Morocco’s trade deficit grows in 2018, according to foreign exchange regulator

Morocco’s trade deficit grew by 8 percent to 204 billion dirhams, reports Reuters Tuesday quoting foreign exchange regulator.

The percentage is bigger than the one registered last year, the same source said, adding that imports reached 9.3 percent (478.7 billion dirhams) while exports generated 274.2 billion dirhams.

Energy import bill rose by 18.4 percent to 82.3 billion dirhams and exports in the automotive sector generated 60 billion dirhams.

Phosphate sales, on the other hand, grew by 17 percent to 51.7 billion dirhams. «Remittances from Moroccans living abroad dropped 1.7 percent to 64.8 billion dirhams, while tourism receipts grew 1.4 percent to 73.2 billion dirhams», explains the British news agency.

Meanwhile, foreign direct investments increased by 18.6 percent, generating 33.5 billion dirhams.