Morocco’s trade deficit has declined, according to data issued by the Exchange Office. The aforementioned office report said that Morocco’s trade deficit recorded a decrease of 7.6 percent.
The source explained that the deficit reached 261.3 billion dirhams at the end of November, compared to 282.8 billion dirhams in the same period last year due to a decrease in the energy bill, according to data from the exchange office.
According to the Exchange Office, the energy bill, including fuel imports, decreased by 21.4 percent on an annual basis to 110.9 billion dirhams, as a result of a decline in prices by 17.6 percent and imported volumes by 9.7 percent.
The same report indicated that the trade deficit resulted from imports worth 653.8 billion dirhams, recording a decrease of 3.3 percent, while exports amounted to 392.4 billion dirhams, a decrease of 0.3 percent.
Imports declined due to a decrease in purchases of energy products by 21.4 percent, to stabilize at 110.9 billion dirhams, as well as a decrease in purchases of semi-manufactured products by 11.3 percent, and raw products by 21.9 percent.
On the other hand, exports benefited from the increase in sales of the automobile sector, which rose by 30.2 percent, reaching 130.6 billion dirhams.
At the end of last November, exports of the electronics and electricity sector increased by 27.3 percent, jumping to 21.2 billion dirhams, at the same time, textile and clothing sales increased by 5.7 percent, to reach 43.18 billion dirhams.