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Rabat – Morocco’s foreign trade has increased by 7.6 percent while FDI has decreased by 29.7 percent.
In its report on monthly indicators of foreign exchange for June 2018, the office of exchange noted that the average annual growth rate of foreign trade was 5.9 percent between 2007 and 2017.
Foreign trade in 2017 grew remarkably by 7.6 percent to reach MAD 685 billion against MAD 636.2 billion in 2016.
Imports in the first half of 2018 slightly increased by 6.5 percent compared to 10.3 percent growth in the same period in 2016.
Exports in the first half of 2018 grew notably by 10.1 percent against 3.5 percent in the same period in 2016.
Read also: Report: Morocco’s Deficit to Decrease over Next Decade
The note shows that Morocco’s trade deficit in 2017 reached MAD 188.8 billion more in exports than imports, up by 1.02 percent against MAD 184.9 billion a year earlier. The trade deficit figures represents 17.9 percent of GDP compared to 18.2 percent in 2016.
In the first six months of 2018, foreign direct investment (FDI) netted MAD 10.6 billion, down by 29.7 percent during the same period last year. The drop is due to the increase in expenses, reaching MAD 1.6 billion, and a decrease in revenues, reaching MAD 2.9 billion.
Remittances from Moroccans living abroad in the first half of 2018 increased by 8.6 percent, reaching MAD 31.9 billion, against 29.4 billion in the same period last year.
