MAPUTO – Morocco's trade deficit rose by 6.9 percent last year stabilising at E7.8bn ($10.26bn) by November, despite an increase in exports, the Exchange Office said here.
The Office, which is controlled by the Finance Ministry, said the deficit was E7.1bn ($9.34bn) during the same period in 2005.
It said the trade deficit was exacerbated by Morocco's oil import, which amounted to E2.1bn ($2.76bn), an increase of 4 percent compared to the same period in 2005.
The report said Morocco's total imports rose to E16.8bn ($22.09bn) in 2006, against E15.3bn ($20.01bn) in 2005.
Exports increased by 13.1 percent at E9bn ($11.83bn), boosted by phosphates and by-products, up 14 percent.- Panapress
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