The Foreign Exchange Office reported that Morocco’s trade deficit decreased by 15.9% at the end of February 2021 compared to the same period in 2020, to stand at 24.94 billion dirhams (MMDH) .
In its monthly indicators of foreign trade for the month of February, the Office specifies that imports fell by 7.4% to 74.56 billion dirhams in the same way as exports which fell by 2.5%. at 49.62 billion dirhams.
The coverage rate stands at 66.5%, recording an improvement of 3.3 points, it is further noted.
The decline in imports of goods follows the decline in purchases of the majority of product groups, in this case, energy products (-3.46 billion dirhams), capital goods (-1.43 billion dirhams), semi- products (-1.4 billion dirhams) and food products (-232 million dirhams (MDH)). This decline is mitigated by the increase in purchases of finished consumer products (+351 MDH) and raw products (+189 MDH).
Indeed, the energy bill was reduced by 28.8% at the end of February 2021, specifies the Office, noting that this evolution is explained by the drop in supplies of diesel and fuel oil (-2.28 billion dirhams). ) due to the 23.1% drop in prices (4,045 DH/T at the end of February 2021 against 5,259 DH/T a year earlier), combined with the drop in imported quantities (-19.6%): 913mT at the end of February 2021 against 1.136mT at the end of February 2020.
At the same time, supplies of capital goods and semi-finished products fell by 6.9% and 8.1% respectively. The share of these two product groups in total imports stabilized at 47.4%. On the other hand, imports of finished consumer products show a slight increase of 1.9% (18.46 billion dirhams at the end of February 2021 against 18.11 billion dirhams at the end of February 2020), indicates the office, noting that this evolution is attributable , essentially, to the increase in purchases of parts and pieces for passenger cars (+21.9%) and those of passenger cars (+21.3%).
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