Morocco’s Trade Deficit Widens by 2.3% in November

Rabat - Morocco's trade deficit widened by 2.3% by the end of November 2019, the Exchange Control Office said.

Morocco’s trade gap widened to 191.81 billion dirhams by the end of November 2019, the source pointed out in a release, noting that the coverage rate of imports by exports remained stable at 57.4%.

Imports amounted to 450.257 billion Dirhams (+ 2.7%), while exports rose by 2.9% to 258.443 billion Dirhams, according to the same source. The increase in imports is due to higher prices of capital goods (+ 8%) and semi-finished products (+ 5%).

According to the Exchange Control Office, exports of the aeronautical sector increased by 7.7%, while those of the automotive industry grew by 5.4%.