Morocco - Balance of payments

Remittances from Moroccans working abroad, foreign aid, and a growing tourist industry have helped to offset chronic trade deficits. In recent years, Morocco has turned increasingly to foreign borrowing to meet its financial needs.

The US Central Intelligence Agency (CIA) reports that in 2001 the purchasing power parity of Morocco's exports was $8.2 billion while imports totaled $12.4 billion resulting in a trade deficit of $4.2 billion.

The International Monetary Fund (IMF) reports that in 2001 Morocco had exports of goods totaling $7.1 billion and imports totaling $10.2 billion. The services credit totaled $4.03 billion and debit $2.12 billion. The following table summarizes Morocco's balance of payments as reported by the IMF for 2001 in millions of US dollars.


Current Account 1,606
Balance on goods -3,022
Balance on services 1,910
Balance on income -833
Current transfers 3,550
Capital Account -9
Financial Account -967
Direct investment abroad -97
Direct investment in Morocco 144
Portfolio investment assets
Portfolio investment liabilities -8
Other investment assets
Other investment liabilities -1,006
Net Errors and Omissions 230
Reserves and Related Items -860
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