Rabat, Aug 4 – Morocco’s automotive industry retained its position as the country’s largest export sector during the first half of 2026, with overseas sales rising 17.4% year on year to MAD 93.655 billion ($10.06 billion), according to the latest foreign trade indicators released by the Foreign Exchange Office.
The sector’s performance was driven primarily by higher exports from vehicle construction activities, which increased by MAD 7.988 billion to MAD 37.934 billion. Exports of automotive wiring products also recorded strong growth, rising by MAD 4.284 billion to MAD 35.050 billion, while shipments of exterior vehicle components climbed by MAD 983 million to MAD 2.952 billion.
Overall, Morocco’s exports reached MAD 260.397 billion between January and June, representing a 9.7% increase from MAD 237.305 billion during the same period in 2025.
Imports, however, expanded at a faster pace, increasing 15.3% to MAD 458.778 billion from MAD 397.887 billion a year earlier. The stronger growth in imports widened Morocco’s trade deficit by 23.5% to MAD 198.380 billion, while the export coverage ratio declined from 59.6% to 56.8%.
Beyond the automotive sector, several export industries recorded solid growth. Agriculture and agrifood exports rose 5.7% to MAD 52.382 billion, supported by stronger food industry shipments.
The aeronautics sector expanded 19.3% to MAD 17.323 billion, driven by increased exports from aircraft assembly and Electrical Wiring Interconnection System (EWIS) activities.
Meanwhile, exports classified under other mining products more than doubled to MAD 5.660 billion, largely reflecting higher shipments of copper ore.
On the import side, purchases of finished equipment goods rose 21.2% to MAD 112.342 billion, while imports of energy products and lubricants increased 28.9% to MAD 68.582 billion, driven mainly by higher purchases of gas oil and fuel oil.
Imports of consumer finished goods climbed 14.2% to MAD 111.116 billion, while raw material imports recorded the fastest growth, surging 37.7% to MAD 28.823 billion.
The report also highlighted continued strength in Morocco’s services sector. Travel receipts increased 15.9% to MAD 64.898 billion, contributing to a 16.8% rise in the country’s services trade surplus, which reached MAD 80.031 billion.
Foreign investment also remained resilient during the period. Foreign direct investment (FDI) receipts rose 14.4% to MAD 33.911 billion, lifting net FDI inflows by 31.5% year on year to MAD 26.161 billion.
The latest trade figures underscore the continued strength of Morocco’s export-oriented manufacturing industries, particularly automotive and aerospace, while highlighting the challenge posed by rapidly rising imports, especially energy and capital goods, on the country’s external trade balance.
