Fri, 02 Jun 2023

Morocco's trade deficit up 56.5 pct in 2022

03 Feb 2023, 02:05 GMT+10

RABAT, Feb. 2 (Xinhua) -- Morocco's trade deficit increased by 56.5 percent year-on-year to 32.12 billion U.S. dollars in 2022, the kingdom's Foreign Exchange Office said in a report on Thursday.

Morocco's imports increased by 39.6 percent year-on-year to 76.1 billion dollars, while its exports reached 43.93 billion dollars, up by 29.4 percent, it said.

The energy imports more than doubled to reach 15.8 billion dollars, while imports of semi-products increased by 46.4 percent, the report said.

The foreign direct investments in Morocco increased by 8.3 percent to 2.4 billion dollars in 2022, while remittances from the Moroccan community abroad have reached 11.3 billion dollars, up 16.5 percent, the report said.

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