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FINANCIAL NEWS
Morocco’s trade deficit grows by 6.1 percent
18 May 2016
(MENAFN) Morocco’s trade deficit jumped to 6.1 percent to reach USD 5.5bn in the Jan-April period of this year compared to the same period of 2015 due to higher imports.
Moreover, wheat imports grew as bad weather affected the regional harvest this year, as of which imports were 10.6 percent up from a year earlier.
In addition, whole exports increased 3 percent from a year earlier to USD 7.93bn, driven by a 15 percent rise in auto exports.
On the other hand, tourism receipts grew by 6.2 percent, while remittances from the 4.5mn Moroccans living abroad were 4 percent up to USD 2.0bn.
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