Morocco’s trade deficit rises 35.8 pct

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Morocco’s trade deficit rose 35.8 percent to 4.14 billion US dollars in the first four months of 2017 compared with the same period a year ago, local media reported on Sunday.

The rise was mainly due to 10.9 percent hike in imports of equipments to four billion U.S. dollars, the news site Alyaoum24.com said.
The country’s energy import bill increased by 47.8 percent to 2.26 billion US dollars, it added.

On the other hand, exports increased by 3.2 percent from a year earlier to 11.5 billion dirhams, pushed mainly by a 11.5 percent rise in phosphate exports totaling 1.4 billion dirhams.

Tourism receipts fell by 4.7 percent, while remittances from the 4.5 million Moroccans expatriates fell 3.2 percent to 1.8 billion U.S. dollars.

During the first four months of the year, foreign direct investment rose 4.5 percent to 7.79 billion U.S. dollars.

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