RABAT (MOROCCO) (ITALPRESS) – Morocco’s trade deficit increased by 25.4% to $29 billion (282.6 billion dirhams) in the first eight months of the year. The Office des Changes disclosed the figures in its monthly report published today by media outlets in Rabat, citing an increase in energy and sulfur imports. Imports rose 15.8% year-on-year to $63.8 billion (617.5 billion dirhams), while exports increased by 8.7% to $34.6 billion (334.8 billion dirhams).
Energy imports rose by 32.6% to $9.9 billion (96.3 billion dirhams), driven by higher diesel and fuel oil prices. Wheat imports, meanwhile, fell by 18.4% to $960 million (9.3 billion dirhams) thanks to an improved domestic harvest. The automotive sector, which includes Stellantis and Renault plants, remained the main driver of exports, reaching $11.9 billion (116 billion dirhams), up 14.5%.
Morocco, which holds the world’s largest phosphate reserves, recorded a 6% decline in exports of the mineral and its derivatives, including fertilizers, which fell to $6.3 billion (61 billion dirhams). Imports of sulfur, a key component in fertilizers, nearly tripled to $2.8 billion (27.2 billion dirhams). Remittances from Moroccans living abroad increased by 9% to $9.9 billion (89 billion dirhams). Tourism revenues rose by 9.7% to $10 billion (97 billion dirhams), while foreign direct investment reached $4.8 billion (47.3 billion dirhams), up 17%.
– IPA Agency Photo –
(ITALPRESS).
