Rabat - Morocco's trade deficit has narrowed to 20.51 billion Dirhams by the end of February against 32.64 billion dirhams a year earlier, latest figures from the Exchange Office have revealed.
Imports decreased by 15.2 per cent moving from 63.18 billion dirhams to 53.56 billion Dirhams.
The decrease in imports was mainly due to the falling oil prices which also led to a decline in the country's imports of energy (93.8% of the total decline of imports).
The import-export ratio has reached 61.7% against 48.3% by the end of February, the Office said. The change is also due to the 8.2% increase in exports.
Exports increased 33.04 billion Dirhams against 30.54 billion Dirhams during the same period last year.
The performance in exports originates from the increase in sales of phosphates and derivatives (20.4), the automotive sector (+MAD 10,1) and those of agriculture and Agri-food (10.4%).
10 MAD = 0.99 USD
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