Morocco’s trade deficit narrowed by 1% from January to May to 117 billion dirhams ($11.7 bln), after exports rose to 191 billion dirhams, but still less than imports at 308 billion dirhams. The automotive sector topped Morocco’s exports at 67 billion dirhams, up 12%, auguring well for another record exports this year. Despite a drop in phosphoric acid earnings, Morocco’s exports of fertilizers and phosphates improved to 32 billion dirhams, up 5.2%. Morocco, which imports most of its energy products, reported a drop in energy imports by 5.2% to 49 billion dirhams. Tourism receipts were at a similar level at 41 billion dirhams, up 1.6%.

Source: The North Africa Journal July 03, 2024 12:39 UTC