Xinhua, Rabat :
Morocco’s trade deficit climbed by 2.4 percent to 4.8 billion U.S. dollars during the first quarter of 2019, the Foreign Exchange Office said Thursday.
The rise in the deficit was driven by the 1.5-percent increase in imports, which amounted to 12.5 billion dollars, the office said.
Imports of wheat and raw materials increased by 8.5 and 1.1 percent, respectively in the first quarter, while energy products decreased by 1 percent.
At the same time, Morocco’s exports increased by 4.1 percent to reach nearly 7.7 billion dollars, but remained far less in value than imports.
The increase in exports was pushed by a hike of 20.5 percent in phosphate, 4.6 percent in aeronautics products, and 3.2 percent in agriculture products.
Morocco’s trade deficit climbed by 2.4 percent to 4.8 billion U.S. dollars during the first quarter of 2019, the Foreign Exchange Office said Thursday.
The rise in the deficit was driven by the 1.5-percent increase in imports, which amounted to 12.5 billion dollars, the office said.
Imports of wheat and raw materials increased by 8.5 and 1.1 percent, respectively in the first quarter, while energy products decreased by 1 percent.
At the same time, Morocco’s exports increased by 4.1 percent to reach nearly 7.7 billion dollars, but remained far less in value than imports.
The increase in exports was pushed by a hike of 20.5 percent in phosphate, 4.6 percent in aeronautics products, and 3.2 percent in agriculture products.
