Morocco's trade deficit alleviated by 27.9%

Morocco's trade deficit between January and May 2002 was worth 13.79 billion DH (US 1.3 billion), a decrease of 27.9% compared to the same period of 2001.

According to the exchange office which released the figures, the alleviation is due to a 12.8% increase of exports and a 2.2% decrease of imports.

The value of exports progressed from 32.6 billion DH (US$ 3.1 billion) in January-May 2001 to 36.81 billion DH (US$ 3.5 billion) in the corresponding period of 2002. Meanwhile, imports were worth 50.6 billion DH (US$ 4.8 billion), as compared to 51.76 billion DH in 2001 (US$ 4.9 billion).

Consequently the rate of imports coverage by exports reached 72.7% by end of May 2002, compared to 63% in the same period of 2001.