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Tuesday, April 23, 2024

Morocco’s Trade Deficit Widens by 42.9% in March

Morocco’s trade deficit widened by 42.9% by the end of March 2022 compared to the same period in 2021, the Exchange Control Office has said.

Morocco’s trade gap widened to 65.57 billion dirhams in March, the source pointed out in a release, noting that the coverage rate of imports by exports has reached 60.4%.

Exports amounted to 99.98 billion Dirhams (+ 29%), while imports rose by 34.1% to 165.55 billion Dirhams, according to the same source.

The rise in imports is due to higher prices of energy products (+ 87.3%) and food products (+ 24.3%).

According to the Exchange Control Office, exports of the aeronautics industry increased by 53%, while those of the automotive sector rose by 6.9%.

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