Morocco’s export economy shows mixed performance across strategic sectors
Morocco’s economic landscape presents a complex picture of sectoral divergence, with traditional powerhouses facing headwinds while emerging industries demonstrate robust growth, according to latest statistics from the Office des Changes and OECD analysis. The contrasting performance across key export sectors highlights both structural challenges and opportunities in the kingdom’s industrial transformation.
The automotive sector, historically Morocco’s export locomotive, experienced a 3.6% decline in the first half of 2025, with exports falling to 77.6 billion dirhams from 80.49 billion dirhams year-over-year. Vehicle construction bore the brunt with a 15.3% drop, though resilient segments including wiring (+3.5%), vehicle interiors (+8.1%), and powertrain systems (+7.1%) partially offset losses.
Conversely, the aerospace industry soared with 8.8% growth, reaching 14.13 billion dirhams in exports. Assembly operations grew 8.6% while electrical wiring systems advanced 9.6%, confirming Morocco’s status as a regional aerospace manufacturing hub attracting substantial foreign direct investment.
Energy imports declined 7.4% to 53.04 billion dirhams, driven by lower diesel and fuel oil prices. However, electricity imports surged 95.4%, potentially reflecting increased renewable energy infrastructure investments, though detailed figures remain pending.
Agri-food exports rose modestly by 3.2% to 48.5 billion dirhams, with agricultural branches gaining 10.3% while food processing declined 4.4%. This imbalance underscores the fragility of local value-added transformation, which remains heavily dependent on imported raw materials.
Tourism emerged as a bright spot with receipts climbing 9.6% to 53.96 billion dirhams, yielding a positive travel balance of 38.46 billion dirhams (+10.2%). Morocco capitalized on favorable international conditions and diversified offerings, positioning the sector for potential record-breaking visitor arrivals.
Foreign direct investment demonstrated remarkable momentum with receipts reaching 25.5 billion dirhams (+28%) and net flows surging 59% to 16.8 billion dirhams. This confidence reflects investor interest in strategic sectors including automotive, aerospace, infrastructure, and clean energy.
Despite positive indicators, challenges persist. Textile exports fell 4%, electronics dropped 7.8%, and the trade deficit widened 18.4% to 161.9 billion dirhams. The import coverage ratio declined to 59.3%, highlighting persistent external vulnerabilities requiring continued structural reforms and innovation to maintain long-term competitiveness.