Morocco’s trade balance with Africa remained in surplus in 2024, standing at MAD 7.2 billion dirhams, compared to MAD 12.6 billion the previous year, according to the Exchange Office.
The worsening trade deficit with Egypt of MAD 3 billion, combined with the decline in trade surpluses with Côte d’Ivoire of MAD 1.5 billion and Djibouti of MAD 1.3 billion, are the main sources of deterioration in the trade balance, the Office said in its annual report on Morocco’s foreign trade.
The trade surplus with Oceania improved to MAD 3.8 billion in 2024, compared to MAD 2 billion, following a more than doubling of the surplus with Australia.
Furthermore, the report notes a worsening of the trade deficit with Asia of MAD 15.7 billion to MAD 152.5 billion in 2024, mainly due to the trade deficit with China, which widened by MAD 13.8 billion.
Imports from China increased by MAD 14.2 billion, while exports rose by MAD 448 million.
With America, the trade balance shows a worsening trade deficit of MAD 4.9 billion to MAD 66.5 billion in 2024. This deficit is mainly due to the widening of the trade deficit with the United States by MAD 9.4 billion in 2024, following an increase in imports of MAD 10.5 billion.
As for the trade balance with Europe, it has improved but remains in deficit at MAD 103.2 billion in 2024. The trade surplus with France increased by MAD 4 billion.
The balance with Lithuania went from a deficit of MAD 3.2 billion in 2023 to a surplus of MAD 82 million in 2024.
The trade deficit with Russia decreased by MAD 2.9 billion, while that with Spain worsened by MAD 2.9 billion.
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