted in a decrease in trade between the two nations during 2009 but signs of recovery are perceived for 2010.
Exports (into the UK): Clothing; Phosphoric acid; Fertilisers and Chemicals; agro-food ; fish and seafood products, automotive components...
Imports : Fabrics (synthetic and artificial fibers, Cotton yard, wool fabrics,) ; machineries ; Hydrocarbons ; Radio transmitters ; disinfectants ; plastic products ; tractors ; paper and cartons ; medicines, vehicles, etc.
NB: figures below for year 2009 are not final if available.
Morocco-UK bilateral trade in figures (2001-2009; in Millions of MAD)
|
2001 |
2002 |
2003 |
2004 |
2005 |
2006 |
2007 |
2008 |
2009 |
Exports |
6647, 3 |
6 834,0 |
6 109,9 |
6 597,8 |
5 857 |
6 637 |
6 388,3 |
5 349,6 |
3 672, 0 |
Imports |
6794, 6 |
6 415,3 |
5 355,8 |
5 181,1 |
4 126 |
4 304 |
7 108,9 |
9 035,0 |
5 123, 0 |
Total |
13441, 9 |
13 249,3 |
11 465,7 |
11 778,9 |
10 941 |
10 941 |
13 497,2 |
14 384,6 |
8 795, 0 |
Balance |
-147, 3 |
418,7 |
754,1 |
1 416,7 |
1 773 |
2335 |
-720,6 |
-3 686,4 |
-1 451, 0 |
% |
97,8% |
106,5% |
114% |
127,3% |
143,4% |
154 % |
89,9% |
59,2% |
71,5% |
Source : Ministry of Foreign Trade - Morocco
British Investment in Morocco (Period 2001-2009 in Millions of Dirhams)
Most investments from the UK come into Real estate, Tourism and Textiles.
|
2001 |
2002 |
2003 |
2004 |
2005 |
2006 |
2007 |
2008 |
2009 |
GB Direct Investment |
286,56 |
356,0 |
244,4 |
454,9 |
451,6 |
905.8 |
2576,3 |
1214 |
1037,1 |
GB Inv+FPL |
320,50 |
401,9 |
279,7 |
505,1 |
464,0 |
916,9 |
2603,3 |
1698,0 |
1170,3 |
% |
0,97 |
5,90 |
1,2 |
4,7 |
1.6 |
3.5 |
6,3 |
5,2 |
20,33 |
Source: Office des Changes ( Moroccan Exchange Authority)
(IFPL = Investements and Foreign Private Loans)
Tourism receipts from UK (Period 2000-2008; in Millions of MAD)
|
2000 |
2001 |
2002 |
2003 |
2004 |
2005 |
2006 |
2007 |
2008 |
British Tourists receipts |
1154,30 |
1157,7 |
1487,10 |
1857,00 |
1606,70 |
2426,8 |
3149,1 |
4659,4 |
3517,9 |
Part in total |
5,3% |
4,0% |
5,1% |
6,0% |
6,0% |
5,9% |
6,1% |
7,9% |
6,3 % |
Source : Office des Changes (Moroccan exchange Authority)
- Remittances from the UK (période 2001-2009 ; in Millions DH)
|
2001 |
2002 |
2003 |
2004 |
2005 |
2006 |
2007 |
2008 |
2009 |
MR- UK |
1595,9 |
1292,7 |
1650,4 |
1669,7 |
1743 |
1650,4 |
2112,2 |
1981,8 |
1726,5 |
TRE |
36858 |
31708 |
34582 |
37423 |
40738 |
47858 |
5000,7 |
53072,4 |
50224,1 |
% |
4,33 |
4,08 |
4,8 |
4,4 |
4,3 |
3,4 |
3,8 |
3,7 |
3,4 |
MR-UK = Transfers by Moroccan residents in the UK.
TRE = Total Remittances to Morocco.
