Morocco’s trade deficit narrows 12% year/year in Jan-May – ZAWYA

Morocco’s trade deficit narrows 12% year/year in Jan-May – ZAWYA

Morocco's trade deficit narrows 12% year/year in Jan-May | ZAWYA MENA Edition HomeEconomyNorth AfricaArticleMorocco's trade deficit narrows 12% year/year in Jan-May Drought has slashed by 42% Morocco's cereals harvest this year    RABAT- Morocco's trade deficit shrank by 12% to 73.7 billion dirhams ($7.58 billion) in the first five months of 2020 from a year earlier, the foreign exchange regulator said on Wednesday.Imports dropped 16.9% to 174.5 billion dirhams and exports tumbled 20.1% to 100.8 billion dirhams, the regulator said in a monthly report citing the impact of the COVID-19 pandemic.Energy imports, including gas and oil, fell 9.2% to 22.9 billion dirhams, on the back of lower prices.Imports dropped 16.9% to 174.5 billion dirhams and exports tumbled 20.1% to 100.8 billion dirhams, the regulator said in a monthly report citing the impact of the COVID-19 pandemic.RABAT- Morocco's trade deficit shrank by 12% to 73.7 billion dirhams ($7.58 billion) in the first five months of 2020 from a year earlier, the foreign exchange regulator said on Wednesday.Energy imports, including gas and oil, fell 9.2% to 22.9 billion dirhams, on the back of lower prices.Drought has slashed by 42% Morocco's cereals harvest this year, leading to a spike in soft wheat imports