São Paulo – Morocco’s trade deficit declined in 2015 for the third consecutive year. According to information released this Tuesday (15) by the country’s Ministry of Finance, the deficit decreased 18.6% over 2014 and stood at MAD 152.4 billion (USD 15.5 billion).
The performance was the result of an increase in exports and decrease of imports. External sales totaled MAD 214.1 billion (USD 21.8 billion), an increase of 6.6% over 2014. Purchases declined 5.6% in the same comparison and stood at MAD 366.5 billion (USD 37.3 billion).
In a report, the Ministry of Finance pointed out especially to the improvement in sales by the state-owned company OCP, from the fertilizers sector. Other highlights were exports by the auto, food and aeronautical industries. However, shipments of the electronics, fabrics and hide sectors declined.
On the other hand, there was a decline specially with spending regarding oil and by-products imports – due to the fall of the prices of the commodity –, food, especially wheat, due to a record-breaking domestic crop. However, there was an increase in external purchases of capital goods, semi-finished and basic products and consumer goods.
Brazil
Last year, Morocco exported to Brazil USD 739.8 million, a decline of 41% over 2014. The main products shipped were fertilizers and naphtha. The data comes from the Brazilian Ministry of Development, Industry and Foreign Trade (MDIC).
Meanwhile, Brazil sold to North Africa USD 494.3 million in 2015, a decline of 13% over the previous year. The main items traded were sugar and maize. The trade balance was favorable to Morocco in USD 245.5 million against USD 681 million in 2014.
*Translated by Sérgio Kakitani
