Morocco’s foreign trade remains in double-digit growth. For the first two months of the year, Morocco’s exports have grown by 27.7%, reaching MAD 62.475 billion.
A similar dynamic was noted for Moroccan imports, which showed a jump of 37.8% to MAD 102.12 billion. The trade deficit widened by 57.2%, amounting to 39.65 billion.
Shipments of phosphates and derivatives have doubled over the same period to reach 14.21 billion, while the automobile industry accelerated its growth by 3.9% to MAD 15.3 billion, coming closer to phosphates. Significantly, the aerospace sector soared 52.9% to MAD 3.47 billion.
Phosphate sales and its derivatives have doubled this February 2022 compared to the same month last year, reaching MAD 14.21 billion compared to MAD 7.26 billion in 2021.
This significant growth in exports follows the increase in demand and sales of natural and chemical fertilizers, which rose by MAD 4.48 billion, and the tripling of global prices for such goods.
Prices for fertilizers have almost tripled this year, reaching MAD 7,214 per ton at the end of February 2022, against MAD 2,996 at the end of February 2021.
On the import side, and as expected, the energy and cereal bills explode, in light of the current shortage and import uncertainty, reaching 81.6% for the first and 96.8% for wheat.
However, capital goods recorded a growth of 18.5%, reaching nearly MAD 22.24 billion, at a time when the equipment credits were still in the red at the end of February, according to the Central Bank.
add your comment
Terms of publication : Not to offend the writer, people, sacred things, or attack religions or the divine self, and refrain from racist incitement and insults.