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Trade News

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 January trade deficit narrows 25 pct

Monday, February 22, 2016 > 09:44:35
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(Reuters)

Morocco's trade deficit narrowed 25.3 percent to 7.36 billion dirhams ($752.8 million) in January compared with the same month last year, due to lower import costs, the foreign exchange regulator said on Friday.

Energy imports fell by 23.1 percent from last January to 3.37 billion dirhams, data showed. But wheat imports climbed 35.4 percent to 1.02 billion dirhams as late rains threaten this year's harvest. Overall, imports fell 8.4 percent.

Total exports rose by 0.7 percent from a year earlier to 18.32 billion dirhams.

Exports covered 71.3 percent of imports for the first time in more than a decade, data showed.

Tourism receipts dropped 4.5 percent to 3.8 billion dirhams, while remittances from the 4.5 million Moroccans living abroad fell 0.9 percent to 4.86 billion dirhams.


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