The increase in imports is partly explained by the increase in the energy bill which increased by 81.6%, with a value of 7,117 MDH. “This development is mainly dependent on the increase in supplies of diesel and fuel oil (+3,434 MDH) due to the rise in prices of 64.2% (6,798 DH/T once morest 4,141 DH/T). The quantities imported recorded an increase of 16.1%: 1,062mT at the end of February 2022 once morest 915mT at the end of February 2021”, explains the same source.
In addition to hydrocarbons, the food bill has also increased. Imports of food products increased by 44.8% or +3.996 MDH, according to data from the Office des Changes, which explains that this increase follows, mainly, the increase in wheat purchases (+96.8 % or +2.018MDH) which reached their highest level in the last five years.
This increase is also driven by the surge in wheat prices, which increased by +21.4% in February 2022. Recall that the price of wheat reached 3,342 DH/T at the end of February, once morest 2,754 DH/ T at the same month in 2021.
As for FDI, they posted an increase of 24.1% (+637MDH) compared to the same period of the previous year. According to the bulletin, at the end of February 2022, FDI receipts recorded an increase of 8% or +303 MDH (4,109 MDH at the end of February 2022 once morest 3,806 MDH at the end of February 2021). For their part, expenses fell by 8.8% (-198MDH).
Thus, the net flow of FDI increases by 32.1% or +501MDH from 1,560MDH at the end of February 2021 to 2,061MDH at the end of February 2022, continues the same source.
With regard to currency transfers, Moroccans residing abroad transferred 13,141 MDH at the end of February 2022 once morest 13,378 MDH at the end of February 2021. Thus, transfers from Moroccans residing abroad fell slightly by 1.8% (i.e. – 237MDH). “Nevertheless, these revenues remain higher than those recorded during the same period between 2018 and 2020”, specifies the Office des Changes.