At the end of August 2024, Morocco’s imports reached 491.950 million DHmarking an increase in 4,6% compared to 2023. This increase in imports, representing +21.488 MDHis particularly linked to the purchase of finished equipment products, with an increase in 11.165 MDH (+10,9%)mainly in the commercial vehicle and electrical equipment sectors.
At the same time, the exports have progressed by 5,5 %reaching 295.097 MDHi.e. an increase of 15.425 MDH 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%passing from -190.790 MDH in August 2023 at -196.853 MDH in August 2024.
The coverage rate, for its part, has gained 0,6 pointsto be located at 59,4% in August 2024.
Export sectors: automobiles and phosphates in the lead
The automotive sector continued its growth, recording an increase of 7,6%either +7.191 MDH. 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% (+5.593 MDH). 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).
The balance of services falling
If the exports of services experienced an increase in 5,3% has 181.721 MDHthe excess of the balance of services has, on the other hand, declined 2,8% compared to last year. In fact, the surplus went from +90.766 MDH has +88.190 MDH in August 2024. This decline is notably due to the increase in imports of services, which increased by 14,3%.
In the tourism sector, travel recipes have reached 76.401 MDHup by 6,7%but the travel expenses have progressed by 18,3% to settle in 19.807 MDHslightly reducing the positive travel balance.
MRE transfers and foreign investments to the rescue
THE fund transfers of Moroccans living abroad (MRE) continue to strengthen their status as a fundamental economic lever, with an increase in 3,9%reaching 80.964 MDH at the end of August 2024. These shipments continue to support domestic consumption and strengthen Morocco’s foreign currency reserves.
On the side of foreign direct investment (FDI)the results are encouraging. THE FDI revenue have progressed by 13,9% has 25.354 MDHwhile the FDI spending have decreased by 18,6%reaching 10.140 MDH. The flux net d’IDE thus experienced a spectacular increase in 55,1%passing from +9.808 MDH in 2023 to +15.214 MDH in 2024, demonstrating the growing attractiveness of Morocco for foreign investors.
On the other hand, the Moroccan direct investments abroad (IDME) recorded a significant drop. THE IDME expenses have fallen by 35,8%while the flux nets IDME collapsed from 86,6%reaching only +1.011 MDH against +7.555 MDH the previous year.
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