Morocco's Trade Deficit Narrows by 15.9% in February - Exchange Office

Morocco’s trade deficit narrowed by 15.9% by the end of February, 2021, compared to the same period in 2020, the Exchange Office has said.

The trade gap narrowed to 24.94 billion dirhams in February, the Office pointed out in a release.

The coverage rate of imports by exports has reached 66.5%, i.e. an improvement of 3.3 points, according to the same source.

The trade in goods at the end of February 2021 is characterized year on year by a drop in exports of MAD 1.2 billion or -2.5% less than that of imports (- MAD 6 billion or -7.4%).

Morocco’s energy bill decreased by 28.8% during the first months of the year while exports of the automotive sector increased by 4.1%, year on year, totaling MAD 15.74 billion.