Morocco's trade deficit worsens by 39.8% in 2000
Morocco, Economics, 3/10/2001

Morocco's trade balance recorded in 2000 a deficit valued at 45 billion DH (US$ 4.28 billion), which is 39.8 % higher than in 1999.

The Exchange office says Morocco's imports reached in 2000 US$ 11.52 Bln, increasing by 14.3 % compared to the previous year. Exports only progressed by 3.1% to reach US$ 7.22 bln in 2000.

The rate of coverage of imports by exports, consequently lost 6.8 points, from 69.5% to 62.7%.

Moroccan imports were still dominated by crude oil, accounting for 64.5% in 2000 and contributing by 38.1% in the general increase in imports.

Except for imports of equipment goods which dropped by 8.9%, all other imports were higher (energy products by 64.8%; foodstuffs by 21.7%, consumption goods by 17.5% and semi-finished products by 7.9%).

Meanwhile, sales of semi-products progressed by 22.6%, finished consumption goods by 3.5% and energy products by 49.1%. Exports of finished equipment products and food stuffs declined respectively by 29.8% and 5.9%.

Sales by state owned phosphates group (OCP) which normally make the bulk of exports were stable around US$ 1.26 billion while the share of phosphates and by-products in exports regressed from 18.1% in 1999 to 17.6% in 2000.

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