Trade Morocco’s trade deficit widens on import surge By Nadim Kawach May 6, 2025, 9:57 AM Unsplash/Annie Spratt Morocco's imports were far greater than their exports in the first quarter of 2025 Morocco’s trade deficit widened in the first quarter after a surge in imports, the economy and finance ministry reported. The shortfall grew by nearly a fifth, or 17 percent, to MAD71.6 billion ($7.8 billion) in the three months to March 31, compared with MAD61 billion in the same period last year, ministry data this week showed. Imports swelled 7 percent to almost MAD188 billion, while exports grew by only 1.5 percent to MAD116 billion over the same period. While the import of products expanded, energy imports remained almost unchanged at around MAD28 billion. Morocco reports fiscal surplus in first quarter Exports of phosphates, which is roughly its third largest source of foreign exchange, surged by almost a fifth, or 18 percent, to MAD20 billion. Morocco is the world’s second largest producer of phosphate fertilisers after China. Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later
