Morocco’s Trade Gap Widens by 8 Percent
Morocco's trade deficit in the first half of 2001 rose to 23.9 billion dirhams ($2.12 billion), up 8.1 percent from the same period last year, a senior official at the trade regulatory body said on Wednesday.
"Exports shrank 3.4 percent in value to 37.92 billion dirhams while imports inched up to 61.88 billion dirhams," the official from the state-run Office des Changes said, cited by the Gulf Daily News.
The drop in exports stemmed mainly from a 22.3 percent decrease in foodstuff exports, notably seafood, citrus and tomatoes, he said.
"The share of foodstuff goods from our total exports fell to 18.4 percent at the end of the first half from 22.9 percent a year earlier," he said.
Clothing and leather exports, however, rose by 7.6 percent to 14.74 billion dirhams and phosphates and by-products exports increased six percent to 6.18 billion dirhams, he added – Albawaba.com
© 2001 Al Bawaba (www.albawaba.com)