Morocco's trade deficit worsens by 18.3% by end of august 2003

During the period January-August 2003, Morocco's trade deficit worsened by 18.3% as compared to the same period last year, the exchange office said.

The value of the country's overall trade exchanges amounted to 142.51 billion dirhams (nearly US $14.25 billion) by end of August, against 143 billion dirhams (nearly $14.34 Bln) in the same period last year, i.e. a 0.6% decrease, the office goes.

The increase of the trade deficit (5.05 billion dirhams/US $500 Million) is due to the 5.2% drop in exports, which regressed to 54.89 billion dirhams (nearly US $5.48 Bln) and a 2.4% increase in imports.

The major decreases affected sales of food products (-16.3%), energy products (-75.6%), unprocessed mineral products (-26.2%), while those of finished consumption goods, semi-products and animal and vegetal products registered a rise.

Imported goods increased significantly. In effect, equipment goods increased by 9.5%, semi-products by "9%, unprocessed products by 13.1%, industrial gold by 27.9% and consumption goods by 1.9%.