Export volume up 5.6% in Q1-2022

The volume of national exports of goods and services would have posted growth of 5.6% in the first quarter of 2022, in a context of sharp acceleration in export prices, indicates the High Commission for Planning (HCP).

In value, exports of goods would have increased by 29.5% year on year, instead of 12.6% a year earlier, specifies the HCP which has just published a note on the situation reporting on the situation. of the main economic indicators observed for the fourth quarter of 2021, estimated for the first quarter of 2022 and reporting the forecasts for the second quarter.

This evolution would have been driven, mainly, by the increase in external sales of phosphates and its derivatives which would have contributed for 14.5 points to the overall evolution of exports of goods in value, explains the same source.

Excluding phosphates and derivatives, exports would have increased by +19.3%, benefiting from the recovery in external sales of the aeronautics industry by 61.5% instead of -17.3% in the first quarter of 2021, and from sales in the sector textiles which would have posted an increase of 28.2% during the same period.

For their part, imports of goods, in value, would have posted a firming of 37%, instead of 2.6% during the same period of 2021, notes the HCP, indicating that this acceleration would have been attributable to the 88.8% increase in purchases of energy products in the wake of the surge in international prices of refined products, particularly those of diesel and fuel oil.

Purchases of semi-finished products would also have been dynamic, contributing 10.9 points to the overall trend in imports, followed by food products with a contribution of 5.3 points and capital goods which would have increased by 20 .3%. On the other hand, imports of finished consumer goods appear to have slowed slightly, suffering from the 15.7% fall in imports of passenger cars.

“The more pronounced rise in imports relative to exports would have accentuated the deficit in the trade balance for goods and led to a 3.5 point decline in the rate of coverage of imports by exports in the first quarter of 2022, compared to the same period. of 2021 »estimates the HCP.