Morocco's commercial exchanges with major partners totaled over $ 20 billion in 2002

Morocco's commercial exchanges with major partners of the European Union, the Gulf and Asia totaled 214,9 milliards DH in 2002, roughly US$ 21.49 billion, said the governmental Exchange Office.

Only seven countries, including five from the European Union accounted for 57 percent of these exchanges, the Office said.

France top Morocco's partners with 23,7 percent of the exchanges, followed by Spain (12,7 percent), The United Kingdom (5,9 percent), Italy (5,5 percent), Germany (4,2 percent), the United States (3,4 percent) and Japan (2,4 percent).

Saudi Arabia -- Morocco's third supplier with 5,9 percent - soaked only 0,6 percent of Morocco's exportations.

Tourism earned the Moroccan treasury 24,7 billion dirhams, nearly US$ 2.47 billion in 2002 while the remittances of Moroccan nationals living abroad stood at 35,5 billion dirhams, approximately US$ 3.55 billion, posting respectively a 22.9 and a 52,9 percent rise compared to the average recorded over the past five years.

Foreign private investments and loans recorded a sharp decline of 81,3 percent in 2002 compared to the previous year, to stand at 6.2 billion dirhams, US$ 620 million.