Imports dropped to 358 billion dirhams, while exports rose to 221 billion dirhams leaving a deficit of 138 billion dirhams. The automotive sector exported 70.9 billion dirhams, that is a 34.3% rise, offsetting a drop in phosphates and derivatives exports at 36.7 billion dirhams due to a slump in prices. Overall energy imports dropped 14.8% to 60.9 billion dirhams. Remittances from Moroccans abroad rose 14% to 55.3 billion dirhams, putting the country on track to report another record year. As tourism recovers, travel revenues totaled 47.8 billion dirhams, up 69%.

Source: The North Africa Journal August 02, 2023 12:51 UTC