Latest news with #OfficedesChanges
Ya Biladi
a day ago
- Business
- Ya Biladi
Morocco's foreign direct investment surges by 41.7 percent by May 2025
The net flow of foreign direct investment (FDI) reached 14.12 billion dirhams by the end of May 2025, representing a 41.7% increase compared to the same period last year, according to the Office des Changes. Revenues from these investments rose by 27% to 21.89 billion dirhams, while expenses increased by 6.9% to 7.77 billion dirhams, as detailed in the Office's bulletin on external trade indicators for May 2025. Regarding the net flow of Moroccan direct investment abroad (IDME), it grew by 50.3%, the same source reports. However, revenues from the sale of these investments declined by 21.7% to 6.11 billion dirhams, and expenses decreased by 10.3% to 8.32 billion dirhams.
Morocco World
01-05-2025
- Business
- Morocco World
Morocco's Trade Deficit Climbs to MAD 71 Billion in Early 2025
Rabat – Morocco's trade deficit grew sharply in the first quarter of 2025 to reach MAD 71.63 billion ($7.1 billion), a 16.9% rise from the same period last year. The figures, released by the Office des Changes, reflect an increase in the value of imports that outstripped a modest rise in exports. Imports stood at MAD 187.7 billion ($18.6 billion), up 6.9%, while exports rose only slightly, reaching MAD 116.07 billion ($11.5 billion), a gain of just 1.5%. As a result, the trade coverage ratio dropped to 61.8%, down by more than three percentage points. The report attributes the heavier import bill to a general rise across all product categories. Morocco spent more on raw materials, which jumped 27.6% to MAD 9.36 billion ($925 million). Food imports followed suit, climbing to MAD 23.94 billion ($2.37 billion) — marking a 9.4% increase. Consumer goods and capital equipment also saw notable gains, reaching MAD 43.59 billion ($4.3 billion) and MAD 43.04 billion ($4.26 billion), respectively. Even energy imports, despite global fluctuations, inched up to MAD 28.22 billion ($2.79 billion). On the export side, a few sectors showed strength. Phosphates and their derivatives brought in MAD 20.3 billion ($2 billion), an increase of 18.2%. The mining industry outside of phosphates also made gains, with exports totaling MAD 1.38 billion ($137 million). The aeronautics sector continued to build momentum, reaching MAD 7.03 billion ($695 million), while agri-food exports held steady at MAD 26.74 billion ($2.64 billion). But the news wasn't positive across the board. Key sectors that typically support Morocco's export profile posted losses . Electronics and electrical goods fell to MAD 4.21 billion ($417 million), down 11.6%. Automotive exports declined by 7.8% to MAD 37.36 billion ($3.7 billion), while textiles and leather slipped to MAD 11.51 billion ($1.14 billion), a 1.4% drop. The numbers suggest that Morocco's trade imbalance stems less from a sudden import surge than from sluggish export growth. Despite global demand in sectors like phosphates and aviation, traditional pillars such as cars and textiles showed signs of weakening performance. Tags: economyMorocco economymorocco trade deficittradeTrade deficit
Ya Biladi
17-03-2025
- Business
- Ya Biladi
Spanish exports to Morocco reach €12.9 billion in 2024, with Morocco as key supplier and client
Spanish exports to Morocco have shown consistent growth over the past five years, with a slight dip in 2020 due to the COVID-19 pandemic, according to data by the Spanish Ministry of Economy and Trade shared with Yabiladi on Monday. Total exports ranged from €7.352 billion in 2020 to €12.859 billion in 2024. Increases of 24% were recorded in 2022, followed by 4% in 2023, and a 5% growth in 2024. The main exports from Spain to Morocco in 2024 were fuels (18%), machinery (12%), vehicles (11%), electrical equipment (9%), and plastics (6%). Similarly, imports from Morocco to Spain have also been steadily increasing, except in 2020. These imports ranged from €6.372 billion in 2020 to €9.834 billion in 2024. There was a 19% increase in 2022, 4% in 2023, and a 9% growth in 2024. The top categories of Spanish imports from Morocco in 2024 included electrical equipment (30%), non-knitted clothing (15%), vehicles (12%), fish (9%), and fruits (6%). Morocco a supplier and a client for Spain Morocco plays a crucial role as both a supplier and a client in the bilateral trade between the two countries. In 2024, Morocco accounted for 3.34% of Spain's total exports, making it Spain's 7th largest global client and 3rd outside the EU, after the UK and the US. It remains Spain's primary client in Africa, representing 61% of Spain's sales to the continent and 79% of sales to North Africa. As a supplier, Morocco contributed 2.32% of Spain's total imports in 2024, positioning it as Spain's 10th largest supplier globally and 4th outside the EU. Morocco is also Spain's leading supplier in Africa, accounting for 28% of Spain's total imports from the continent. The importance of Morocco as a trading partner has grown significantly over the years. In 2000, Morocco accounted for just 1.1% of Spain's global exports and 0.57% of Spain's imports. Spain, leading EU supplier to Morocco In 2024, Spain was the leading EU supplier to Morocco, accounting for 37% of Morocco's total imports from the EU. It was followed by France (20%), Germany (10%), and Italy (8%). Additionally, Spain was Morocco's largest client within the EU, representing 38% of Morocco's exports to the EU, ahead of France (27%) and Italy (9%). According to data from Morocco's Office des Changes, in 2023, Spain was Morocco's largest supplier, contributing 15.7% of Morocco's total imports, surpassing China (10.6%) and France (10.6%). Spain was also Morocco's top global client, receiving 22.5% of Morocco's total exports, ahead of France (20.3%). Spain has been a significant investor in Morocco. As of December 2022, Spanish investments in Morocco amounted to €1.905 billion, creating 27,655 jobs. This positions Morocco as the 29th largest destination for Spanish investments globally and the top investment destination in Africa, accounting for 32% of Spain's total investments on the continent. Spanish investments are diverse, spanning sectors such as insurance, construction, non-metallic products, paper, and beverages. On the other hand, Moroccan investments in Spain amounted to €152 million in 2022, creating 667 jobs. Morocco is the 62nd largest global investor in Spain and the 5th largest African investor, with a focus on financial services, trade, and real estate.
