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Morocco reports 10.7 percent hike in trade deficit
(MENAFN) Morocco was found to have seen its trade deficit widen by 10.7, reaching USD8.53 billion during the period from January to May this year.
According to data released by the foreign exchange regulator, the increase was recorded as a result of a rise in imports by 9.7 percent, reaching USD20.2 billion.
It was also driven by a 25.9 percent boost in raw materials imports as well as a 13.4 percent rise in equipment imports and a 12.5 percent increase in energy bill.
The import boost also outstripped an 8.9 percent increase in exports, which stood at USD10.71 billion.
According to data released by the foreign exchange regulator, the increase was recorded as a result of a rise in imports by 9.7 percent, reaching USD20.2 billion.
It was also driven by a 25.9 percent boost in raw materials imports as well as a 13.4 percent rise in equipment imports and a 12.5 percent increase in energy bill.
The import boost also outstripped an 8.9 percent increase in exports, which stood at USD10.71 billion.
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