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Morocco’s trade deficit reduced for third year

Staff writer |
Morocco’s trade deficit declined in 2015 for the third consecutive year. According to the Ministry of Finance, the deficit decreased 18.6% over 2014 and stood at MAD 152.4 billion ($15.5 billion).

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The performance was the result of an increase in exports and decrease of imports. External sales totaled MAD 214.1 billion ($21.8 billion), an increase of 6.6% over 2014. Purchases declined 5.6% in the same comparison and stood at MAD 366.5 billion ($37.3 billion).

In a report, the Ministry of Finance pointed out especially to the improvement in sales by the state-owned company OCP, from the fertilizers sector. Other highlights were exports by the auto, food and aeronautical industries. However, shipments of the electronics, fabrics and hide sectors declined.

On the other hand, there was a decline specially with spending regarding oil and by-products imports – due to the fall of the prices of the commodity – food, especially wheat, due to a record-breaking domestic crop.

However, there was an increase in external purchases of capital goods, semi-finished and basic products and consumer goods.

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