Xifres de comerç exterior de Marroc

Foreign Trade in Figures

Morocco is very open to foreign trade, which represents 101% of its GDP (World Bank, latest data available). According to the latest figures from the Office des Changes, in terms of sectors, in 2022 exports were led by natural and chemical fertilizers (27.1%), cars (26.11%), agricultural (19%), and textile products (10.3%); whereas energy products were the main imports (20.8%), followed by wheat (3.5%), vehicle parts (3.2%), plastics and ammonia (2.9% each).

The country's main trade partners were Spain (19.6%) and France (18.7%), followed by Italy (4.5%) and Germany (4.1%). Spain was also the main supplier (14.1%), ahead of France (10.6%), China (10%), and Turkey (5.2% - data OdC for 2021). While European Union countries were the main trading partners (56.6% of total exports, 45.4% of imports), Morocco has also been strengthening its commercial integration with the rest of Africa, namely through the ratification of the African Continental Free Trade Area Agreement.

Morocco has a structurally negative trade balance, which continues to deplete its foreign exchange reserves. In 2022, the overall trade deficit was estimated at 11.5% of GDP by the World Bank (from 9.3% one year earlier). According to WTO data, in 2022 Morocco exported USD 41.4 billion worth of goods, recording an increase of 15.7% year-on-year; whereas the value of its imports stood at USD 71.8 billion, 23.7% more than the previous year. Morocco is a net exporter of services, with USD 21.9 billion in exports (+42.5% y-o-y, thanks to the good performance of the tourism sector) against USD 10.7 billion in imports (+25.3% y-o-y). The latest figures from the Office des Changes show that in the first six months of 2023, the merchandise exports of Morocco showed a significant increase, reaching MAD 221.3 billion, representing a rise of 1.9% compared to the previous year. This growth was primarily driven by the automotive, textile and leather, as well as the electronics and electricity sectors. Goods imports recorded a decrease of 1.6%, primarily attributable to the decline in purchases of semi-finished products, energy products, and raw materials. Overall, Morocco's imports totalled MAD 359.5 billion in the period under review.