Reduction of trade deficit by 20.5% late July 2015, Exchange Control Office

Rabat - Morocco's foreign exchanges witnessed late July 2015 an improvement of 23.9 billion dirhams in the trade balance, which is reduction in the trade deficit of 20.5% compared to the same period last year, according to the Office des Changes (exchange control office).

The trade deficit decreased to 92.4 billion MAD by the end of July, versus 116.2 bn MAD year on year, said the office which has issued its preliminary indicators on foreign exchanges for July 2015.

The office said that coverage rate of imports by exports gained 7.2 points, reaching 57.8% against 50.6% by late July 2014.

This evolution is due to the increase by 6.3% in exports and the drop by 7% in imports, said the same source.