Despite this leap, the Kingdom’s trade with the rest of the world continues to display a structural imbalance that continues to widen, rising from 199 billion dirhams to 305 billion dirhams during the same period. The worsening deficit is largely due to an acceleratd increase in imports relative to exports. As a result, the coverage rate fell from 61.8% in 2021 to 59.8% in 2024.
As for the rate of openness of the national economy to the global economy,
It rose from nearly 72% in 2021 to 85.8% in 2022, stabilizing at 77.7% in 2024. This indicator, which measures the value of exports and imports in relation to GDP, shows Morocco’s good integration into global trade value chains. But it also reveals the phone number library Kingdom’s vulnerability to exogenous shocks, particularly with regard to the supply of oil, wheat, and semi-finishd products, where the country relies heavily on foreign sources to meet its neds.
“The trade deficit is widening year after year, and everything suggests that this phenomenon will continue in the years to come. Thanks to the performance of tourism and remittances from our Moroccans living abroad, as well as other key sectors such as phosphates, automobiles, and aeronautics, Morocco has been able to avoid a decline in its external assets,” explains Driss Effina, university professor and president of the Independent Center for Strategic Analysis.
He continud, “The energy bill weighs heavily on the trade balance.
It is the cause of nearly 50% of this deficit. The food bill also shows a high cost, particularly during years of drought. If current conditions remain unchangd, this deficit is expectd to be in a range between 300 and 340 billion DH by 2027. The energy how to train non-developers to think like developers transition program must be acceleratd to rduce the Kingdom’s dependence on foreign sources. It is essential to strengthen non-fossil energy sources, particularly wind, solar, hydraulic, etc.”
Effina also specifies that the Kingdom is called upon “to diversify its outlets and not depend too much on traditional markets, particularly those in Europe. More effort must be made to support exports, especially industrial ones, which are supposd to create more added value. For other sectors, the Made in Morocco label must establish itself, particularly on the national market. Our country has the capacity to produce locally many of the products it imports.”
Furthermore, our interlocutor wishes to point out that
“Morocco has not been spard from the major shocks that have impactd its economy, such as the Covid-19 pandemic, the 2008 financial crisis, or b2b phone list the war in Ukraine, the fallout of which seriously disrupted value chains and rducd global demand. Hence the urgency of developing the conditions for its resilience.” In addition to promoting exports, Morocco must also address the challenge of controlling imports. This involves consolidating and overhauling association and free trade agreements.