(MENAFN) On Monday, May. 3 Morocco’s foreign exchange regulator stated that the country’s trade shortfall declined in the first three months of this year by 11.2 percent annually to more than USD5.05 billion.
The country’s imports rose by 2.6 percent, reaching USD13.75 billion in the January-March period of 2021, whereas exports rose by 12.7 percent to USD8.7 billion.
It noted that the climb in imports is because of rises in raw materials of 11.6 percent and apparatus of 9 percent.
The report further said that the rise in exports was driven by rises of 21.7 percent in phosphate, 12.7 percent in textile produce and 38 percent in vehicle industry products.
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