First Independent Mena Newspaper
Morocco’s trade deficit deepened 56% to 215 billion dirhams ($20 billion) up to August amid soaring prices of refined energy products, wheat and ammonia in the international market. Energy imports increased 128% to 103 billion dirhams in the first eight months this year, partly because Morocco imports all of its refined gas and fuel oils, […]
Kenya has started exporting its fresh avocados — dubbed as “green gold” — to China, which is seen as a step in Beijing’s elaborate plan to increase imports from Africa to help balance the trade between China and the continent. The first batch of fresh avocados grown in Kenya and destined for the Chinese market […]
The trade deficit in Tunisia widened by record 56% in the first semester of 2022, reaching 8.1% of GDP, while the budget deficit, exacerbated by mounting energy and food subsidies, is expected to reach 9.1% in 2022, compared to 7.4% in 2021, according to the World Bank’s latest report. Inflation in this country rose from […]
Morocco’s trade deficit up to June surged to 150.5 billion dirhams or 14.6 billion dollars as the country sustains a heavy energy bill on the back of soaring commodities prices. The trade gap expanded 48.7% as the domestic economy recovers and demand grows on imports of semi-products and equipment required by the local industry increase. […]
Morocco’s trade deficit shrunk 23.1% as the pandemic lowered both imports and exports with tourism being the worst hit sector. Tourism revenues dropped 53.8% to 36.3 billion dirhams from 70.7 billion dirhams in 2019 when Morocco received 13 million people. Imports bill dropped 14% thanks in particular to lower energy imports and fewer equipment imports […]
Morocco’s trade deficit in the first seven months this year eased by 18.2% as foreign demand on Moroccan industrial exports curbs imports, the foreign exchange office said. The office also cited a significant drop in energy imports triggered by lower prices in international markets. By July, Morocco’s energy imports slid 31, while equipment purchases dropped […]
Morocco’s trade deficit shrunk 12% in May as the coronavirus pandemic reduced demand both for imports and exports, the foreign exchange agency said. The 16.9% drop in imports to $17 billion from January to May came as a result of a fall in all imports except cereals, the agency said. Exports however dwindled 20% to […]
Morocco’s trade deficit has shrunk by 1.9% to almost 66.25 billion dirhams ($6.9 billion) in the first four months of the current year, according to the Exchange Office. Morocco witnessed a 19.7% drop in exports between January and April of this year, representing a loss of 20 billion DH ($2 billion), according to the Exchange […]
Morocco’s trade deficit has slowed to 1.5% in 2019 partly due to a fall in energy imports and a rise in agricultural and automotive sector exports. The import bill was 491 billion dirhams while exports stood at 282 billion dirhams. Energy imports decreased 7.2%, representing 15.6% of all imports, thanks to lower prices in international […]
Mckinsey said that agriculture stands as a promising sector for Morocco in order to bridge the gap in its trade deficit with China. The US consulting firm said in a report on Chinese-African economic ties that out of the 2 billion dollars of Morocco’s agricultural exports in 2017, only 0.2% was sold to China. The […]