Morocco is strengthening its industrial and export capabilities, yet it remains dependent on foreign countries for some essential needs. This contrast highlights an old issue: the country produces what it does not consume and consumes what it does not produce. An analysis of the trade deficit and imports reveals that investments are being made to prepare for future production, but there are also indispensable supplies and dependencies that have not been adequately addressed.
According to data from 2024 to 2026, including statistics from the Ministry of Industry and Trade, the Office des changes, the World Bank, and the World Trade Organization, Morocco's trade and industry trends are being examined. The goal is to understand how foreign purchases contribute to developing skills, sustainable jobs, and added value in Morocco. The analysis emphasizes the need for in-depth reforms to finance production, develop local suppliers, and better meet domestic market needs.
Statistics from 2024 to 2026 show a dual trend: growth in industrial capacity and an increase in external supply needs. To assess this discrepancy, it is essential to measure the penetration of imports, their composition, the effect of prices, and the national capacities effectively mobilized. The data indicates that the share of imports in domestic demand is increasing, with the import penetration rate rising from 41.4% in 2024 to 43.2% in 2025.
In 2025, equipment and semi-finished products accounted for 371.133 billion dirhams, or 45.1% of total imports. Equipment alone explains 38.5% of the annual increase in foreign purchases. These figures suggest that the growth in imports is not solely due to increased consumption of foreign finished products. However, it is also not clear whether each equipment purchase leads to additional capacity, as some may replace existing equipment or serve non-export activities.
In 2026, three groups - equipment, energy, and raw products - account for 81.109 billion dirhams in additional purchases, or 79% of the total increase. The reasons for this growth vary, including investment and renewal for equipment, industrial supply for some raw products, and exposure to international prices for energy. A single response to all imports would therefore be poorly targeted.
The impact of price changes should not be confused with an increase in volumes. For gas-oils and fuel-oils, the Office des changes reports a 51% increase in the bill for the first nine months of 2026, combining a 47.5% increase in prices and a 2.4% increase in quantities. This highlights the importance of separating additional purchases and their cost in each sector.
Morocco has a significant industrial base, with an average productivity of 231,000 dirhams per employee, up 30% over ten years. However, the question remains as to how this productive base responds to domestic orders and develops local suppliers. The export growth varies significantly across sectors, with the automotive and aerospace industries driving a substantial portion of the increase in exports.
Key points
- Morocco's industrial growth is accompanied by rising import dependence.
- The country's import penetration rate increased from 41.4% in 2024 to 43.2% in 2025.
- Equipment and semi-finished products account for a significant portion of Morocco's imports.
