Morocco's trade deficit widened by 17.9% by the end of July 2021 compared to the same period in 2020, the Exchange Control Office has said.
Morocco’s trade gap widened to 117.38 billion dirhams in July, the source pointed out in a release, noting that the coverage rate of imports by exports has reached 59.8%. Exports amounted to 174.38 billion Dirhams (+ 23.2%), while imports rose by 21% to 291.76 billion Dirhams, according to the same source.
The rise in imports is due to higher prices of energy products (+ 25.9%) and capital goods (+ 13.3%). According to the Exchange Control Office, exports of the pharmaceutical industry increased by 27.4%, while those of the automotive sector rose by 38%.
