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Morocco's trade deficit hits 244 billion dirhams
Data issued by the Exchange Office shows that the strength of the automotive and aviation sectors continues to bolster Moroccan exports. Vehicle exports exceeded 107 billion dirhams, representing a 14.9% increase year-on-year. Aviation exports rose by 19.7%, reaching approximately 20.5 billion dirhams. As a result, total exports increased to 299.34 billion dirhams, up by 8.4%. However, the growth rate of imports, which reached 15.9% at 544 billion dirhams, outpaced exports, leading to a trade deficit of 244.69 billion dirhams—a 26.5% increase. This reflects a decline in the import coverage ratio to 55%. On the other hand, transfers by Moroccans abroad increased by 8.1%, and the surplus in the services balance grew to 95.5 billion dirhams. Nonetheless, heavy imports of oil and raw materials continue to exert pressure on the balance of payments.
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