Monday, March 9, 2015
Boussaid explained that preliminary figures suggest that growth stood at 3% last year, while the trade balance deficit shrank by 6%. Newly developed export lines, in particular cars manufactured at a plant set up by Renault-Nissan to the east of Tangiers, are contributing to the improved trade balance. This has resulted in a more diversified export slate, which has reduced the country's reliance on phosphate sales. Morocco's external accounts are also benefiting hugely from the fall in oil prices, as the country is heavily dependent on imported energy.