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Morocco's trade deficit rose by 8% reaching 118.3 billion dirhams ($12.3 billion) at the end of July, despite an 11.2% rise in exports versus a 9.8% rise in imports.
The value of Moroccan exports rose to 159.97 billion dirhams (17 billion dollars) at the end of July, compared to 143.91 billion dirhams (15.3 billion dollars) during the same period last year. While the value of imports during this period amounted to 278.28 billion dirhams (29.6 billion dollars). Thus, the ratio of imports to exports reached 57.5 %, compared to 56.79 % during the same period last year.
Exports of the automotive industry and phosphate and its derivatives accounted for most of the growth in value of Moroccan exports. Exports of cars reached 38.52 billion dirhams (4.1 billion dollars), up by 16.9 percent, while exports of phosphate and its derivatives reached about 29.23 billion dirhams (3.11 billion dollars), recording a 15% rise.
Source: (Asharq Al-Awsat, Edited)