Morocco's foreign exchange regulator Office (Office des Changes) revealed that the annual trade deficit increased by 5.2 percent to 250 billion dirhams ($25 billion) in the first ten months of the year. Imports grew 5.8 percent from a year earlier to 623 billion dirhams, surpassing exports of 373 billion dirhams, up 6.2 percent.
Remittances to Moroccans abroad, a major source of hard currency inflows, grew by 3.9 percent to 100 billion dirhams. Tourism revenues rose 9.3 percent to Dh97 billion, showing that both sectors are heading for a new record this year. Foreign direct investment amounted to 33.3 billion dirhams, up 23.7 percent.
Source (Al-Arabiya.net Website, Edited)
