Xinhuanet
Source: Xinhua
Morocco’s trade deficit increased by 19.2 percent by February compared with the year before, reaching 5.2 billion U.S. dollars, according to data released by the foreign exchange regulator on Tuesday.
The rise in the deficit was driven by a hike in imports by 12.5 percent to nearly 75 billion U.S. dollars from 66.5 billion dollars in February 2017, according to exchange regulator statistics.
The hike was due to a 19.9-percent increase in energy bills and 13.9-percent rise in equipment imports, the same source pointed out.
Total exports rose by 8 percent year on year, but stood at only 42.7 billion dollars, pushed by the rise of 15.5 percent in car industry and 2.5 percent in agriculture exports, the exchange regulator said.
