Casablanca - Morocco's foreign trade data gathered at the end of January 2017 revealed that capital goods imports jumped by 8.9% vs. February 2016, (i.e. by MAD 5,318m) to stand at MAD 64,856m.
Casablanca – Morocco’s foreign trade data gathered at the end of January 2017 revealed that capital goods imports jumped by 8.9% vs. February 2016, (i.e. by MAD 5,318m) to stand at MAD 64,856m.
On the other hand, exports of capital goods mildly increased by 1.5% during the same period to stand at MAD 38,140m. Henceforth, the trade deficit widened by 21.7% to -MAD 26,716m.
Imports increase is attributable to higher purchases of energy products which increased by MAD 3,613m, and mainly gas-oils and fuel-oils purchases which increased by MAD 2,221m.
Excluding the energy bill, imports would have increased by only 3.2% or MAD 1,705m driven by equipment imports which increased by MAD 1,975m as well as raw products imports which rose by MAD 544m and finished consumer products which also rose by MAD 135m. On the contrary, food products imports slid by MAD 920m.
As far as exports are concerned, they mildly increased by 1.5% to MAD 38,140m. This increase was driven by higher phosphate and phosphate derivatives exports which stood at MAD 5,569m vs. MAD 5,075m a year before, as well as an increase of electronics shipments by MAD 85m and higher exports in the aeronautics sector which rose by MAD 78m.
Henceforth, the aforementioned figures represent a cover rate (imports/exports) of around 58.8% vs. 63.1% a year ago.
Regarding financial flows, fund transfers of Moroccan expatriates slid by 3.1% to MAD 8,814m, and so did travel receipts which plunged by 4.4% to MAD 342m.
Finally, foreign direct investment flows (FDIs) plummeted by 25.7% to MAD 3,087m.