Morocco’s Booming Automotive and Phosphate Exports: A Driving Force for Economic Growth
Morocco’s economy is witnessing a surge, fueled by the impressive growth of its automotive and phosphate exports. While the country’s trade deficit remains a challenge, the robust performance of these key sectors offers a promising outlook for future economic stability.
According to the Moroccan Exchange Office, the trade deficit widened by 5.2% in the first ten months of 2024, reaching 250 billion dirhams (approximately $25 billion USD). This increase is largely attributed to a 5.8% rise in imports, totaling 623 billion dirhams. However, it’s crucial to
