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Rabat — Morocco’s trade deficit climbed to nearly MAD 225.9 billion ($24.841 billion) during the first eight months of 2025, marking a 15.5% increase compared to the same period last year, according to the country’s Foreign Exchange Office.
The office’s monthly bulletin on foreign trade indicators attributes this widening gap to rising imports and exports. Goods imports surged 8.4% to reach MAD 533.42 billion ($58.658 billion), while exports grew at a slower pace of 3.8% to hit MAD 307.49 billion($33.847 billion).
The coverage rate — which measures how much of imports exports can pay for — fell by approximately 2.6 percentage points to settle at 57.6%.
The sharp rise in imports stems from multiple factors. Raw materials led the flow with a 31.5% increase, followed by finished consumer goods, which jumped 13.4%. Equipment goods rose 13%, while semi-finished products climbed 7.1%. Food imports posted a more modest gain of 2.2%.
In a bright spot for Morocco’s economy, the energy bill decreased by 6.2%.
Several key sectors powered Morocco’s export growth, with the phosphate and derivatives sector leading the way with a 21.1% increase, in a continued strength of the country’s mining industry.
Meanwhile, the aerospace sector posted a 5.6% gain, while agriculture and food processing industries grew by 3.8%.
The services balance offered some relief, with its surplus growing 10.3% to exceed MAD 102.04 billion ($11.22 billion).
Service imports rose 8.1% to reach MAD 100.24 billion ($11.02 billion), while service exports climbed 9.2% to hit MAD 202.28 billion ($22.24 billion).
The data suggests Morocco faces challenges in balancing its trade flows, as imports continue to outpace exports despite growth in key export sectors.
