Morocco’s trade deficit dropped to 61.9 billlion dirhams, down 14.6%, thanks to higher exports and lower imports, the foreign exchange office said. Morocco’s automotive sector topped exports with 38.8 billion dirhams, up 13%, offsetting a 2.3% drop in phosphates exports at 17.6 billion dirhams. Morocco’s energy imports dropped in value by 13.6% to 28 billion dirhams, although they upticked slightly in volume. Despite an increase in arrivals, tourism revenue fell 5.1% to 23.7 billion dirhams, while remittances from Moroccans abroad remained almost stable at 27.4 billion dirhams.

Source: The North Africa Journal May 04, 2024 11:56 UTC