Morocco’s Trade Deficit Narrows by 12% in May

Morocco’s trade deficit narrowed by 12% by the end of May, 2020, compared to the same period in 2019, the Exchange Control Office has said.

Morocco’s trade gap narrowed to 73.7 billion dirhams in May, the source pointed out in a release, noting that the coverage rate of imports by exports has reached 57.8%.

Imports amounted to 174.584 billion Dirhams (- 16.9%), while exports decreased by 20.1% to 100.883 billion Dirhams, according to the same source.

The decrease in imports is due to lower prices of energy products (- 28.8%) and capital goods (- 19.8%).