Morocco Faces Increased Economic Pressure with Surging Trade Deficit
The Moroccan economy has entered the initial months of 2026 under heightened pressure, as recent data from the Office of Foreign Exchange reveals a stark increase in the trade deficit, which has soared to 244.69 billion dirhams during the first seven months of the year. This figure marks a significant rise of 26.5% compared to the same period last year, highlighting a growing disparity between imports and the country's export capabilities.
The statistics illustrate a widening gap between what Morocco imports and what it can export to international markets. Imports of goods have surged by 15.9%, reaching 544.045 billion dirhams, while exports only amounted to 299.34 billion dirhams. The core issue lies not solely in the increase of imports but rather in the substantial difference between the growth rates of imports and exports. While imports have risen by over 74 billion dirhams, the increase in exports has been limited to just 23 billion dirhams. This imbalance has consequently led to a notable expansion of the trade deficit in a relatively short timeframe.
Even more alarming is the decline in the coverage ratio of imports by exports, which has dropped by 3.8 percentage points to settle at a mere 55%. In clearer terms, Moroccan exports now cover just slightly more than half of the value of imports. This statistic serves as a critical indicator of the significant imbalance within the trade balance. Despite ongoing discussions in Morocco about diversifying its economy and strengthening its export capacity, the trade data indicates that imports continue to grow at a significantly faster pace than exports.
As reported by al24news.dz.
