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Rabat – The deficit increase is due to a larger rise of imports over exports, up MAD 35.36 billion, and MAD 22.08 billion, respectively. Morocco’s debt-service coverage ratio was 57.2 percent in the period, compared with 56.7 percent in the previous year.
The Foreign Exchange Office (FEO) reported the figures in its monthly foreign trade indicators for November 2018.
Morocco’s increase in imports was mainly driven by the purchases of energy products, up 18.4 percent to MAD 18.4 billion; purchases of processing goods, up 7.8 percent to MAD 7.8 billion; and finished consumer products, up 7.1 percent to MAD 6.5 billion.
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The three import categories represent 73.3 percent of the total increase in imports.
Exports also increased by 9.7 percent to MAD 249.04 billion in the first 11 months of 2018. The rise can be attributed to increased exports in all sectors, but particularly that of automotive, up by MAD 5.73 billion, phosphates and derivatives, up MAD 5.3 billion; and agriculture and food, up MAD 3.06 billion.
The FEO pointed out that the three export categories represent 63.8 percent of the total increase in exports, noting that the aviation, textile and leather sectors, recorded an increase of 1.46 percent and 1.36 percent, respectively.
Morocco’s FDI Reaches MAD 31.82 Billion
Morocco’s Foreign Direct Investments reached MAD 31,82 billion in 2018, up 36.7 percent compared to the same period a year earlier.
This performance is attributed to an incline of revenues to reach MAD 11.48 billion, and expenditures increasing by 2.93 percent, said the Foreign Exchange Office which has published its preliminary indicators.
Remittance from Moroccans living abroad decreased by 1.7 percent, reaching MAD 59.65 billion at the end of November 2018.
The travel balance recorded a decrease of 1.8 percent, reaching MAD 49.7 billion between January and November 2018, compared to MAD 50.62 billion during the same period of 2017.
