Morocco's trade deficit up 2.6 pct in 2017
Xinhua,January 16, 2018 Adjust font size:
RABAT, Jan. 16 (Xinhua) -- Morocco's trade deficit increased 2.6 percent in 2017 compared with a year before, reaching a total of 20.53 billion U.S. dollars, according to data released by the foreign exchange regulator on Tuesday.
The rise in the deficit was driven by a hike in imports by 6.3 percent to more than 47 billion dollars from 44.23 dollars in 2016, according to exchange regulator statistics.
The hike was due to 27.3-percent increase in energy bills, 3.8-percent rise in equipment imports, 5.1-percent increase in industrial goods, the same source pointed out.
Total exports rose 9.3 percent year on year, but stood at only 26.5 billion dollars, pushed by the rise of 11.1 percent in phosphate exports, and 7.6 percent in agriculture exports, the exchange regulator said. Enditem