Casablanca – Morocco’s trade deficit widened by 15.5% in 2025, reaching MAD 352.3 billion, as imports rose faster than exports, according to the Exchange Office’ annual foreign trade report.
The country’s trade deficit increased from MAD 304.9 billion in 2024, a rise of MAD 47.4 billion in one year. Imports reached MAD 822.3 billion, up 8% from MAD 761.3 billion a year earlier, while exports grew by 3% to MAD 470 billion.
The gap between imports and exports also pushed the import coverage rate down to 57.2% in 2025, compared with 59.9% in 2024. This means Moroccan exports covered a smaller share of the country’s spending on imported goods.
The report also found that imports accounted for 43.2% of domestic demand in 2025, up from 41.4% a year earlier. Meanwhile, the trade deficit rose to 22.7% of gross domestic product, compared with 19.9% in 2024.
Several product categories contributed to the increase in imports. Purchases of finished consumer goods rose by 11.8% to MAD 203.5 billion, driven largely by higher imports of passenger cars, medicines and pharmaceutical products.
Imports of finished equipment goods increased by 13.4%, adding MAD 23.5 billion to reach a higher annual total. The rise reflected increased purchases of utility vehicles, aircraft parts, airplanes and other aircraft.
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Imports of semi-finished products also grew, reaching MAD 171.9 billion, up 4.9% from MAD 163.9 billion in 2024. Meanwhile, imports of raw materials climbed by 31.2% to MAD 43.6 billion, largely because purchases of crude and unrefined sulfur increased by 67% to MAD 15.2 billion.
Food imports rose by 3.3% to MAD 94.7 billion. Higher purchases of live animals and corn contributed to the increase, while imports of raw or refined sugar and wheat declined.
Energy imports moved in the opposite direction. They fell by 5.5% to MAD 107.5 billion, marking the third consecutive annual decline. The Exchange Office attributed the drop mainly to lower prices, with the average import price falling from MAD 3,360 per tonne in 2024 to MAD 2,940 in 2025.
On the export side, the automotive industry remained Morocco’s leading export sector for the third consecutive year, generating MAD 159.2 billion. However, automotive exports edged down slightly from MAD 159.6 billion in 2024. Phosphates and derivatives ranked second, with exports rising 14.5% to MAD 99.7 billion.
Geographically, Europe remained Morocco’s largest trading partner, accounting for 59.8% of total trade. Trade with Asia increased by 15.6% to MAD 283 billion, raising its share of Morocco’s total trade to 21.9%.
China remained a key factor in the growing deficit. Morocco’s trade deficit with the country reached MAD 110.2 billion in 2025, up from MAD 86.2 billion in 2024, as imports from China increased by MAD 23.8 billion while exports fell slightly.
