Trade is on the rise in Q2-2022

The volumes of Moroccan exports and imports of goods and services would have increased by 6.9% and 7.3%, respectively, in the second quarter of 2022, in annual variations, indicates the High Commission for Planning (HCP).

In value terms, growth in exports of goods would have been more vigorous, with an increase of 49.7% year-on-year, instead of +28.6% a year earlier, mainly attributable to a positive price effect, indicated the HCP in its second quarter 2022 economic update and outlook for the third quarter.

Exports of phosphates and their derivatives, in particular natural and chemical fertilizers, would have contributed for more than half to this increase, specifies the same source.

Excluding phosphates and derivatives, exports would have been driven by those of the automotive industry in its construction and wiring segments, aeronautics and, to a lesser extent, those of the food industry and products from the electrical and electronic industries. .

With a contribution of +4.4 points, external sales of the textile and leather industry, in particular ready-made clothing, knitwear and footwear, would have benefited from the recovery in orders from European principals. giving greater priority to local supply.

At the same time, the HCP notes that imports of goods in value, driven by the sharp rise in import prices, would have posted a 48% increase in the second quarter of 2022. The energy bill would have more than doubled, under the effect of the surge in the international prices of refined products, in particular those of gas oils and fuel oils.

Excluding energy, imports would have been driven by purchases of semi-finished products and raw products, in particular those of ammonia, raw sulfur and plastic materials, the prices of which would have risen sharply.

Those of industrial capital goods and food products would have contributed 4 and 3.5 points respectively to the change in imports of goods.

On the other hand, imports of finished consumer products appear to have slowed down, following the decline in purchases of passenger cars, medicines and pharmaceutical products and household appliances.

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