Morocco s trade deficit up due to hike in imports
Wednesday - March 21, 2018 8:56 pm ,
Category : BUSINESS
Rabat March 21 (IANS/MAP) Morocco s trade deficit increased by 19.2 per cent in February compared with the year before reaching $5.2 billion according to data released by the foreign exchange regulator.
The data released on Tuesday said that the rise in the deficit was driven by a hike in imports by 12.5 per cent to nearly $75 billion from $66.5 billion in February 2017 according to exchange regulator statistics.
The hike was due to a 19.9-per cent increase in energy bills and 13.9-per cent rise in equipment imports.
Total exports rose by 8 per cent year on year but stood at only $42.7 billion pushed by the rise of 15.5 per cent in car industry and 2.5 per cent in agriculture exports the exchange regulator said.
--IANS/MAP
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