Morocco’s drug import bill widens gap with exports, deficit seen hitting MAD 13.4 billion

Morocco’s pharmaceutical trade deficit is expected to widen to 13.4 billion dirhams by 2030 as drug imports continue to outpace exports, BMI, the Fitch Solutions research unit, said in a recent note.

The deficit rose to 10.3 billion dirhams last year from 9.2 billion dirhams, after imports jumped 17.4% to 11.9 billion dirhams.

Exports were largely unchanged at about 1.6 billion dirhams, rising just 1.2% in local currency terms.

BMI said the stronger-than-expected increase in imports prompted it to revise its outlook for Morocco’s pharmaceutical market.

Drug demand is expected to remain strong as health spending rises and Morocco works to improve access to medicines and address shortages.

The pharmaceutical market is forecast to grow 7.8% in 2026 to 38.6 billion dirhams, up from 35.8 billion dirhams in 2025. BMI expects the market to reach about 46.3 billion dirhams by 2030.

The government has also cut customs duties on medicines to improve access and ease shortages. Under the 2026 budget, duties on 112 essential medicines fell from 30% to 2.5%, while duties on 10 other products were partially reduced.

The changes followed shortages affecting more than 600 medicines in 2025, according to BMI.

But lower tariffs are also likely to keep imports high, adding pressure to the pharmaceutical trade balance.

Morocco is seeking to offset that pressure by expanding domestic production and the use of generic medicines.

The generic-drug market is forecast to reach 20.7 billion dirhams by 2030, growing at an annual rate of 6.3%.

BMI expects that expansion to eventually slow import growth but does not see it reversing the pharmaceutical trade deficit by 2030.

Public health spending is set to support demand with Morocco increasing its health budget by 30% for 2026 to 42.3 billion dirhams, the country’s highest level yet.

The higher budget is expected to boost public purchases of medicines while helping reduce shortages.

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