Morocco's trade deficit rises to 244B dirhams

The FTZ office report shows that the Kingdom of Morocco recorded a trade deficit of 244.69 billion dirhams during the first seven months of 2026, representing an increase of 26.5% compared to the same period last year. The figures indicate that imports rose by 15.9% to reach 544.045 billion dirhams, while exports amounted to only 299.34 billion dirhams, leading to a widening gap and reducing the import coverage rate by exports to 55%, less than half the value of imports. This suggests that imports are growing faster than exports, putting pressure on the external trade balance and raising questions about the capacity of productive and export sectors to keep up with the increasing demand for imported goods. The numbers highlight that addressing this imbalance will require time and efforts to boost exports and reduce dependency on imports.

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