Morocco’s trade deficit fell by 1% to 117 billion MAD in the first five months of 2024, down from 118.26 billion MAD the previous year, according to Morocco’s foreign exchange regulator “Office des Changes”.
Imports increased by 2.3% to reach 308.8 Bln MAD at the end of May 2024, while exports rose by 4.4% to 191.7 Bln MAD, driving the trade deficit trend in Morocco, the Office pointed out in its monthly bulletin on foreign trade statistics.
Considering trade in services, the regulator reported a 6% decrease in the surplus on the balance of services, which amounted to 49.1 Bln MAD compared to 52.3 Bln MAD at the end of May 2023.
This decline is due to a 14.2% increase in service imports, while service exports increased by 4%.