The balance of payments "Morocco" -Few Analysis of some indicators-
This presentation used as one of my International Finance assignments of my MBA first year.
2. Blance Of Payments Definition
The balance of payments (BOP) is a statement of all transactions made between entities
in one country and the rest of the world over a defined period of time, such as a quarter or
a year.
• The balance of payments include both the current account and capital account.
• The current account includes a nation's net trade in goods and services, its net earnings on
cross-border investments, and its net transfer payments.
• The capital account consists of a nation's imports and exports of capital and foreign aid.
• The sum of all transactions recorded in the balance of payments should be zero; however,
exchange rate fluctuations and differences in accounting practices may hinder this in practice.
4. Balance Of Payments of Morocco
Morocco Balance of Payments (BoP): Current Account (CA)
Morocco Balance of Payments (BoP): Current Account (CA)
Morocco’s Balance of Payments (BoP): Current Account (CA) data was reported at -14,511.000 MAD mn in Dec 2019. This records a decrease from the previous number of -6,239.100
MAD mn for Sep 2019. Morocco’s Balance of Payments (BoP): Current Account (CA) data is updated quarterly, averaging -10,888.650 MAD mn from Mar 2014 to Dec 2019, with 24
observations. The data reached an all-time high of 4,250.700 MAD mn in Sep 2015 and a record low of -22,616.000 MAD mn in Jun 2017. Morocco’s Balance of Payments (BoP): Current
Account (CA) data remains active status in CEIC and is reported by Foreign Exchange Office. The data is categorized under Global Database’s Morocco – Table MA.JB001: Balance of
Payments: BPM6.
5. Morocco’s BoP: CA: Credit data was reported at 129,678.000 MAD mn in Dec 2019. This records an increase from the previous number of 129,450.200
MAD mn for Sep 2019. Morocco’s BoP: CA: Credit data is updated quarterly, averaging 109,912.500 MAD mn from Mar 2014 to Dec 2019, with 24
observations. The data reached an all-time high of 129,678.000 MAD mn in Dec 2019 and a record low of 90,877.700 MAD mn in Mar 2014. Morocco’s
BoP: CA: Credit data remains active status in CEIC and is reported by Foreign Exchange Office. The data is categorized under Global Database’s
Morocco – Table MA.JB001: Balance of Payments: BPM6.
Balance Of Payments of Morocco
Morocco Balance of Payments (BoP): CA: Credit
6. Balance Of Payments of Morocco
Morocco Balance of Payments (BoP): CA: Debit
Morocco’s BoP: CA: Debit data was reported at 144,189.000 MAD mn in Dec 2019. This records an increase from the previous number of 135,689.300 MAD mn for Sep
2019. Morocco’s BoP: CA: Debit data is updated quarterly, averaging 122,423.300 MAD mn from Mar 2014 to Dec 2019, with 24 observations. The data reached an all-
time high of 145,747.100 MAD mn in Dec 2018 and a record low of 100,861.400 MAD mn in Mar 2015. Morocco’s BoP: CA: Debit data remains active status in CEIC and is
reported by Foreign Exchange Office. The data is categorized under Global Database’s Morocco – Table MA.JB001: Balance of Payments: BPM6.
7. Morocco’s BoP: CA: GS: Goods data was reported at -49,509.600 MAD mn in Dec 2019. This records an increase from the previous number of -49,902.800 MAD mn
for Sep 2019. Morocco’s BoP: CA: GS: Goods data is updated quarterly, averaging -45,205.850 MAD mn from Mar 2014 to Dec 2019, with 24 observations. The data
reached an all-time high of -32,921.500 MAD mn in Mar 2015 and a record low of -50,693.600 MAD mn in Dec 2018. Morocco’s BoP: CA: GS: Goods data remains
active status in CEIC and is reported by Foreign Exchange Office. The data is categorized under Global Database’s Morocco – Table MA.JB001: Balance of
Payments: BPM6.
Balance Of Payments of Morocco
Morocco Balance of Payments (BoP): CA: GS: GOODS
8. Morocco’s BoP: CA: GS: Goods: Credit data was reported at 60,002.100 MAD mn in Dec 2019. This records an increase from the previous number of 51,998.300 MAD mn
for Sep 2019. Morocco’s BoP: CA: GS: Goods: Credit data is updated quarterly, averaging 48,981.400 MAD mn from Mar 2014 to Dec 2019, with 24 observations. The
data reached an all-time high of 64,607.600 MAD mn in Mar 2019 and a record low of 39,197.500 MAD mn in Sep 2014. Morocco’s BoP: CA: GS: Goods: Credit data
remains active status in CEIC and is reported by Foreign Exchange Office. The data is categorized under Global Database’s Morocco – Table MA.JB001: Balance of
Payments: BPM6.
