Morocco's exports dropped by 61.5 percent in the first four months of 2020 year on year amid the COVID-19 pandemic.
Moroccan imports has dropped by 37.6 percent during the same period, reported Maroc Le Jour newspaper on Wednesday quoting Minister of Finance Mohamed Benchaaboun.
The most impacted exporting sectors are the automotive industry, aeronautics and electronics, it added.
Tourism, which represents seven percent of Moroccan economic activity and generated last year 8 billion U.S. dollars in foreign currency inflows, dropped by 60 percent, the report said.
The North African country has drawn in April on an IMF liquidity line of 3 billion dollars to finance its balance of payments and offset the drop in foreign exchange reserves.
Moroccan Ministry of Health on Wednesday morning reported 25 new cases of COVID-19, bringing the total number of confirmed infections in the country to 7,048.
The country has extended the state of medical emergency until June 10.
Source: Xinhua |
