Remarkable increase in trade at the end of June

The Minister of Economy and Finance, Nadia Fettah Alaoui, indicated, Wednesday in Rabat, that Morocco’s trade exchanges experienced a remarkable increase at the end of June 2022, due to the continuous increase in the prices of goods, in particular fuels and grain.

In a presentation on “the execution of the 2022 Budget and the three-year budget programming for 2023-2025”, presented to the Finance and Economic Development Committee at the House of Representatives, the Minister underlined that this positive development concerned all sectors exporters who recorded an increase of 41%, while imports advanced by 39%, noting that the coverage rate improved to 60.2%.

And to continue that in this context, exports of phosphates and their derivatives increased by 96.2% compared to the same period in 2021 to reach 47.6 billion dirhams (MMDH) and other exports recorded an increase. by 27.4% to 128.8 billion dirhams, faced with an increase in the cost of energy imports by 113.8% to 54.6 billion dirhams, food products by 31.8% to 37.1 billion dirhams and other goods by 28 .4% to 201.5 billion dirhams.

Nadia Fettah Alaoui also noted a positive evolution of exports of global trades in Morocco, thanks to the improvement of foreign demand addressed to Morocco and the increase in the prices of exported products, specifying that exports of the automotive industry have increased. by 24.4% to 41.4 billion dirhams, agricultural and food products by 24% to 40.3 billion dirhams and the aeronautical industry by 61.5% to 8.9 billion dirhams.

She also highlighted the recovery of net foreign direct investment in the Kingdom by 10.8% to 7.7 billion dirhams.

With regard to foreign exchange reserves, Nadia Fettah Alaoui indicated that they stood at 327 billion dirhams at the end of last June, adding that the official reserve assets of Bank Al-Maghrib are at a comfortable level allowing to cover 6 months of imports.

In the same vein, the minister said that tourist receipts increased significantly by 173% to 20.3 billion dirhams at the end of May, as did transfers from Moroccans residing abroad (MRE) who continue their upward trend with an increase of 5% after the 50% rebound recorded during the same period in 2021. These receipts made it possible to cover 50.2% of the trade deficit, against 51.5% at the end of May 2021.

.

Previous Post Next Post