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02/03/2018 - 18:25hs

Morocco’s trade deficit narrows by 6.6%

The country registered a trade deficit of USD 980 million in January. The country’s exports outgrew imports in the month.

Rabat – Morocco posted a trade deficit of MAD 9.1 billion (USD 979.7 million) in January, a decline of 6.6% over the same month of last year, according to data from the country’s Foreign Exchange Office. The information was published this Friday (2) by news outlet Maghreb Arabe Presse (MAP)..

Imports totaled MAD 39.9 billion (USD 4.3 billion), up 5.3% over January 2017, while exports totaled MAD 30.8 billion (USD 3.3 billion), up 9.5% in the same comparison.

According to MAP, there was an increase in imports of food products and of products from the energy sector (oil, gas and products), and a decline in imports of basic and capital goods.

On the other hand, there was an increase in exports of phosphates and products (fertilizers), of items from the aerospace industry, of items from the auto industry, of pharmaceuticals, of textiles and of skins and hides.

The Foreign Exchange Office reported also that foreign direct investments in Morocco reached MAD 1.8 billion (USD 193.8 million) in January, up 19.5% over the same month of last year.

*Translated by Sérgio Kakitani

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