The Exchange Office revealed that Morocco’s trade deficit amounted to 116.5 billion dirhams in the first months of 2023, registering an increase of 1.7 percent, compared to the same period in 2022.
According to the monthly report issued by the Exchange Office, Moroccan imports, estimated at 301.4 billion dirhams, increased by 2.8 percent, which caused this trade deficit, while Moroccan exports amounted to 184.8 billion dirhams, an increase of 3.3 percent. 8 percent.
The same report indicated that the increased exports benefited from the increase in sales of the auto sector by 40 percent, and stated that “this benefit came” in the context of the decline in exports of phosphate and its derivatives by 34 percent.
As for processing materials, they increased by 20.2 percent, in addition to purchases of finished products destined for consumption by 14.2 percent and imports of food products by 6.6 percent.
For its part, purchases of energy products increased by 5.8 percent, after purchases of fuel and gas declined in a context characterized by lower prices and imported quantities.