The Central Bank of Morocco (BKAM) disclosed that the country's trade balance deficit rose by 8.6 percent amounting to 15.7 billion dirhams (about 1.64 billion dollars) in January compared to the same period last year.
The imports rose 7 percent to 39.5 billion dirhams, while the exports stood at 23.8 billion dirhams, up 5.9 percent. On the other hand, the FDI fell by 30.4 percent to 1.57 billion dirhams, and the remittances from Moroccans living abroad dropped by 9.2 percent to reach to 5.4 billion dirhams.
According to BKAM’s data, Morocco's foreign exchange reserves fell 3 percent year-on-year to 227.2 billion dirhams by February 22, which is enough to cover the imports for five months.
Source: (Economic Bulletin website, Edited)
