According to the Office des Changes, Morocco’s trade deficit reached 24.48 billion dirhams by the end of January 2025, marking an increase of 13.3% compared to the same period the previous year.
In its monthly bulletin on foreign trade indicators, the Office explained that this development reflects a 3.4% rise in imports, reaching 59.84 billion dirhams, while exports declined by 2.4% to 35.35 billion dirhams. The coverage ratio also dropped by 3.5 points to 59.1%.
The increase in imports is attributed to the rise in most product categories, including raw materials, which grew by 17.8% to 2.96 billion dirhams, manufactured equipment products by 10.8% to 14.15 billion dirhams, manufactured consumer goods by 6.4% to 12.83 billion dirhams, food products by 3.1% to 8.21 billion dirhams, and semi-finished products by 1.7% to 13.03 billion dirhams.
On the other hand, exports were primarily supported by the performance of the aerospace sector, which rose by 14.2% to approximately 2.23 billion dirhams, the textile and leather sector by 5% to 3.75 billion dirhams, and other mining extractions, which saw a 21.2% increase to 408 million dirhams.
These figures highlight the challenges facing Morocco’s trade balance, particularly amid rising import costs and weak performance in some export sectors, underscoring the need to enhance efforts to improve the competitiveness of the national economy.