The trade deficit increased by 3.2% to 196.85 billion dirhams (billion dirhams) at the end of August 2024, compared to 190.79 billion dirhams the same period a year earlier, according to the Foreign Exchange Office.
This increase covers an increase in imports of goods of 4.6% to 491.95 billion dirhams and an increase in exports of 5.5% to 295.09 billion dirhams, specifies the Foreign Exchange Office in its recent bulletin on monthly indicators of foreign trade, adding that the coverage rate gained 0.6 points to 60%.
In detail, the evolution of imports is driven by the increase in finished equipment products by 10.9% to MAD 113.99 billion, semi-finished products by 8.1% to MAD 106.20 billion, finished products of consumption of 4.3% to 111.28 billion dirhams and food products by 1.7% to 61.14 billion dirhams, combined with the drop in particular in raw products (-4.7% to 21.45 billion dirhams) and energy products (-2.8% to MAD 77.39 billion).
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At the same time, the Foreign Exchange Office indicates that aeronautics exports increased by 21.2% to 17.42 billion dirhams, the largest increase, ahead of phosphates and derivatives (+11.7% to 53.50 billion dirhams). and automobiles (+7.6% to MAD 101.71 billion).
Exports of “electronics and electricity” and “agriculture and agri-food” were almost stable at 11.98 billion dirhams and 56.83 billion dirhams respectively, while those of “textiles and leather” fell by 0.7% to MAD 31.78 billion.
With MAP
