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Morocco Economic Growth, Trade Deficit, and Tourism Trends

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2026-09-05 13:52 UTC → 2026-09-08 17:14 UTC · added ~~removed~~

Morocco Economic Growth, Trade Deficit, and ~~Industrial Diver~~ Tourism Trends

Morocco’s economy continues to expand, supported by a surge in foreign direct investment, which grew 29% in 2025. While manufacturing and export sectors like automotive and aerospace show double-digit growth, the trade deficit widened to 198.38 billion dirhams in the first half of 2026, a 23.5% year-on-year increase. This imbalance is driven by a 15.3% rise in imports, particularly for energy and equipment, resulting in a coverage ratio of 56.8%, the lowest since 2018. Industrial and construction sectors are forecasted to see increased activity in the third quarter of 2026. Manufacturing production in the second quarter was driven by the automotive, electrical equipment, and chemical industries, though sectors such as textiles and paper experienced declines. In construction, SGTM reported an order book of 34.8 billion dirhams as of late June, with 70.9% of orders coming from the semi-public sector. Upcoming major projects include the new Terminal Hub at Casablanca’s Mohammed V Airport, the Bou Ahmed dam, and maritime works at Dakhla Atlantique and Nador West Med. However, 34% of manufacturing companies reported difficulties obtaining raw materials. Aviation and tourism remain strong drivers of growth. National airport passenger traffic reached 22,282,997 through July 2026, an 8.77% increase from 2025. ~~Specifically, Mohammed V International Airport in Casablanca recorded a 9.7% increase in passenger traffic through July 2026, handling nearly 7 million passengers. In the first half of~~ Through August 2026, Morocco welcomed ~~9.4~~ 14.1 million tourists, a ~~6% year-on-year increase, generating 64.9 billion dirhams~~ 4.5% increase compared to the same period in ~~revenue.~~ 2025. Notably, August alone surpassed 2 million visitors for the first time. Minister Fatim-Zahra Ammor stated that tourism dynamics are built on “solid and sustainable foundations,” noting the 2023-2026 Roadmap is yielding results. However, domestic trends show a shift; a recent study indicates 74% of Moroccans chose to stay home during the 2026 summer season, with 56% of non-travelers citing financial reasons. Among those who did travel, 91% opted for domestic tourism.

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