Global Arab Network | Morocco: 28 % increase in exports mainly phosphates

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Morocco: 28 % increase in exports mainly phosphates

Global Arab Network - - Asmaa Malik

Wednesday, 06 April 2011 01:41

Morocco 28 % increase in exports mainly phosphates

Rabat - Moroccan merchandise exports reached at the end of last February about 26.2 billion dirhams (MMDH), recording an increase of 28% from the same period in 2010, reported Morocco's exchange rate monitoring body "Offices des Changes".

This increase is due to both exports of phosphates and derivatives that reached 19.7 billion dirhams, up 17.5%, as sales of phosphates and derivatives achieved 6.5 billion dirhams at the end of February 2011, explained the Office des Changes in its monthly indicators of the foreign trade.

Exports of natural and chemical fertilizers have reached 2.9 billion dirhams compared to 1.1 billion dirhams a year earlier.

Other groups of products, including foreign sales, that rose last February are finished products (+40.2%), raw materials (+39.1%) and finished consumer products (+13%).

Conversely, food products exports have declined by 10.2%.

Imports of goods, reached at the end of February 2011, approximately 51.8 billion dirhams, a 30.5% year-on-year increase.

The Office des Changes said this increase is primarily due to the recorded rise in non-oil acquisitions (+27.8% to 47 billion dirhams) and to a lesser extent on imports of oil (4.7 billion dirhams).

The trade balance showed a deficit of 25.5 billion dirhams over the first two months of 2011, compared to 19.1 billion dirhams trade deficit a year earlier. (MAP)

Global Arab Network

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