Morocco’s trade deficit reached 306.47 billion dirhams in 2024, marking a 7.3% increase compared to the previous year, according to the Foreign Exchange Office.
This development reflects a 6.4% increase in goods imports (reaching 761.45 billion dirhams) and a 5.8% rise in exports (454.97 billion dirhams), the office pointed out in its latest monthly bulletin on foreign trade indicators.
According to the same source, the trade coverage ratio declined by 0.4% settling at 59.8%.
The increase in imports is attributed to the rise in most product categories, including Capital goods (+12.9%), Consumer goods (+10.7%), Semi-finished products (+8%), Raw materials (+4.3%), Food products (+2.2%).
Regarding exports, the growth was mainly driven by Aerospace (+14.9%), Phosphates and derivatives (+13.1%), Automotive industry (+6.3%), Agriculture and agri-food sector (+3.1%).
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