The following export product groups represent the highest dollar value in Moroccan global shipments during 2020. Also shown is the percentage share each export category represents in terms of overall exports from Morocco.

1. Electrical machinery, equipment: US$4.7 billion (16.9% of total exports)
2. Vehicles: $3.6 billion (13.1%)
3. Fertilizers: $3.4 billion (12.2%)
4. Clothing, accessories (not knit or crochet): $1.9 billion (6.9%)
5. Fruits, nuts: $1.5 billion (5.4%)
6. Vegetables: $1.32 billion (4.7%)
7. Fish: $1.26 billion (4.5%)
8. Inorganic chemicals: $1.2 billion (4.4%)
9. Aircraft, spacecraft: $951.3 million (3.4%)
10. Salt, sulphur, stone, cement: $930.5 million (3.3%)

Morocco’s top 10 exports accounted for about three-quarters (74.9%) of the overall value of its global shipments.

Fertilizers was the fastest grower among the top 10 export categories, up by 16.1% from 2019 to 2020. The only two other product categories to improve export sales were fruits and nuts (up 10.5%) and fish (up 3.6%).

The leading decliner among Morocco’s top 10 export categories was unknitted and non-crocheted clothing or accessories thanks to a -20.6% annual drop.

At the more detailed four-digit Harmonized Tariff System (HTS) code level, in 2020 Morocco’s most valuable exported products were fertilizer mixes (11.2% of the global total) ; insulated wire or cable (11%); cars (10.8%); phosphoric and polyphosphoric acids (4.3%); unknitted and non-crocheted women’s clothing (3.1%); aircraft parts (3%); natural calcium or aluminum phosphates (2.8%); fish including caviar (2.8%) then fresh or chilled tomatoes (also 2.8%).

The following types of Moroccan product shipments represent positive net exports or a trade balance surplus. Investopedia defines net exports as the value of a country’s total exports minus the value of its total imports.

In a nutshell, net exports represent the amount by which foreign spending on a home country’s goods or services exceeds or lags the home country’s spending on foreign goods or services.

1. Fertilizers: US$3.1 billion (Up by 17.8% since 2019)
2. Clothing, accessories (not knit or crochet): $1.7 billion (Down by -22.5%)
3. Vegetables: $1.15 billion (Down by -11%)
4. Fruits, nuts: $1.1 billion (Up by 7.3%)
5. Fish: $1.09 billion (Up by 9.7%)
6. Meat/seafood preparations: $791.2 million (Up by 1.3%)
7. Inorganic chemicals: $551.1 million (Down by -25.6%)
8. Knit or crochet clothing, accessories: $401.1 million (Down by -26.5%)
9. Salt, sulphur, stone, cement: $346.5 million (Up by 59.4%)
10. Ores, slag, ash: $241.4 million (Up by 6.3%)

Morocco has highly positive net exports in the international trade of fertilizers. In turn, these cashflows indicate Morocco’s strong competitive advantages under the fertilizers product category.

Overall Morocco incurred a -$16.8 billion product trade deficit for 2020, falling -21.8% from -$21.5 billion in red ink one year earlier.

Below are exports from Morocco that result in negative net exports or product trade balance deficits. These negative net exports reveal product categories where foreign spending on home country Morocco’s goods trail Moroccan importer spending on foreign products.

1. Mineral fuels including oil: -US$5.1 billion (Down by -31.5% since 2019)
2. Machinery including computers: -$4.6 billion (Down by -12.1%)
3. Cereals: -$2.3 billion (Up by 40.5%)
4. Plastics, plastic articles: -$1.8 billion (Down by -8.9%)
5. Iron, steel: -$1.2 billion (Down by -16.3%)
6. Articles of iron or steel: -$727.3 million (Down by -3.9%)
7. Pharmaceuticals: -$648 million (Up by 17.4%)
8. Optical, technical, medical apparatus: -$639 million (Up by 10.1%)
9. Paper, paper items: -$628.2 million (Down by -3.4%)
10. Other chemical goods: -$599.3 million (Up by 9.8%)

Morocco has highly negative net exports and therefore deep international trade deficits under the mineral fuels including oil category notably for refined petroleum oils, petroleum gas, coal then petroleum coke including other residues from petroleum oil.

Moroccan Export Companies

Three Moroccan regional banks rank among Forbes Global 2000, namely:

• Attijariwafa Bank
• Banque Centrale Populaire
• BMCE Bank

Wikipedia lists some exports-related companies headquartered in Morocco. Selected examples are shown below.

• Akwa Group (oil, gas)
• Compagnie Marocaine de Navigation (shipping)
• Laraki (automobiles)
• Les Domaines Agricoles (agribusiness)
• Med Airlines (cargo airliner)
• Nareva (oil, gas)
• Office Chérifien des Phosphates (phosphate)
• Société Automobiles Ménara (automobiles)
• Somaca (automobiles)
• Sonasid (steel)