Morocco among most resilient economies in Allianz Trade 2025 global risk atlas

Morocco emerges as one of the most resilient economies in the Africa–Middle East region, according to Allianz Trade’s Atlas sectoriel 2025, despite global trade disruptions driven by new US tariffs. The report finds that the Kingdom maintains a balanced risk profile, with four sectors, pharmaceuticals, agrifood, IT services and telecommunications, rated at low risk. Ten industries, including automotive, chemicals, energy, retail and electronics, are classified as medium risk, while four, construction, transport, textiles and metals, fall into the sensitive category. Crucially, no Moroccan sector is considered high risk, a contrast with Algeria, which has nine sectors rated sensitive, and South Africa, where four are high risk and seven sensitive. Allianz Trade underscores that Morocco’s resilience reflects its diversified economic base and relative stability compared with regional peers. However, the Kingdom remains exposed to global market turbulence, particularly in sectors linked to international demand and commodity cycles. Worldwide, the atlas reveals that sector risks are tilted toward caution, with 45% of ratings at medium risk and 43% at sensitive. Only 9% of sectors are categorized as low risk, down sharply from 15% before the pandemic. Regional disparities are notable, with Asia deemed the safest and Latin America the most exposed, while Central and Eastern Europe remain under pressure. Global ratings deteriorated further in Q2 2025, especially in the automotive industry, weighed down by tariffs, weak demand and heightened competition. Agrifood, electronics, machinery, metals and pharmaceuticals were also downgraded, though some improvements were noted in transport equipment and IT services. The study points to structural challenges across industries: agrifood grappling with climate volatility, electronics boosted by AI but caught in US-China rivalry, and energy navigating a delicate transition between fossil fuels and renewables. Allianz Trade also highlights transatlantic divergence, with US corporate profits surging 12% in Q2 2025 while European growth slowed to 4.3%, constrained by a strong euro and tariff impacts.

Morocco among most resilient economies in Allianz Trade 2025 global risk atlas

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