Morocco’s trade deficit stood at over 169.47 billion dirhams at the end of July 2023, down 6.5% on the same period a year earlier, according to the Exchange Office. Imports fell by 2.3% to more than 419.61 billion dirhams, while exports rose by 0.8% to 250.14 billion, the Office said in a document on the monthly foreign trade indicators for July.

It notes that the coverage rate rose by 1.8 points to 59.6%, compared with 57.8% a year earlier.

The fall in imports of goods was essentially due to lower purchases of energy products, semi-processed goods and raw materials, explains the Office.

Indeed, the energy bill fell by 20.9% to 69.38 billion dirhams at the end of July 2023, compared with 87.71 billion dirhams at the end of July 2022.

Source: Agency Morocaine De Presse