Foreign trade: good export performance, driven by phosphates and automobiles

For the first eleven months of 2021, exports stand at MAD 293,150 million, up by MAD 53,775 million or + 22.5% compared to the end of November 2020. Compared to the end of November 2019 (period before the crisis linked to the Covid-19), these sales increased by MAD 31,894 million or + 12.2%. In the same way, imports increased by 24% compared to the end of November 2020, and by 5.6% compared to the end of November 2019. Thus, the trade deficit stands at 181,015 MDH, up 26.4%. The coverage rate is 61.8%. Imports by main products The increase in merchandise imports (+ 24%) follows the increase in purchases of all product groups, mainly finished consumer products (+26,315 MDH), energy products (+22,154 MDH). ) and semi-finished products (+20,132 MDH). In fact, purchases of finished consumer products continue to increase to reach 111,767 MDH at the end of November 2021 against 85,452 MDH at the end of November 2020, i.e. + 30.8%. This change is mainly due to the increase in the purchase of passenger cars (+5,277 MDH) and those of drugs and other pharmaceutical products (+5,242 MDH), attributable to the acquisition of anti-Covid 19 vaccines. purchases of finished consumer products in total imports stood at 23.6%. For its part, the energy bill increased by 49.3%. This development is due to the increase in supplies of gas oils and fuel oils (+ 10.736MDH), dependent on the increase in prices of 39.1% (5,224 DH / T at the end of November 2021 against 3,756 DH / T un year before), combined with the increase in imported quantities of 9.2%: 6,019 mT at the end of November 2021 against 5,513 mT at the end of November 2020. Imports of these products at the end of November 2021 remain, however, lower than those posted during the same period in 2018 and in 2019. Exports by main product At the end of November 2021, merchandise exports stand at 293,150 MDH against 239,375 MDH a year previously, an increase of 22.5% or +53,775 MDH. This increase concerns exports from all sectors, mainly that of phosphates and derivatives, that of the automobile and that of agriculture and agrifood. Thus, sales of phosphates and derivatives stood at 69.192MDH at the end of November 2021, registering an increase of 51.9% or +23.641 MDH compared to the same period of the previous year. This development follows the increase in sales of natural and chemical fertilizers (+14,731 MDH), due to the price effect up 65.4% (4,595 DH / T at the end of November 2021 against 2,779 DH / T at the end of November 2020). As for the exported quantities of this product, they fell by 8.6%. At the same time, exports from the automotive sector increased by 12.8% or +8,524 MDH, standing at 75,080 MDH at the end of November 2021. This development is explained by the increase in sales in the construction segment (+ 26.2% or +7.071 MDH). On the other hand, sales of the cabling segment show a slight decrease of 1.1% or -253 MDH. The number of exported passenger cars shows an increase of 12.8% (317,068 cars at the end of November 2021 against 281,134 at the end of November 2020). For their part, exports from the agriculture and agrifood sector increased by 10.2% or +5,835 MDH. This development is due to a simultaneous increase in sales of the food industry of MAD 3,369 million and those of the agriculture, forestry and hunting sector of MAD 2,270 million. On the other hand, the share of sales of this sector in total exports lost 2.3 points, standing at 21.5% at the end of November 2021 against 23.8% at the end of November 2020. Sales of the textile and leather sector, fourth exporting sector at the end of November 2021, stood at 33,493 MDH against 27,745 MDH at the end of November 2020, i.e. + 20.7% or + 5.748 MDH. This situation is dependent on the increase in exports of ready-made clothing (+ 4.085MDH), hosiery (+ 1.569MDH) and, to a lesser extent, shoes (+ 181MDH).