Morocco flag Morocco: Economic and Political Overview

Foreign trade figures of Morocco

Foreign Trade in Figures

Morocco is very open to foreign trade, which represents 93% of its GDP in 2025 (World Bank). According to Comtrade data, in 2025, exports were led by electrical wires and cables (14.0%), passenger cars (13.6%), and fertilizers (12.5% for mixed fertilizers and 4.9% for phosphate fertilizers), followed by car parts and aircraft parts (4.3% each), and phosphoric acid (4.0%). The main imports were refined petroleum products (6.8%), car parts (4.5%), passenger cars (3.8%), electrical wires and cables (3.7%), aircraft parts (3.0%), and sulphur (2.9%).

In 2025, the country's main export destinations were Spain (22.1%), France (19.5%), Germany (5.6%), India (5.5%), Italy and the United Kingdom (4.0% each); whereas imports came chiefly from Spain (14.7%), China (12.7%), France (9.9%), the United States (9.1%), Germany (5.4%), and Türkiye (5.1% - data Comtrade).

Morocco has a structurally negative trade balance, which continues to deplete its foreign exchange reserves. In 2025, the overall trade deficit was estimated at 9.2% of GDP by the World Bank (from 8.2% one year earlier). According to WTO data, in 2025, Morocco exported USD 49.8 billion worth of goods, up 10.1% year-on-year; whereas the value of its imports stood at USD 87.4 billion, 15.4% more than the previous year. Morocco is a net exporter of services, with USD 33.6 billion in exports (+18.7% y-o-y) against USD 16.7 billion in imports (+17.1% y-o-y). The latest figures from the Office des Changes show that Moroccan exports saw a 2.8% growth in 2025, to MAD 469.08 billion. Automotive exports, the leading export sector, fell by 2% to MAD 154.49 billion, while phosphates and derivatives rose by 14.6% to MAD 99.8 billion. Imports, on the other hand, grew at a faster pace (+8% to MAD 822.22 billion), with the energy bill decreasing by 5.5% to MAD 107.57 billion. The overall trade deficit widened by 15.8%, reaching MAD 353.15 billion.

 
Foreign Trade Values 20212022202320242025
Imports of Goods (million USD) 58,03471,80768,63275,69987,389
Exports of Goods (million USD) 35,84341,48141,64245,22649,777
Imports of Services (million USD) 8,57310,77312,73414,25116,687
Exports of Services (million USD) 15,41622,00025,65528,33933,645

Source: World Trade Organisation (WTO) ; Latest available data

Foreign Trade Indicators 20212022202320242025
Foreign Trade (in % of GDP) 75.5100.993.192.293.1
Trade Balance (million USD) -19,967-26,462-25,112-27,191-33,465
Trade Balance (Including Service) (million USD) -13,125-15,235-12,191-13,104-16,507
Imports of Goods and Services (Annual % Change) 10.48.89.511.612.7
Exports of Goods and Services (Annual % Change) 7.920.77.98.06.3
Imports of Goods and Services (in % of GDP) 42.456.250.750.251.1
Exports of Goods and Services (in % of GDP) 33.144.742.442.042.0

Source: World Bank ; Latest available data

Foreign Trade Forecasts 2026 (e)2027 (e)2028 (e)2029 (e)2030 (e)
Volume of exports of goods and services (Annual % change) 5.27.36.15.75.6
Volume of imports of goods and services (Annual % change) 9.74.36.96.65.6

Source: IMF, World Economic Outlook ; Latest available data

Note: (e) Estimated Data

 
International Economic Cooperation
Morocco is a member of the following international economic organisations: IMF, Development (AFESD), ICC, Arab Maghreb Union (AMU), WTO, Arab Monetary Fund (AMF), G-77, Arab League, among others. For the full list of economic and other international organisations in which participates Morocco click here. International organisation membership of Morocco is also outlined here.
Free Trade Agreements
The complete and up-to-date list of Free Trade Agreements signed by Morocco can be consulted here.
 

Main Partner Countries

Main Customers
(% of Exports)
2025
Spain 22.1%
France 19.5%
Germany 5.6%
India 5.5%
Italy 4.0%
See More Countries 43.3%
Main Suppliers
(% of Imports)
2025
Spain 14.7%
China 12.7%
France 9.9%
United States 9.1%
Germany 5.4%
See More Countries 48.1%

Source: Comtrade, 2026. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

 
 

Main Products

88.8 bn USD of products exported in 2025
Insulated "incl. enamelled or anodised" wire,...Insulated "incl. enamelled or anodised" wire, cable "incl. coaxial cable" and other insulated electric conductors, whether or not fitted with connectors; optical fibre cables, made up of individually sheathed fibres, whether or not assembled with electric conductors or fitted with connectors 14.0%
Motor cars and other motor vehicles principally...Motor cars and other motor vehicles principally designed for the transport of persons, incl. station wagons and racing cars (excl. motor vehicles of heading 8702) 13.6%
Mineral or chemical fertilisers containing two or...Mineral or chemical fertilisers containing two or three of the fertilising elements nitrogen, phosphorus and potassium; other fertilisers (excl. pure animal or vegetable fertilisers or mineral or chemical nitrogenous, phosphatic or potassic fertilisers); animal, vegetable, mineral or chemical fertilisers in tablets or similar forms or in packages of a gross weight of <= 10 kg 12.5%
Mineral or chemical phosphatic fertilisers (excl....Mineral or chemical phosphatic fertilisers (excl. those in tablets or similar forms, or in packages with a gross weight of <= 10 kg) 4.9%
Parts and accessories for tractors, motor vehicles...Parts and accessories for tractors, motor vehicles for the transport of ten or more persons, motor cars and other motor vehicles principally designed for the transport of persons, motor vehicles for the transport of goods and special purpose motor vehicles of heading 8701 to 8705, n.e.s. 4.3%
See More Products 50.8%
112.0 bn USD of products imported in 2025
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals (excl. crude); preparations containing >= 70% by weight of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic constituents of the preparations, n.e.s.; waste oils containing mainly petroleum or bituminous minerals 6.8%
Parts and accessories for tractors, motor vehicles...Parts and accessories for tractors, motor vehicles for the transport of ten or more persons, motor cars and other motor vehicles principally designed for the transport of persons, motor vehicles for the transport of goods and special purpose motor vehicles of heading 8701 to 8705, n.e.s. 4.5%
Motor cars and other motor vehicles principally...Motor cars and other motor vehicles principally designed for the transport of persons, incl. station wagons and racing cars (excl. motor vehicles of heading 8702) 3.8%
Insulated "incl. enamelled or anodised" wire,...Insulated "incl. enamelled or anodised" wire, cable "incl. coaxial cable" and other insulated electric conductors, whether or not fitted with connectors; optical fibre cables, made up of individually sheathed fibres, whether or not assembled with electric conductors or fitted with connectors 3.7%
Sulphur of all kinds (excl. sublimed sulphur,...Sulphur of all kinds (excl. sublimed sulphur, precipitated sulphur and colloidal sulphur) 2.9%
See More Products 78.3%

Source: Comtrade, 2026. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

 
 

To go further, check out our service Import-Export Flows.

 

Main Services

28.2 bn USD of services exported in 2024
40.21%
19.75%
15.78%
9.34%
7.85%
2.05%
1.63%
1.56%
0.82%
0.51%
0.47%
0.03%
14.3 bn USD of services imported in 2024
41.06%
20.76%
12.78%
11.01%
6.32%
2.74%
1.52%
1.41%
1.12%
0.67%
0.58%
0.02%

Source: United Nations Statistics Division, 2026. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

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Latest Update: October 2026