The energy bill increases by 51.9% in 2021

Imports of energy products increased by 51.9% in 2021, or 25.9 billion dirhams (MMDH), according to the annual report of the Office des Changes on Morocco’s foreign trade.

This development is due to the rise in prices and quantities imported, specifies the Office, noting that imports of gas oils and fuel oils, which show the strongest growth, alone explain nearly half of the increased supplies of energy products.

Overall, said report shows an increase in imports of goods by 24.7% to 527.4 billion dirhams. On the other hand, in volume, they fell by 1.1%.

At retail, imports of finished consumer products grew by 30%, mainly due to the increase in imports of passenger cars (+5.9 billion dirhams), medicines and other pharmaceutical products (+5.5 billion dirhams) , as well as parts and pieces for passenger cars (+3.9 billion dirhams).

At the same time, imports of semi-finished products increased by 23.9%, mainly due to the increase in imports of plastic materials or plastic works (+3.2 billion dirhams), ammonia (+2.9 billion dirhams ) and chemicals (+2.5 billion dirhams).

For their part, imports of finished equipment products amounted to 124 billion dirhams in 2021, up 12.6% compared to 2020. They are mainly driven by purchases of aircraft parts and other air vehicles (+2.2 billion dirhams), piston engines (+1.7 billion dirhams), generator sets and electric rotary converters (+1.2 billion dirhams), as well as tires (+1.1 billion dirhams).

To a lesser extent, raw products and food products also contributed to the overall rise in imports, with respective contributions of 8.8% and 4.5%.

Imports of raw products increased by 47.2% in 2021, following the rise in imports of raw and unrefined sulfur (+5 billion dirhams), the value of which doubled, as well as purchases of crude soybean oil or refined (+1.9 billion dirhams).

Food products have continued to rise uninterrupted since 2017 and will reach 59.9 billion dirhams in 2021. Purchases of raw and refined sugar, wheat and corn are largely responsible for the increase in imports of this group of products in 2021.

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