Portugal’s exports to Morocco top €1 billion, but fall 10% in 2025
Morocco remains a market worth more than €1 billion for Portuguese companies. But after two years of strong growth, their sales to the kingdom fell by 10% in 2025, knocking Morocco out of their top 10 customer markets.
Portuguese companies sold €1.107 billion worth of goods and services to Morocco in 2025, down from €1.225 billion a year earlier. The decline amounted to 10%, according to data compiled by the Portuguese Office of Planning and Policies (GPP).
On Bladi.net : Europe now buys €25.5 billion from Morocco, and agriculture is no longer dominant
The decline was the same for goods alone. Portuguese exports to Morocco fell from €1.176 billion in 2024 to €1.058 billion in 2025. They nevertheless remain well above the €868 million recorded in 2021.
In 2024, this growth had made Morocco Portugal’s tenth-largest customer for goods for the first time, accounting for around 1.5% of its exports. It held that position for just one year.
Angola takes back tenth place
Preliminary data from Portugal’s National Statistics Institute show that the 2025 decline pushed Morocco out of the top 10. Angola regained tenth place, according to AICEP Portugal Global.
Portugal still sells far more to Morocco than it buys from the country. Its imports of Moroccan goods and services reached €623 million in 2025, leaving Lisbon with a trade surplus of €484 million.
For goods alone, Portuguese companies exported €1.058 billion to the kingdom and imported €534 million worth of Moroccan products. Portuguese sales were therefore almost twice the value of their purchases.
The 2025 decline thus wipes out part of the surge seen over the previous two years, without bringing trade back to its former level. Portuguese exports of goods and services to Morocco rose from €691 million in 2022 to €1.039 billion in 2023, then to €1.225 billion in 2024. Despite falling to €1.107 billion in 2025, they remain 60% higher than in 2022.
