Exports doubled at the end of March

Moroccan exports of phosphates and derivatives almost doubled to reach 24.54 billion dirhams (MMDH) at the end of March against 13.43 billion dirhams at the end of March 2021, according to the Foreign Exchange Office.

This development follows, mainly, the increase in sales of natural and chemical fertilizers (+7.75 billion dirhams) due to the price effect which more than doubled (7,319 dirhams/t at the end of March 2022 against 3,116 dirhams/t at the end of March 2021), explains the Office in its recent note on the monthly indicators of foreign trade, noting that, on the other hand, the quantities exported fell by 17.8%.

At the same time, exports of the agricultural and agri-food sector stood at 24.37 billion dirhams at the end of March 2022 against 21.20 billion dirhams during the same period of the previous year, an increase of 14.9%. This development is explained by the simultaneous increase in sales of the food industry (+27.4%) and agriculture, forestry and hunting (+5.7%).

For their part, textile and leather exports increased by 32.3% in the first quarter of 2022, a level at the highest level during the same period over the past five years, while sales of aeronautics sector showed an increase of 53% amounting to 5.17 billion dirhams against 3.38 billion dirhams a year earlier.

The Foreign Exchange Office also indicates that at the end of March 2022, exports of goods amounted to 99.98 billion dirhams against 77.526 billion dirhams a year earlier, an increase of 29%, adding that this increase concerned all sectors, mainly phosphates and derivatives, the agriculture and agri-food sector and the textile and leather sector.