Morocco's trade deficit reached 51.5 billion dirhams at the end of February 2026, according to the latest data from the Office des Changes. This represents an increase compared to the same period in the previous year.
The rise in the deficit is attributed to a significant increase in imports, particularly for energy products and capital goods. These imports grew at a faster rate than the country's exports during the first two months of the year.
Exports saw growth in several key sectors, including the automotive industry, which remains a strong performer for the Moroccan economy. However, this growth was insufficient to offset the higher import bill.
The trade figures are a key economic indicator monitored by analysts to assess the health of Morocco's external accounts and its dependence on foreign markets for energy and industrial inputs.
