Morocco trade deficit declines to USD18b

(MENAFN) Morocco's trade deficit has reached USD18 billion during the January-October period of this year, which is a decline by 5.6 percent compared to the same period last year, reflecting a rise in exports, Gulf Daily News reported.

The decline in the deficit happened as the result of exports increasing by 8.2 percent to USD18.41 billion during the January-October period of this year, led by the automotive sector, which exports surged by 29.3 percent, as well as a jump in electronics exports by 25.3 percent, while aviation exports increased by 2 percent..

The value of Moroccan imports increased by 1 percent at the end of October compared with the same period last year to reach USD36.27 billion, which was mainly the result of a near-doubling in wheat imports, to reach USD1.20 billion and despite a decline in energy imports, which fell by 4.4 percent to reach USD9.12 billion.