Morocco’s trade deficit increased by 3.9%, reaching 222.63 billion dirhams by the end of September 2024, compared to 214.18 billion dirhams the previous year, according to the latest data from the Foreign Exchange Office.
In its monthly report on foreign trade indicators, the office notes that this growth is driven by a 4.8% increase in imports, reaching 554.14 billion dirhams, alongside a 5.3% rise in exports, which totaled 331.51 billion dirhams. The coverage rate improved by 0.3 points to 59.8%.
In detail, the growth in imports primarily includes a rise in manufactured equipment goods by 11.5% to 128.98 billion dirhams, semi-finished products by 8.5% to 119.57 billion dirhams, consumer goods by 6.6% to 127.65 billion dirhams, and food products by 1.1% to 67.71 billion dirhams. In contrast, imports of raw materials and energy products decreased by 3.5% and 5.9%, respectively, standing at 23.93 and 85.70 billion dirhams.
Meanwhile, the aerospace sector recorded the highest growth in exports with a 20.2% increase to 19.65 billion dirhams, followed by phosphates and derivatives (+11.3% to 60.72 billion dirhams) and the automotive sector (+6.9% to 115.35 billion dirhams). Conversely, the « textiles and leather » sector saw a slight decline of 1%, amounting to 35.26 billion dirhams.
