Morocco’s trade deficit narrows after a significant drop in country’s energy bill

According to a report by Morocco’s foreign trade watchdog, Office d’Echange (OE) there was a major drop in the cost of semi-finished products, and raw materials, key components for industrial progress. The report further details that the cost of energy imports dropped by 21.4% or by MAD 30.1 billion ($ 2.9 billion), mainly due to the reduction in consumption of gas oils and fuel oils by MAD 17.8 billion ($1.6 billion).