Morocco Jan-Nov trade deficit rises 11.8 pct

Mon Dec 17, 2012 1:51pm EST

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RABAT, Dec 17 (Reuters) - Morocco's trade deficit rose 11.8
percent in January-November from a year earlier, the foreign
exchange regulator said on Monday, putting more pressure on the
country's foreign currency reserves.
    The trade shortfall widened to 183.1 billion dirhams ($21.5
billion) from 163 billion dirhams in the same period last year.
    Tourism receipts fell 2.3 percent because of lower business
from the euro zone, the main source of foreign visitors.
Remittances from the 3 million Moroccans living abroad dropped 4
    The cash-strapped country raised $1.5 billion with
international bond issues in early December. This helped foreign
currency reserves rise to 146 billion dirhams from 133 billion
in October, according to the latest central bank data.
    But even at their latest level, the reserves only cover
about four months and five days of import needs.
    The foreign exchange regulator released the following data
on the country's trade, tourism receipts, transfers by Moroccan
emigrants and private foreign loans and investment (PFLIs) for
the January-November period. Figures are in billions of dirhams.
             Jan-Nov   Jan-Nov   Jan-Oct
              2012      2011      2012
  EXPORTS    164.19    159.29    150.05   
  IMPORTS    347.33    323.02    313.96    
  BALANCE   -183.14   -163.73   -163.9    
  MIGRANTS    51.75     53.91     47.69        
  TOURISM     53.66     54.92     48.94       
  PFLIs       26.57     26.25     24.73
A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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