Morocco's Trade deficit stabilizes at MAD 72.62 Billion in March 2023, exchange office

Morocco’s trade deficit remained stable at the equivalent of MAD 72.62 billion at the end of March 2023, representing a 13.5 percent increase compared to the same period last year, according to a report by the exchange office.

The report highlighted a 10.1 percent increase in imports, which reached over MAD 182.17 billion, and an 8 percent rise in exports, which amounted to the equivalent of MAD 109.54 billion. The coverage rate reached 60.1 percent, compared to 61.3 percent in the previous year.

The report also stated that most categories of imported products showed an increase, with equipment goods leading the way, rising by 22 percent to reach MAD 38.87 billion.

Imports of consumer products also increased by 15.1 percent, mainly driven by the import of passenger car parts and parts, which rose by 46.2 percent. Meanwhile, the export of commodities increased, affecting most sectors, particularly the automobile, electronics, electricity, textile and leather sectors.