Export: Tough Times for Textiles and Electronics

Alarm bell on 5 export sectors. In today’s edition, L’Economiste reports on the export turnover of textiles, electronics, hosiery, footwear and copper. Thus, textiles and leather have fallen by 2.2% which, as the newspaper writes, “has difficulty in increasing its sales abroad.”

In this context, hosiery and clothing fell by 2 and 4.2% respectively. Shoe sales fell by 5.6%. Following the same trend, exports of electronics fell by 2.4%, while mining exports fell by 10.4%, with lead and copper shipments falling by 15 and 31.8% respectively. The daily also notes slight declines in exports of phosphates and derivatives and pharmaceuticals by 0.8% and 0.7% respectively.

More generally, L’Economiste notes a 2.9% increase in exports driven by the good performance of export turnover in agriculture and food processing (3.8%), aeronautics (7.7%) and automobiles (5.4%). According to L’Economist, the latter accounts for 27.6% of total exports.

On the other hand, imports are also on the rise despite the 2.2 billion DH drop in the energy bill. This increase comes, according to the newspaper, from the 8% increase in purchases of capital goods and semi-finished products. In addition, imports of finished consumer goods and food products are also on an upward trend. Result of the races, widening of the deficit of 4.2 billion DH.

As for the balance of payments, L’Economist notes the collapse of IDE (-46.1%) to 17.6 billion DH. Similarly, IDE revenues fell by 30.9%. As for MRE transfers, they remained stable while tourism income increased by 7.5%.

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