(Ecofin Agency) - During the first six months this year, Morocco’s trade deficit reached MAD100.83 billion ($10.7 billion), up 7.8% from the same period in 2017. This was announced July 16 by the exchange office.

Over the period, imports rose by 9.9% to MAD240.97 billion while exports jumped by 11.4% to MAD140.14 billion.

In detail, major imports include equipment and machines which rose by 10% to MAD59.18 billion against 8.6% for consumer commodities (MAD54.26 billion) and 15.7% for energy import (MAD38.82 billion). As far as exports are concerned, the automotive industry sector achieved the best performance with an increase by 19.1% to MAD35.973 billion, while the agribusiness sector recorded an increase by 3.8% to MAD30.531 billion.

The foreign exchange office also indicated that tourism revenues increased by 15.5% in the first half of 2018 to MAD 31.29 billion, while remittances increased by 8.5% to MAD 31.95 billion.