Here is the gist of the note from the Foreign Exchange Office on the monthly indicators of foreign trade for May 2022:
Morocco's trade deficit stood at nearly 116.8 billion dirhams (MMDH) at the end of May 2022, up 36.9% compared to the same period a year earlier.
– Imports increased by 39.2% to more than 82.55 billion dirhams and exports rose by 40.7% to 51.06 billion dirhams. – Exports of phosphates and derivatives almost doubled to reach more than 47.62 billion dirhams at the end of May.
– Automotive exports increased by 24.4% to 41.35 billion dirhams at the end of May 2022.
– The net flow of Foreign Direct Investments in Morocco (FDI) reached more than 7.7 billion dirhams at the end of May 2022, up 10.8% compared to the same period a year earlier.
– Travel receipts exceeded 12.88 billion dirhams at the end of May 2022.
– The balance of trade in services recorded a surplus up 78.3% at the end of May 2022 to 30.63 billion dirhams.
– Transfers of funds made by Moroccans residing abroad (MRE) amounted to more than 38.31 billion dirhams at the end of May.