Morocco’s total foreign trade dropped by 17.7 percent in the first half of 2020, the foreign exchange regulator said on Thursday.
According to the report, the total foreign trade decreased from US$44.3B in the first semester of 2019 to US$36.46B at the same period of 2020 due to the COVID-19 pandemic.
Morocco’s exports decreased by 18.3 per cent to reach over US$13.5B, while imports decreased by 17.5 per cent to reach US$22.9B.
Trade deficit narrowed by 16.2 percent to more than US$9.4B.
The foreign direct investment in Morocco declined by 7.2 percent year on year to a total of US$926M between January and June, the report added.