Morocco trade deficit rises to 244.7 billion dirhams

Morocco's trade deficit widened significantly during the first seven months of 2026, reaching 244.69 billion dirhams. This represents a 26.5% increase compared to the same period in 2025, according to data from the Office des Changes.

The deficit was driven by a 15.9% rise in imports, totaling approximately 544.05 billion dirhams, which outpaced an 8.4% growth in exports (299.34 billion dirhams). Key drivers for increased imports included raw products, energy bills, and equipment. On the export side, the automotive and aviation sectors showed strong growth, rising 14.9% and 19.7% respectively, while phosphate and textile exports saw declines.

In contrast to the goods deficit, the services balance remains positive, recording a surplus of 95.48 billion dirhams, a 13.2% increase. This growth was supported by a rise in service exports and strong performance in the travel sector.

Additionally, aviation traffic at Rabat-Salé Airport saw a 16.06% increase, reaching nearly 1.45 million passengers by the end of July 2026.