Data issued by the Office of Exchange in Morocco showed that the trade deficit narrowed by 6.8 percent in the first half of 2023 to 138 billion dirhams ($14 billion), following a slight decline in imports.
Imports shrank 1.6 percent compared to the same period last year to 359 billion dirhams, outperforming exports, which amounted to 221 billion, which rose 1.9 percent. The proportion of exports covering imports increased to 61.6 percent in the first six months of this year, up from 59.4 percent in the same period last year. Morocco's energy imports amounted to 61 billion dirhams, down 14.8 percent, while the cost of wheat imports shrank slightly by 0.7 percent, to 45.7 billion dirhams.
Source (Al-Arabiya.net Website, Edited)
