Exports doubled at the end of May

Sales of phosphates and derivatives almost doubled to reach more than 47.62 billion dirhams (MMDH) at the end of last May against 24.27 billion dirhams at the end of May 2021, according to the Foreign Exchange Office.

This development is mainly explained by the increase in sales of natural and chemical fertilizers (+17.96 billion dirhams) due to the price effect which more than doubled (8,354 dirhams/t at the end of May 2022), indicated the Office in its recent note on the monthly indicators of foreign trade.

On the other hand, the quantities exported fell by 10.2%, notes the same source.

The Foreign Exchange Office also reports an increase in exports of the agricultural and agri-food sector by 24% to 40.25 billion dirhams, following the simultaneous increase in sales of the food industry (+28.9%) and agriculture, forestry and hunting (+19.6%).

It should be remembered that exports of goods amounted to 176.4 billion dirhams at the end of May 2022 against 125.3 billion dirhams a year earlier, i.e. a growth of 40.7%. This increase concerns exports from all sectors, mainly those of phosphates and derivatives, the automotive sector and those of agriculture and agri-food.

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