Morocco's trade balance deficit worsens by 39.8 %
Morocco, Economics, 8/30/2000

Morocco's trade balance deficit amounted during the first six months of year 2000 to some $2.26 billion worsening by 39.8 %, compared to the same period last year, according to the exchange office.

The deficit is imputed to a 14.8 % increase of imports at a time exports progressed only by 3.5 % amounting to $ 3.74 billion. The coverage rate of imports by exports has thus lost 6.8 points to reach by the end of June of the current year 62.3 % instead of 69.1 % the previous year.

Morocco's imports were worth $ 6 billion, the oil bill soaking 61.1 % of the amount with $780 million during these six months. Morocco's oil imports increased by 151.3 % in value and by 10.2 % in volume (3.8 million tons in first 2000 semester compared to 3.8 million tons in first semester of 1999).

Purchases of equipment goods dropped by 10.5 % going down from $1.5 billion at the end of June 1999 to $1.34 billion at the end of June 2000. Equipment goods share in Morocco's total imports totaled 22.3 % compared to 28.6 % the previous year.

The exports of phosphates and phosphoric acid dropped respectively by 11.3 % and 6.7 % while sales of natural and chemical fertilizers progressed by 7.1 %.

Exports of shellfish and fresh fish dropped respectively by 22.1 % and 5.6 % while exports of canned fish progressed by 15% ($99.2 million compared to $ 86.2 million during the first semester of 1999).

Agri-food products and agricultural products exports have also dropped while the sales of the sector of textile and leather have practically stagnated ($1.35 billion in 2000, compared to 1.34 in 1999).

Morocco's exports of electric and electronic products-- mainly electric wires and cables and semi-conductors-- have increased by 17.5 % totaling $330 million in 2000 ($280 million in 1999).

Previous Stories:
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  Morocco's trade deficit worsens   (7/19/2000)

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