In a significant development for Morocco's economic landscape, Omar Hajira, the Minister Delegate to the Minister of Industry and Trade responsible for Foreign Trade, revealed on Monday that the country's industrial exports have reached a remarkable daily value of 1 billion dirhams. This announcement came during a session of oral questions at the House of Representatives, where the minister also outlined the ministry's intention to evaluate all free trade agreements in a bid to address the ongoing trade imbalance facing the kingdom.
During his address, Hajira detailed that Morocco's external trade volume amounted to 952.4 billion dirhams from January to August 2026, compared to 1.3 trillion dirhams in 2025. He pointed out that Moroccan exports have seen a 3.7% increase during the first nine months of the year, while imports surged by 15.8%. This disparity has led to a significant exacerbation of the trade deficit within the nation.
Exporting 1 Billion Dirhams Daily
Despite the escalating trade deficit, the Minister emphasized the advancements in Morocco's industrial capabilities. He noted that the Moroccan industrial sector is currently generating daily revenues of 2.5 billion dirhams, with 1 billion dirhams allocated specifically for exports. In discussing the automotive sector, Hajira defended the achievements of Morocco's automotive industry against skeptics, asserting that the country now manufactures 70% of automotive parts locally. This statement reflects a growing confidence in Morocco's industrial prowess.
Hajira also outlined the challenges facing Morocco's foreign trade, which hinder the potential growth of exports. He highlighted that 85% of Moroccan exports are concentrated along the corridor between Tangier and El Jadida, with 70% of these products directed towards European markets. Furthermore, he pointed out that a staggering 92% of total exports are concentrated in just six sectors, while a mere 10% of exporting companies account for 90% of the kingdom's overall exports.
Evaluation of Free Trade Agreements
The Minister urged parliamentarians, stating, "We cannot move forward without assessing our foreign trade operations." He acknowledged that the current imbalance in the trade balance necessitates a reassessment of exports. Consequently, Hajira announced the ministry's plan to conduct a comprehensive evaluation of the free trade agreements that Morocco has established with various countries, aiming to rectify the identified discrepancies in the trade balance.
He further indicated that the ministry will undertake a careful review of the 12 free trade agreements during its program for the 2026-2031 term, highlighting that while some agreements are beneficial, others have failed to meet their intended objectives. Regarding the Power Export program, which aims to enhance exports from very small, small, and medium-sized Moroccan enterprises, the minister revealed that the duration of this program will be extended until 2031.
As reported by hespress.com.
