[CLSTR]
< Back to situations

Monitor this situation.

[SITUATION] · [ACTIVE] · [BUSINESS]

9 clusters · 26 sources · 43 days · First seen · Last updated

Moroccan economic growth and trade expansion

Overview

Morocco continues to demonstrate economic growth through expanded bilateral trade and rising foreign exchange reserves. Bank Al-Maghrib forecasts that reserves will reach approximately 55.65 billion dollars (502.8 billion dirhams) by the end of 2026, potentially exceeding 57 billion dollars by 2027. In September 2026, Bank Al-Maghrib reported that foreign exchange reserves surpassed 500 billion dirhams (approximately 54 billion USD) for the first time, a more than 21 percent increase compared to the same period last year.

Growth is supported by strong industrial exports and significant trade with Spain. Bilateral exchanges with Spain exceeded 14.19 billion euros during the first seven months of 2026, with Spanish exports to Morocco reaching a record 1.159 billion euros in July. However, external account pressures persist. The current account deficit is projected to widen from 2.4% of GDP in 2025 to 4.6% in 2026 due to the rising costs of capital goods and petroleum. In the second quarter of 2026, import unit values rose by 10% year-on-year, driven largely by a 97% jump in mineral raw materials and a 53.1% increase in energy and lubricants.

These import pressures have impacted the Moroccan dirham, which faced depreciation against the euro and the US dollar in late 2026. Despite this, the interbank foreign exchange market saw significant activity, with transaction volumes rising 88.1% in August 2026 compared to the previous year. While the 2026 Africa Risk-Reward Index noted a slight decline in Morocco’s score due to rising perceived risk, the nation maintains strong macroeconomic fundamentals, including low inflation and a projected 4.9% growth rate for 2025.

Entities

Morocco · Bank Al-Maghrib · Central Bank of Tunisia · European Union · CORES

Timeline

  1. [BUSINESS] 3 sources
    Morocco butane gas subsidy costs drop to 12 billion dirhams

    Morocco's butane gas subsidy spending fell 20% to 12 billion dirhams in 2025 due to lower import costs and reduced per-cylinder subsidies.

  2. [BUSINESS] 2 sources
    Morocco butane gas import costs rise despite lower volumes

    Morocco's butane gas import bill from the EU rose by nearly MAD 200 million in the first eight months of 2026, despite an 11.44% decrease in total shipment volumes.

  3. [BUSINESS] 2 sources
    Spain petroleum exports to Morocco rise 50.6% in August

    Spanish petroleum exports to Morocco surged 50.6% in August 2026, reaching 271,000 tons and making Morocco the top destination for these products, driven primarily by a 94% increase in gasoil shipments.

  4. [BUSINESS] 2 sources
    Morocco interbank foreign exchange volume rises 88.1% in August

    Morocco's interbank foreign exchange volume surged 88.1% year-on-year to 29.6 billion dirhams in August 2026, according to Bank Al-Maghrib.

  5. [BUSINESS] 5 sources
    Moroccan dirham and Tunisian dinar face pressure from rising imports

    The Moroccan dirham and Tunisian dinar are weakening against the US dollar and euro due to rising import costs, energy demands, and widening trade deficits in both nations.

  6. [BUSINESS] 8 sources
    Morocco foreign trade unit values rise in Q2 2026

    Morocco's import and export unit values rose by 10% and 10.9% respectively in Q2 2026, driven by mineral products and energy.

  7. [BUSINESS] 2 sources
    Morocco-Spain trade exceeds 14.19 billion euros

    Morocco and Spain have seen significant trade growth, with total exchanges exceeding 14.19 billion euros in the first seven months of the year.

  8. [BUSINESS] 3 sources
    Morocco projected to reach $55 billion in foreign exchange reserves by 2026

    Morocco's foreign exchange reserves are projected to hit $55.65 billion by 2026, despite rising trade deficits and a slight increase in perceived risk according to the Africa Risk-Reward Index.

  9. [BUSINESS] 2 sources
    Morocco foreign exchange reserves exceed 500 billion dirhams

    Morocco's foreign exchange reserves have exceeded 500 billion dirhams ($54 billion), a 21% annual increase driven by record foreign investment, automotive exports, and rising tourism and remittances.

Sources

akhbarona.com · algerie360.com · aljarida24.ma · ar.hibapress.com · article19.ma · assafir24.ma · atlas24.ma · cresus.dz · europesays.com · infomediaire.net · lapresse.tn · larazon.es · lebrief.ma · lemarche.finance · lemaroc360.com · lenew.ma · lenouvelliste.ma · leseco.ma · maghreb-intelligence.com · maroc-actu.com · meneame.net · nadorcity.com · oujdacity.net · taroudantpress.com · tsa-algerie.com · webdo.tn

This summary has been updated 8 times: see revision history