Morocco’s trade deficit reached 71.63 billion dirhams (MMDH) at the end of March 2025, an aggravation of 16.9 % compared to the same period of the previous year, according to the latest figures published by the Exchange Office.
This degradation is explained by an increase in imports of goods, which increased by 6.9 % to set up at 187.7 MMDH, while exports only increased by 1.5 %, reaching 116.07 MMDH. The rate of import coverage by exports was thus contracted from 3.3 points, to 61.8 %.
The Exchange Office specifies that the increase in imports affects all product groups. Gross products display a sharp increase of 27.6 % (9.36 MMDH), followed by food products (+9.4 % to 23.94 MMDH), finished consumption products (+8.7 % to 43.59 mmdh), equipment (+6.1 % to 43.04 MMDH), half-products (+4.3 % to 39.17 MMDH) and products energy (+0.5 % to 28.22 MMDH).
On the export side, the progression is carried by several key sectors. Sales of phosphates and derivatives increased by 18.2 %, totaling 20.3 MMDH. Other notable increases are recorded in the segments of other mining extractions (+20.2 % to 1.38 MMDH), other industries (+16.8 % to 7.52 MMDH), aeronautics (+15 % to 7.03 MMDH) and agriculture and agrifood (+0.8 % to 26.74 MMDH).
Conversely, several exporting sectors have seen their performance fall. This is the case of electronics and electricity, down 11.6 % (4.21 MMDH), automobile (-7.8 % to 37.36 MMDH) and textiles and leather (-1.4 % to 11.51 MMDH).
