Morocco’s trade deficit reached MAD164.17 billion during the first ten months of this year, up by 26.6% compared to the end of October 2020, according to the Exchange Office.
It is a result of an increase in imports amounted to 424.32 billion dirhams (+22.9%), higher than exports which reached MAD260.15 billion (+20.7%), explained the Office in its monthly indicators of foreign trade, adding that the rate of coverage stood at 61.3%.
Compared to the end of October 2019, the period before the coronavirus pandemic crisis, exports rose by 9.4% (MAD22.1 billion) and imports by 3.3%, added the Office.
The increase in imports of goods follows the increase in purchases of commodities, mainly finished consumer products (MAD+24.43 billion ), energy products (MAD+17.74 billion), and semi-products (MAD+17.46 billion).
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