RABAT - Morocco's trade deficit widened by 61.6% in the first half of 2023 to 138 billion dirhams ($14 bln) despite a slight drop in imports, data from the foreign exchange regulator showed on Friday. Imports contracted 1.6% from a year earlier to 359 billion dirhams, overshadowing exports of 221 billion dirhams, up 1.9%, the regulator said in a monthly report. Morocco's energy imports stood at 61 billion dirhams, down 14.8%, while the cost of wheat imports slightly dropped by 0.7% to 45.7 billion dirhams. The automotive sector led Morocco's exports with 70.9 billion dirhams, up 34.3%. Tourism revenue rose 68.9% to 47.8 billion dirhams, outperforming pre-COVID levels.

Source: The North Africa Journal August 01, 2023 00:38 UTC