At the end of August 2024, Morocco’s imports reached nearly 492 billion dirhamsmarking an increase in 4,6% compared to the same period in 2023. This increase in imports, representing +21.5 billion dirhamsis particularly linked to the purchase of finished equipment products, with an increase in 11.2 billion dirhams (+10.9%)mainly in the commercial vehicle and electrical equipment sectors.
At the same time, the exports have progressed by 5,5 %reaching 295 billion dirhamsi.e. an increase of 15.4 billion dirhams compared to the previous year. The automotive, phosphates and derivatives sectors, as well as the aeronautics sector, particularly contributed to this performance, with respective increases in 7,6%, 11,7%et 21,2%.
However, despite this export dynamic, the trade deficit got worse 3,2%. The coverage rate, for its part, has gained 0,6 pointsto be located at 59,4% at the end of August 2024.
Export sectors: automobiles and phosphates in the lead
The automotive sector continued its growth, recording an increase of 7,6%either +7.2 billion dirhams. This increase is driven by cabling sales (+8,2%), vehicles (+5,7%) and interior components (+18,6%).
For his part, the phosphates and derivatives sector was also there with an increase in 11,7% (+5.6 billion dirhams). This sector saw its sales of natural and chemical fertilizers increase by 8%while phosphate exports jumped 57,3% thanks to an increase in exported volumes.
L’aeronauticsin full expansion in the Kingdom, recorded a notable increase in 21,2%with an increase in sales of assembly and components for electrical wiring systems (EWIS).
