The trade deficit is expected to decrease from 19.9% of GDP in 2024 to 19.6% in 2025, while remaining above the average of 16.3% observed between 2015 and 2019, according to the Office of the High Commissioner for Plan (HCP).
This decline is attributed to the continued drop in raw material prices, which should reduce energy and cereal bills, indicates the same source.
However, the value of imports of goods is expected to increase by 6.1% in 2025, after an increase of 5.6% anticipated in 2024, due to strong growth in imported volume, which is expected to increase by 7.9% in 2025, after an estimated increase of 11.1% in 2024.
For its part, the value of exports of goods is expected to grow by 6.8% in 2025, compared to 5.4% estimated the previous year.
Concerning trade in services, tourism activity should continue to stimulate exports of travel and transport services, thanks to a strengthening of tourist attractiveness.
-Finally, the resource deficit is expected to increase from 11.2% of GDP in 2024 to 10.9% in 2025, supported by the dynamics of tourism activities.
In this context, and taking into account the income of Moroccans living abroad (MRE), the current account deficit should stabilize at 1.5% of GDP for 2024 and 2025.
Belgium
