Morocco's trade deficit decreased year-on-year by 7.3 percent in 2023 to 286 billion dirhams ($28.6 billion), supported by revenues in the tourism sector, which jumped 11.7 percent year-on-year to 104 billion dirhams, in addition to a decline in the import bill.
The data showed that total imports fell 2.5 percent year-on-year to 715 billion dirhams, while exports rose 0.2 percent to 429 billion dirhams. Remittances from Moroccans abroad and exports from the automotive industry have also contributed to improving the trade deficit.
Remittances from Moroccans living abroad increased 4.0 percent year-on-year to an unprecedented 115 billion dirhams.
Source (CNBC Arabia Website, Edited)
