Morocco’s trade deficit grows by 7.8 during the first semester of 2018

Morocco’s trade deficit has grown by 7.8 percent, reaching 100.832 billion dirhams in the first semester of 2018 compared with the same period last year, reports Reuters Monday quoting the Moroccan foreign exchange regulator.

Imports grew by 9.9%, rising to 240.974 billion dirhams and exports increased by 11.4%, reaching 140.142 billion dirhams in the first half of 2018, says the same source.

Equipment imports rose to 59.181 billion dirhams during the same period. Consumer goods grew to 54.268 billion and energy imports reached 38.827 billion while food imports amounted 25.541 billion.

The automotive sector took the lead of the Kingdom’s exports, increasing by 19.1 (35.973 billion dirhams) followed by agriculture and agri-food exports which rose to 30.531 billion.

Phosphate exports reached 24.919 billion and tourism receipts increased by 15.5%, generating 31.293 billion dirhams. Meanwhile, remittances from Moroccans living abroad were up 8.5% to 31.951 billion dirhams.

Foreign direct investments grew by 33.1% to 10.071 billion dirhams during the first semester of 2018.