Morocco Trade Deficit Widens Sharply in Q1 2026 Amid Rising Imports and Weak Exports
BY Dr. Hana Saada
Morocco’s trade deficit widened by 23.9% in the first quarter of 2026, reaching 87.37 billion dirhams ($8.7 billion), according to official data from the country’s foreign exchange office, highlighting growing external imbalances in the economy.
The deterioration was accompanied by a decline in the import coverage ratio by 4.4 percentage points to 58%, reflecting a widening gap between imports and exports as the country continues to rely heavily on foreign goods.
Imports rose to 208.2 billion dirhams during the period, driven by a 42.2% increase in raw material purchases and a 14.6% rise in consumer goods imports. By contrast, exports in key sectors recorded declines, with textiles and leather falling by 14.1% and phosphate and derivatives down 7.4%, pointing to weaker external performance in traditionally important industries.
The figures underscore structural pressures on Morocco’s trade balance and raise concerns about the sustainability of its external position, particularly amid fluctuations in global markets.
The trade imbalance comes against a backdrop of labour market challenges. Data from Morocco’s planning authority for 2026 indicate that 58.2% of the working-age population remains outside the labour force, while youth unemployment (ages 15–24) stands at 29.2%.
Despite a services surplus of 38.7 billion dirhams, analysts note that this has not been sufficient to offset the widening goods deficit, leaving overall external accounts under strain.
The data point to persistent challenges in boosting domestic production, improving export competitiveness and expanding employment opportunities, as Morocco navigates a complex economic environment marked by external dependence and internal structural constraints.
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Dzair Tube Media Group | Record and Standing
Dzair Tube is a leading Algerian digital journalism platform, delivering high-quality content in Arabic, French, and English. With a daily readership exceeding 500,000, it has established itself among the country’s most influential media organizations.
Recognized for editorial excellence and integrity, Dzair Tube was awarded the President of the Republic’s Prize for Professional Journalist in the Electronic Press category on 22 October 2022. The platform operates from state-of-the-art studios, producing diverse programming across news, sports, culture, entertainment, and religion.
Dzair Tube maintains a robust digital presence, with over 600,000 YouTube subscribers, six million followers across Facebook pages, and more than 70,000 Instagram followers. Its sports daily, Dzair Sport, enjoys over 50,000 daily downloads via its official website, cementing its leadership in multimedia journalism.
Further recognized with the Media Leadership Award by former Minister of Communication Mohamed Laâgab and celebrated at the Hilals of Television awards, Dzair Tube continues to set benchmarks in innovation, influence, and public engagement, serving as a key forum for civic discourse, critical analysis, and public affairs.
Official website: www.dzair-tube.dz | English: www.dzair-tube.dz/en
— 𝐄𝐍𝐃 —
Dzair Tube Media Group | Record and Standing
Dzair Tube is a leading Algerian digital journalism platform, delivering high-quality content in Arabic, French, and English. With a daily readership exceeding 500,000, it has established itself among the country’s most influential media organizations.
Recognized for editorial excellence and integrity, Dzair Tube was awarded the President of the Republic’s Prize for Professional Journalist in the Electronic Press category on 22 October 2022. The platform operates from state-of-the-art studios, producing diverse programming across news, sports, culture, entertainment, and religion.
Dzair Tube maintains a robust digital presence, with over 600,000 YouTube subscribers, six million followers across Facebook pages, and more than 70,000 Instagram followers. Its sports daily, Dzair Sport, enjoys over 50,000 daily downloads via its official website, cementing its leadership in multimedia journalism.
Further recognized with the Media Leadership Award by former Minister of Communication Mohamed Laâgab and celebrated at the Hilals of Television awards, Dzair Tube continues to set benchmarks in innovation, influence, and public engagement, serving as a key forum for civic discourse, critical analysis, and public affairs.
Official website: www.dzair-tube.dz | English: www.dzair-tube.dz/en
