Rabat - By the end of August 2018, Morocco’s trade deficit year-to-date had increased to MAD 77.8 billion, up from MAD 69.1 billion in the same period of 2017.
Rabat – By the end of August 2018, Morocco’s trade deficit year-to-date had increased to MAD 77.8 billion, up from MAD 69.1 billion in the same period of 2017.
The trade deficit growth is due to rises in both exports and imports, up by MAD 29.6 billion, and MAD 20.9 billion, respectively.
Imports increased by 9.4 percent to MAD 345 billion, due to imported goods (MAD 27.2 billion), especially equipment goods and energy products.
The rise in exports is mainly due to exports of goods (MAD 16.79 billion). Aeronautics grew 26.9 percent, automotive sales grew 17.8 percent, phosphates and their derivatives 17.2 percent, and agriculture and food 5.6 percent. The texture and leather sector saw a 3.3 percent rise.
Over the same period, remittances from Moroccans living abroad increased by 1 percent to MAD 44.96 billion.
In the first eight months of August 2018, foreign direct investments (FDI) had decreased by 8.6 percent to MAD 16.5 billion, in comparison to 18.1 billion during the same period in 2017.
Over the same period, reserves from foreign currency totaled MAD 225.8 billion, down from MAD 240.9 billion a year before.