As every month, the Exchange Office takes stock of Morocco’s trade with other countries, mainly European. Let’s see in detail what is exported by the kingdom.
In its note on monthly indicators, the Office reports a reduction in the trade deficit of 2.4% to 46.947 billion dirhams, against 48.087 billion dirhams a year earlier. This is explained by an increase in exports (+2.914 billion dirhams) larger than imports (+1.774 billion dirhams).
At the level of exports, they amounted to 74.24 billion dirhams against 71.326 billion dirhams, thanks to good performance of Phosphates and derivatives (+20.5%), Agriculture and agri-food (+3.2%) and Automotive (+1.6%).
As for the automotive sector, this increase comes from sales of cabling at 8.354 billion dirhams against 8.074 billion dirhams (+3.5% or 280 million dirhams). During the same period, sales of motor vehicles and those of vehicles and seats decreased by 1.5% and 3.3% respectively.
At the service level overall, exports declined by 4.3% while imports declined by 10.2%, according to the Office, which found that the trade balance for services generated a surplus in 3.6% increase.