Morocco’s trade deficit widened by 6.5%, reaching MAD 275.74 billion by the end of November 2024, compared to MAD 258.83 billion a year earlier, according to the Exchange Office.
This performance reflects a 5.7% increase in goods imports, which amounted to MAD 689.16 billion, and a 5.2% rise in exports, reaching MAD 413.41 billion. The coverage rate remained nearly stable at 60%, the Rabat-based institution noted in its recent bulletin on monthly foreign trade indicators.
The rise in imports was driven by increases in various categories: finished equipment goods (+12.1% to MAD 162.73 billion), finished consumer goods (+8.8% to MAD 159.55 billion), semi-finished goods (+7.9% to MAD 149.05 billion), and food products (+1.8% to MAD 82.60 billion). Meanwhile, energy product imports declined by 5.9%, totaling MAD 104.38 billion.
On the export side, the aeronautics sector recorded a significant increase of 16.9%, reaching MAD 24.21 billion, ahead of phosphates and derivatives (+9.1% to MAD 75.23 billion), the automobile sector (+6.7% to MAD 145.93 billion), agriculture and agri-food (+3.1% to MAD 77.91 billion), and electronics and electricity (+2.5% to MAD 16.61 billion).
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