This evolution is mainly due to the increase in exports of phosphate derivatives.
Rabat – Morocco’s exports of phosphate and its derived products have recorded an average annual growth rate of 7.8 percent over the last five years. Exports rose from MAD 38.3 billion in 2014 to MAD 51.7 billion in 2018.
The share of this sector in total exports grew for the third year (18.8 percent) after a decline between 2015 and 2016, according to a note by the Foreign Exchange Office on its monthly foreign trade indicators for the 2018 financial year.
This evolution is mainly due to the increase in exports of derivatives. In particular, exports of natural and chemical fertilizers rose from MAD 17.3 billion in 2014 to MAD 29.8 billion in 2018. Phosphoric acid exports rose from MAD 13.7 billion in 2018 to MAD 12.8 billion in 2014.
Phosphates exports remained largely stable, noted the office, with MAD 8.2 billion in 2018 compared to MAD 8.3 billion in 2014.