The trade deficit remained almost stable in February 2023, reaching 1,526.5 MD compared to 1,539.8 MD in January of the same year, according to data published by the National Institute of Statistics (INS) on Tuesday.
In addition, the coverage rate lost one point in February, standing at 76.2%, compared to January 2023. Exports dropped by 6.3% (following a rise of 2.7% in January) to 2,286.1 MD, with the energy sector exports dropping sharply by 74.6%.
Similarly, exports of mechanical and electrical industries decreased by 3.7%, and the textile, clothing, and leather sector went down 2.5%.
However, the agriculture and agri-food industries grew 3.8% due to the increase in olive oil exports. Likewise, the mining sector went up 12.8%, and other manufacturing industries rose by 2.7%.
Imports dropped for the second consecutive month in February 2023, falling by 5.1% to 6,411.4 MD, to the lowest level since March 2022. This fall affected all product groups except for energy, which recorded an increase of 12.8%. As a result, imports, excluding energy products, decreased by 8.3%.
Food products imports posted a significant drop of 37.8%, mainly due to the decrease in purchases of grain. Moreover, the acquisition of capital goods saw a decline by 13%, consumer goods decreased by 2%, and raw materials remained almost stable with a decrease of 0.1%.
In terms of trade by country, exports to European Union countries went down 6.9%, including to Germany by 10% and France by 1.7%. However, exports to Italy increased by 3.3% and Spain by 12.2%.
Maghreb countries saw a decline by 7.8% in exports, along with Turkey with 52.9% and China by 16%.
As for imports, there was a general drop of 6.7% with the EU countries, especially with Italy by 2.4%, Spain by 7.2%, Sweden by 22.4%, and Greece by 75.4%. However, imports from France increased by 5.1% and Germany by 3.8%.
Imports from Arab Maghreb Union (AMU) countries posted a significant rise of 67.5%, mainly with Algeria, which soared 180.3%.