Morocco’s trade deficit grows 10.6% in Q1

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Morocco’s trade deficit grew 10.6 percent to MAD48.705 billion ($5.31 billion) in the first three months of 2018 compared with same period a year earlier, the foreign exchange regulator said on Monday.

The gap widened from MAD44.022 billion in January-March last year, as imports rose 8.2 percent to MAD117.141 billion. That outstripped a 6.6 percent increase in total exports to MAD68.436 billion from MAD64.192 billion.

There was a 12.4 percent rise in equipment imports to MAD30.456 billion, a 7.8 percent increase in finished consumer goods to MAD25.719 billion, and a MAD14.3 percent rise in food imports to MAD12.526 billion.

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Exports of phosphates and derivatives fell by MAD752 million.

Tourism receipts grew 20.2 percent to MAD15.184 billion from MAD12.634 billion last year, while remittances from Moroccans living abroad posted a 13.5 percent increase to MAD16.020 billion.

Foreign direct investments fell by 24 percent to MAD4.325 billion, down from 5.688 billion in first three months of last year.

Agency Report