Morocco's trade deficit widens by 32.9% in Jan-March 2005

Morocco's trade deficit widened by 32.9% in the first quarter of 2005, according to the latest figures released by the exchange office.

In this period, says the source, exports were valued at some 20.8 billion MAD (One Euro is 11 MAD), compared to 22.26 billion in the first quarter of 2004, while imports climbed from 36.95 bln MAD in Q1 of 2004 to 40.33 bln MAD in the corresponding period of 2005.

As a result, the coverage rate of exports by imports dropped from 60.2% to 51.6%.

Despite a progression of exports of semi-finished products, crude mineral products and animal and vegetal non-processed goods, regression of imports was more considerable for consumption finished commodities, equipment items, foodstuffs and energy products.

Meanwhile, Morocco imported 51% more crude oil while non-oil imports were valued at 36.28 bln MAD as compared to 34.27 bln MAD in Jan-March 2005.