Morocco’s Trade Deficit Climbs 68%
Morocco’s trade deficit up to February climbed 68.3 percent to reach Dh6.75 billion (Dh=$0.08588), according to Upline Securities.
Imports stood at Dh20.15 billion (up 9.4 percent), exports reached Dh13.40 billion (down 7.0 percent), and the country's export/import coverage ratio was 66.5% (78.2 percent), said the firm.
Key factors in the import blow-out were cereals (+46.5 percent), textiles (+19.1 percent), and chemicals (+14.1 percent), while the top export performers were phosphates (+33.5) and textiles and leather (+3.9 percent), said the agency.
Seafood and agricultural exports were down 38.6 percent and 36.9 percent, respectively, while lower imports were recorded for crude oil (-13.4 percent) and transport materials (-21.5 percent), it added.
Tourism revenue was up 40.8 percent at Dh3.74 billion for the period, and expatriate remittances were up 27.4 percent to Dh4.27 billion – Albawaba.com
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