Public Management

Morocco’s Trade Deficit Grows by 5.2% by October 2024

Morocco’s Trade Deficit Grows by 5.2% by October 2024
Monday, 02 December 2024 16:14

As of the end of October 2024, Morocco's total imports increased by 5.8%, driven mainly by purchases of finished goods and food products, according to the Foreign Exchange Office.

Morocco’s trade deficit increased by 5.2% by the end of October 2024, reaching 249.83 billion dirhams (about $25 billion), compared to 237.49 billion dirhams in the same period in 2023. This information comes from the Foreign Exchange Office’s latest report on external trade.

The report highlights that the deficit growth is mainly due to a 5.8% rise in imports, which reached 623.38 billion dirhams. This increase was driven by higher imports of finished goods and food products.

2ef07d4978a7cac L

Exports also grew during this period, increasing by 6.2% to 373.54 billion dirhams. Phosphates and their derivatives, along with the automobile sector, were the main drivers of export growth. The agri-food sector also showed a modest rise of 2.9%.

Morocco’s High Commission for Planning estimates that the country's economy grew by 2.8% in Q3 2024 compared to Q3 2023. This growth is attributed to a continued recovery in domestic demand and stronger export performance. For the fourth quarter, the commission projects a 2.5% growth rate, citing a more moderate expansion in secondary industries and a continued decline in primary sector activities.

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
EIB Global invested $80 million in RMBV North Africa III, becoming the fund’s anchor investor The fund targets more than $300 million in...
Standard Chartered to sell all Botswana operations, exit market entirely Sale plan expanded after buyers sought full business, not partial...
nabD replaces SoGé following Saham’s takeover of Société Générale Maroc The platform offers mobile-first banking with remote account opening A...
Ghana’s First Atlantic Bank approved to operate in Liberia Liberia entry follows $60M IPO on Ghana Stock Exchange in 2025 FAB aims to...
Most Read
01

Africa’s AI adoption is accelerating, but its ability to scale depends primarily on foundational i...

Africa’s Artificial Intelligence Moment : Infrastructure, Governance and the Path to Scale
02

Development Partners International sold its 20.17% stake in Atlantic Business International for mo...

DPI Exits Atlantic Business International in $200 Million-Plus Deal
03

African billionaires increased their combined net worth by $21.9 billion in 2025. Nigerian b...

Africa’s Billionaires Post Strong Gains as Global Wealth Hits Record
04

Africa’s energy & mining exports benefit from US tariff exemptions, cushioning trade as most other...

Africa’s Energy Boom in 2026 Puts AfCFTA at the Heart of Its Trade Response to US Tariffs
05

Flutterwave acquired Nigerian open banking startup Mono in an all-share deal valued between $...

Flutterwave Adds Open Banking With Mono Acquisition
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.