Morocco trade deficit falls 37.2 percent

17 Mar 2015

(MENAFN) Morocco’s trade deficit fell by 37.2 percent in the January and February period of 2015, compared to same period in 2014, due to lower energy imports as oil prices fell, Reuters reported.

The trade gap was USD2 billion down from USD3.19 billion at the end of February 2014. Energy imports fell 45.2 percent while total imports were down 15.2 percent.

Exports rose 8.2 percent, led by a 10.1 percent rise in auto exports and 20.4 percent hike in phosphate sales. Tourism receipts declined 8.2 percent, while remittances from the 4.5 million Moroccans living abroad rose 6.9 percent.

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