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Each day TFO Canada publishes a sample of trade news on the Canadian import market along with any new, updated or changed regulations and legislations regarding international trade; countries in which TFO Canada offers services and on the export sectors which it promotes.

 

Morocco's trade deficit narrows 6 percent in 2014

Monday, January 19, 2015 > 09:56:24
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(Zawya)

Morocco's trade deficit narrowed by 6 percent year on year in 2014, data showed, reflecting lower energy imports as oil prices fell and exports surged.

The trade gap was 186.35 billion Moroccan dirham ($19.83 billion) with exports up 6.1 percent and imports down 0.2 percent, Rabat's foreign exchange regulator said on Friday.

Auto and electronics exports rose by 26.2 percent and 26 percent respectively. Energy imports declined by 10.1 percent and wheat imports increased by 51.2 percent after bad weather slashed the local harvest.

Tourism receipts declined 0.4 percent while remittances from the 4.5 million Moroccans living abroad rose 2.2 percent.

Figures are in billions of dirhams:

Jan-Dec Jan-Dec Jan-Nov

2014 2013 2014

EXPORTS 196.69 185.38 180.69 IMPORTS 383.05 383.72 350.69 BALANCE -186.35 -198.33 -170.00 MIGRANT REMITTANCES 59.13 57.86 54.05 TOURISM RECEIPTS 57.40 57.61 53.54 FOREIGN DIRECT INVESTMENT 28.45 27.72 26.08

($1 = 9.3969 Moroccan dirham)


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