Morocco's foreign trade increases by 5.4% in 1999
Morocco, Economics, 3/7/2000

Morocco's foreign trade increased by 5.4% in 1999, going up from $16.7 billion (167.2 billion DH) in 1998 to $17.62 billion (176.6 billion DH) in 1999, says the exchange office.

The office explains that both imports and exports rose, as Morocco's imports progressed by 5.5% between 1998 and 1999 while exports progressed by 5.1% in the same period.

The value of imports went up from $9.8 billion in 98 to $10.4 billion in 99 while exports reached $7.2 billion from $6.8 billion. This entailed a larger deficit in the trade balance valued at $3.2 billion, which is 6.5% higher than in 1998.

Products that increased the value of Morocco's imports are equipment goods ($2.7 billion against $2.4 billion), oil which cost Morocco in 1999 some $900 million in comparison with $ 540 million, consumption products (from $2.3 billion to 2.4 billion).

Regarding exports, the exchange office says they were shored up by the sale of phosphates and byproducts ($1.32 billion in 99 for $1.25 billion in 98). Textile and leather items which hold an important share in Moroccan exports (39.4%) stagnated at around $2.69 billion to account for 37.4% of exports.

Stagnation also affected exports of agricultural produce ($500 million) due to a 10% regression in the sale of citrus fruits, while exports of potatoes rocketed from $12.5 million to $30.16 million). Other products, like electric and electronic devises posted a remarkable progression ($450 million against $350 million) and agro-food products which progressed from $ 180 million to $200 million while sea products regressed by 5% from $730 million to $690 million last year. Meanwhile, fish exports improved by 3.1% in the same period.

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