Morocco’s Energy Bill Plummets 34.6% in 2020 Amid Falling Oil Imports

This drop is mainly due to the decrease in prices and the quantity of imports of gas-oils and fuel-oils by 39.8% and the imports of petroleum oil and lubricants by 61%. Energy products had already recorded a decline of 6 MMDH in 2019 following the drop in prices, the report said, specifying that imports of semi-products and finished consumer goods fell after an increase over the past ten years.

As for finished products, the drop mainly concerns the purchases of passenger cars, their parts, synthetic and artificial fiber fabrics and yarns. For semi-products, the decline is due to plastics and various plastic products, electrical wires and cables, non-alloy iron or steel wires, bars, and profiles. On the other hand, finished equipment products also declined, reaching 109.5 MMDH in 2020 against 126.8 MMDH in 2019, a decrease of 13.7%. This result is linked to the decline in the purchase of aircraft, aerial or space vehicles, cables and wires, and parts of turbojet engines.

The decline did not spare raw material imports in 2020. Their fall reached 11.9% with mainly crude sulfur. However, food supplies increased by 7.4 MMDH, thanks to the increase in wheat and barley supplies. Merchandise imports thus fell by 14% to 422.3 MMDH, while they had experienced a 2.9% increase to 61,203 mT in volume.