Moroccan foreign trade ups by 11.5%

Moroccan exports increased by 11.5% during the first half of 2002 with 43.52 billion Dirhams (US$ 4.3 million), in comparison with 39.03 billion Dirhams (US$ 3.9 million) during the same period last year.

The boom of phosphates, semi-manufactured products, food, equipment finished products and raw mineral, animal and vegetal products exports contributed most significantly to the rise, the exchange office said.

As imports decreased during the same period (-2.5%), the exports rise helped relieve the deficit of the Moroccan commercial balance which came down to 17.83 billion Dirhams (US1.7 million) by end of June 2002, in comparison with 23.88 billion Dirhams, end of the first half of 2001.