Balance Of Payments of Morocco
Morocco Balance of Payments (BoP): CA: GS: GOODS: CREDIT
9. Morocco’s BoP: CA: GS: Goods: Debit data was reported at 109,511.700 MAD mn in Dec 2019. This records an increase from the previous number of 101,901.100 MAD
mn for Sep 2019. Morocco’s BoP: CA: GS: Goods: Debit data is updated quarterly, averaging 94,055.100 MAD mn from Mar 2014 to Dec 2019, with 24 observations. The
data reached an all-time high of 110,409.300 MAD mn in Jun 2019 and a record low of 76,026.400 MAD mn in Sep 2015. Morocco’s BoP: CA: GS: Goods: Debit data
remains active status in CEIC and is reported by Foreign Exchange Office. The data is categorized under Global Database’s Morocco – Table MA.JB001: Balance of
Payments: BPM6.
Balance Of Payments of Morocco
Morocco Balance of Payments (BoP): CA: GS: GOODS: DEBITS
10. Morocco’s BoP: CA: GS: Goods: Net Exports Under Merchanting data was reported at 257.000 MAD mn in Jun 2018. This records an increase from the previous number of 212.700
MAD mn for Mar 2018. Morocco’s BoP: CA: GS: Goods: Net Exports Under Merchanting data is updated quarterly, averaging 67.100 MAD mn from Mar 2014 to Jun 2018, with 18
observations. The data reached an all-time high of 316.600 MAD mn in Dec 2017 and a record low of 20.700 MAD mn in Dec 2014. Morocco’s BoP: CA: GS: Goods: Net Exports Under
Merchanting data remains active status in CEIC and is reported by Foreign Exchange Office. The data is categorized under Global Database’s Morocco – Table MA.JB001: Balance of
Payments: BPM6.
Balance Of Payments of Morocco
Morocco Balance of Payments (BoP): CA: GS: GOODS: NET EXPORT UNDER MERCHANTING
11. Morocco’s BoP: CA: GS: Services data was reported at 20,105.500 MAD mn in Dec 2019. This records a decrease from the previous number of 27,595.700 MAD mn
for Sep 2019. Morocco’s BoP: CA: GS: Services data is updated quarterly, averaging 15,825.650 MAD mn from Mar 2014 to Dec 2019, with 24 observations. The data
reached an all-time high of 27,595.700 MAD mn in Sep 2019 and a record low of 12,703.800 MAD mn in Mar 2014. Morocco’s BoP: CA: GS: Services data remains
active status in CEIC and is reported by Foreign Exchange Office. The data is categorized under Global Database’s Morocco – Table MA.JB001: Balance of Payments:
BPM6.
Balance Of Payments of Morocco
Morocco Balance of Payments (BoP): CA: GS: SERVICES
12. CONCLUSION AND TAKE AWAY
For the year 2019, the evolution of the main foreign exchange indicators is as follows :
❖ Merchandise trade balance
In 2019, both imports and exports of goods increased.
Imports rose by 2% or 9.8 billion dirhams (491.2 billion dirhams in 2019 instead of 481.4 billion dirhams in 2018). similarly, exports
increased by 2.4% or 6.6 billion dirhams (from 282.1 billion dirhams to 275.4 billion dirhams).
As a result, the trade deficit reached 209.2 billion dirhams at the end of 2019 instead of 206 billion dirhams a year earlier and the import
coverage ratio decreased from 57.2% to 57.4%.
❖ Current account balance
The results of the balance of payments for 2019 show a reduction in the deficit in the current account by 19% to 47.3 billion DH against
-58.4 billion DH for the year 2018.
This development can be explained by the increase in the services surplus by 12.1 billion DH and by the reduction in the deficit of
primary income by 1.1 billion DH, despite the increase of the deficit of trade in goods (-2.2 billion DH). As for the surplus of secondary
income, it has remained stable from one year to the next.
Thus, the current account ended with a deficit of 47.3 billion DH, down 19% or 11.1 billion DH. This deficit is financed by the net flows
for Direct and Portfolio Investments as well as Other Investments.
❖ International investment position
The net international investment position decreased to -765,1 billion dirhams at the end of December 2019 from -754,5 billion dirhams
at the end of September 2019, reflecting increases in both financial liabilities (+33.3 billion dirhams) and financial assets (+22.7 billion
dirhams).
The rise of financial liabilities is attributed to the increases recorded in all major categories of liabilities led by “other investment”
(+13,8 billion dirhams), direct investment liabilities (+9.9 billion dirhams), and Portfolio investment (+9,7 billion dirhams).
The growth in financial assets is explained by the increase in reserve assets (13,2 billion dirhams) and in “other investments” assets
(+6,4 billion dirhams) as well as in direct investment assets (+3.4 billion dirhams)
RELEASE - Merchandise trade, balance of payments and international investment position statistics, year 2019
