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Morocco has recently compiled 524 proposals for a foreign trade roadmap for 2025-2026, aiming to diversify and strengthen its export market. According to the Office des Changes, the regulatory authority for foreign exchange in Morocco, its latest bulletin reveals a 13.3% increase in the trade deficit as of January 2025.
By the end of January this year, Morocco’s commercial deficit reached USD 2.49 billion, marking a 13.3% rise compared to the previous year. This increase is largely due to imports totalling USD 6.09 billion, which rose by 3.4%, while exports fell to USD 3.59 billion, reflecting a 2.4% decline. The coverage ratio, which indicates how much export earnings can cover imports, dropped to 59.1%, a decrease of 3.5 points.
The rise in imports is attributed to higher prices across various goods categories. Notable increases include raw materials, which rose by 17.8% to MAD 2.96 billion, manufacturing equipment by 10.8% to USD 1.44 billion, consumer products by 6.4% to USD 1.3 billion, food products by 3.1% to USD 835.54 million, and semi-finished products by 1.7% to USD 1.32 billion.
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Exports have been primarily supported by the aerospace sector, which experienced a 14.2% increase, reaching around USD 226.95 million. Additionally, leather and textile exports grew by 5% to USD 381.64 million, while other mining extractions surged by 21.2% to USD 41.52 billion.