Morocco World
05-03-2025
- Business
- Morocco World
Morocco's Trade Deficit Spiked by 13.3% in January
Rabat – Office des Changes, the regulating body of foreign exchange in Morocco, reported in its latest bulletin of foreign trade indicators that the trade deficit has jumped by 13.3% in January 2025. Morocco's commercial deficit hit MAD 24.48 billion ($2.49 billion) by the end of January of this year, recording a 13.3% rise in comparison to the previous year. This jump is attributed to the country's imports reaching MAD 59.84 billion ($ 6.09 billion) with a 3.4% rise, while exports registered at MAD 35.35 billion ($3.59 billion) with a 2.4% decrease. The coverage ratio, an indicator that measures the extent to which exports' earnings can finance imports, has also hit 59.1%, plummeting by 3.5 points. The surge in imports is also ascribed to the rise of prices of goods in various categories. These include raw materials that rose by 17.8% at MAD 2.96 billion, manufacturing equipment products by 10.8% at MAD 14.15 billion ($1.44 billion) consumer products by 6.4% at MAD 12.83 billion ($1.3 billion), food products by 3.1% at MAD 8.21 billion ($835.54 million), and semi-finished products by 1.7% at MAD 13.03 billion ($1.32 billion). Exports have been largely sustained through the achievements of the aerospace industry with a increase of 14.2% at around MAD 2.23 billion ($226.95 million), as well as a 5% rise in leather and textiles at MAD 3.75 billion ($381.64 million), and other mining extractions that grew by 21.2% at MAD 408 billion ($41.52 billion). Morocco has been striving to reshape its foreign trade policy in recent years through encouraging regional engagement. Morocco's state secretary in charge of foreign trade, Omar Hejira, said that his ministry has received 524 proposals from over 12000 participants for the 2025-2026 Trade Roadmap in Parliament last December 2024. This plan aims to target key areas that could promote the sector's growth, including simplifying the administrative processes, supporting small and medium-sized enterprises, diversifying the market with a special focus on Africa, and bolstering exports. Tags: African tradeExportsForeign Tradeimports
Morocco World
04-03-2025
- Business
- Morocco World
Morocco's Remittances Soared to Over $950 Million in January 2025
Rabat – Remittances from Morocco's diaspora reached more than MAD 9.45 billion ($950 million) by the end of January 2025, slightly surpassing the MAD 9.4 billion ($940 million) recorded a year earlier, according to the Office des Changes. This modest increase of MAD 44 million ($4.4 million) reflects the steady flow of financial support sent by the diaspora. Money transfers from Moroccans abroad remain vital to the country's economy. The Moroccan government continues to seek ways to deepen engagement with the diaspora and encourage more investment in their homeland. Foreign direct investment (FDI) also showed positive momentum, with net inflows exceeding MAD 3.23 billion ($325 million), a 16.9% rise from the previous year. Investment revenues grew by 24.1% to reach MAD 4.94 billion ($500 million), while expenses expanded by 40.4% to MAD 1.7 billion ($170 million). Moroccan direct investments abroad saw a notable shift, with net flows reaching MAD 723 million ($73 million), a sharp improvement from the negative balance of MAD 89 million ($9 million) recorded in January 2024. Revenues from these investments edged up by 1.7% to MAD 1.5 billion ($150 million), while expenditures surged by nearly 60% to MAD 2.23 billion ($225 million). These figures show the ongoing financial exchanges between Morocco and the global economy, which are shaped by remittances, foreign investments, and the growing presence of Moroccan capital abroad. In 2024, these remittances reached over MAD 117.7 billion ($11.7 billion), representing an uptick of 2.1% compared to 2023.
