Exports of goods and services are expected to grow by 7.7% in 2025, following a 7.9% increase in 2024, according to Morocco’s Forecasts and Statistics Office (HCP).
Driven by strong international demand, global exports, particularly in the automotive and aerospace industries, have shown positive momentum in 2024, and HCP expects exports to maintain that growth in 2025, HCP’s 2025 Economic Budget Outlook reported.
In contrast, while phosphate exports and their derivatives recorded significant growth in 2024 fueled by high demand from key partners, they are expected to slow down in 2025 due to base effects.
However, HCP projected textile exports to grow moderately, constrained by weak foreign demand and ongoing intense competition in international markets.
After a modest performance in 2024, HCP expected the exportable supply of agricultural and agro-food products to benefit in 2025 from a projected recovery in agricultural production.
Meanwhile, the office forecast the volume of goods exports to rise by 7.4% in 2025, slightly lower than the 7.6% growth estimated for 2024.
HCP also expected the volume of imported goods and services to increase by 7.9% in 2025, significantly down from the 11.1% growth forecast last year. It also projected the contribution of net external demand to economic growth in 2025 to remain negative at -0.8 points, an improvement over the -2.3 points in 2024.