RABAT, Feb 2 (Reuters) - Morocco's trade deficit widened
56.5% to 311 billion dirhams ($ 30.6 billion) in 2022, boosted
mainly by higher energy costs, data from the foreign exchange
regulator showed on Thursday.
Imports rose 40% from a year earlier to 737 billion dirhams,
while exports increased 30% to 426 billion dirhams, the
regulator said in a monthly report.
Morocco's energy bill soared the most, up 104% to 153
billion dirhams, while the cost of wheat imports rose 81% to 25
billion dirhams after the worst drought in decades.
Morocco, which has the world’s largest phosphates reserves,
reported a rise of 44% in exports of the mineral and its
derivatives, including fertilisers, to 115.4 billion dirhams.
The automotive sector led industrial exports with 111
billion dirhams, up 33%.
Tourism revenue more than doubled to 91 billion dirhams,
signaling a strong recovery from the impact of the COVID-19
pandemic.
Key to Morocco's inflow of hard currency, remittances from
Moroccans abroad hit a new record of 109 billion dirhams, or an
increase of 16.5%.
(Reporting by Ahmed Eljechtimi; Editing by Clarence Fernandez)
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