Morocco’s phosphate export increases in 2012

May 05, 2012 12:00 AM

Morocco earned 4.26 bn dirhams (1 euro = 11.07 dirhams) from phosphate export in the first four months of this year, an increase of 15.7 % over the 3.68 bn dirhams earned during the same period in 2011, according to the State-owned Foreign Exchange Office (FEO).
However, export of phosphate derivatives dropped by 1.6 %, from 10.52 bn dirhams in 2011 to 10.35 bn dirhams this year, the latest Moroccan foreign trade indicators, published by the FEO which is under the supervision of the Finance Ministry, said.

Morocco, the world's largest producer of phosphates, has three-quarters of the world's reserves.
Revenues generated from phosphate export and tourism as well as remittances by Moroccan immigrants are the country’s main sources of foreign exchange.

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