Morocco trade deficit rises to 282.6 billion dirhams

Morocco's trade deficit reached 282.615 billion dirhams during the first eight months of 2026, according to data from the Office des Changes. This represents a 25.4 percent increase compared to the same period in the previous year.

The widening deficit is driven by a 15.8 percent rise in goods imports, totaling 617.508 billion dirhams, which outpaced an 8.7 percent growth in exports, which reached 334.892 billion dirhams. Consequently, the coverage ratio declined by 3.5 points to 54.2 percent.

Key drivers of increased imports include energy bills (up 32.6 percent), raw materials (up 63.3 percent), and semi-finished products. On the export side, growth was primarily supported by the automotive (up 14.5 percent), aeronautics (up 21.5 percent), and agriculture/agrifood (up 8.3 percent) sectors. However, exports of electronics, textiles, and phosphates saw declines.