Development News Edition
Give Feedback

Morocco's trade deficit rose 10.6 percent in January-March

Equipment imports rose 12.4 percent to 30.456 billion dirhams.


Devdiscourse News Desk 16 Apr 2018, 07:20 PM Morocco
Morocco's trade deficit rose 10.6 percent in January-March
  • Tourism revenues grew 20.2 percent to 15.184 billion dirhams from 12.634 billion last year. (Image Credit: Geograph)

Morocco's trade deficit rose 10.6 percent to 48.705 billion dirhams (USD 5.31 billion) in the first three months of 2018 compared to the same period a year earlier, the Moroccan exchange official said on Monday.

The gap widened from 44.022 billion dirhams between January and March last year, with imports rising 8.2 percent to 117.141 billion. This exceeded the 6.6 percent increase in exports to 68.436 billion dirhams from 64.192 billion.

Equipment imports rose 12.4 percent to 30.456 billion dirhams, while imports of finished goods rose 7.8 percent to 25.719 billion and food imports rose 14.3 percent to 12.526 billion dirhams.

Exports of phosphates and derivatives decreased by 752 million dirhams.

Tourism revenues grew 20.2 percent to 15.184 billion dirhams from 12.634 billion last year while remittances from Moroccans living abroad increased 13.5 percent to 16.020 billion.

Foreign direct investment fell 24 percent to 4.325 billion dirhams from 5.688 billion in the first three months of last year.

Earlier reported that Morocco is the most attractive economy for investment in the African continent, according to the Africa Investment Index 2018 Investment Index (AII) of Quantum Global Research Lab, Quantum Global's independent research division.

ALSO READ| Morocco holds first position in African investment destination

Doing business is "unique" in Morocco, said Quantum Global Research Lab's CEO, Mthuli Ncube, during the presentation of the IIA on Monday in Abidjan, on the sidelines of the 6th Africa CEO Forum, which was held on 26 and March 27 in the Ivorian economic capital.

(With inputs from Reuters)