Morocco's Phosphate Exports Reach $2.45 Bn

Heavy machinery is seen at a phosphate mine at the Boucraa factory of the National Moroccan phosphate company (OCP) (File photo: Reuters)
Heavy machinery is seen at a phosphate mine at the Boucraa factory of the National Moroccan phosphate company (OCP) (File photo: Reuters)
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Morocco's Phosphate Exports Reach $2.45 Bn

Heavy machinery is seen at a phosphate mine at the Boucraa factory of the National Moroccan phosphate company (OCP) (File photo: Reuters)
Heavy machinery is seen at a phosphate mine at the Boucraa factory of the National Moroccan phosphate company (OCP) (File photo: Reuters)

Morocco's exports of phosphate and derivatives reached $2.45 billion at the end of March, according to recent data from the Foreign Exchange Office (FEO).

The Office indicated that Morocco's phosphate exports almost doubled as of March 2022 compared to the same period in 2021, when the number reached $1.35 billion.

It attributed the change to the increase in natural and chemical fertilizers sales.

Exports of the agriculture and food industry sector amounted to $2.44 billion compared to $2.13 billion during the same period last year, a 14.9 percent increase.

The Office attributed the development to the "simultaneous increase in sales of the food industry (+27.4 percent) and agriculture, forestry, and hunting (+5.7 percent)."

Textile and leather exports rose 32.3 percent during the first quarter of this year, the highest level during the past five years, while aviation sales increased 53 percent to $517 million, compared to $3.38 million a year ago.

The Office reported that remittances from Moroccans living abroad exceeded $2.29 billion during the first three months of 2022, an 8.3 percent increase compared to last year's same period.

The FEO also reported that Morocco's trade deficit widened 43 percent to $6.56 billion, with imports rising 34 percent, while exports increased 29 percent from January to March compared to the previous year.

Meanwhile, the High Commission for Planning announced that the unemployment rate dropped 0.4 percent, falling from 12.5 to 12.1 percent.

Urban areas registered a decrease in the unemployment rate from 17.1 percent in Q1 2021 to 16.3 percent in the same period in 2022. Rural areas recorded a slight decline of 0.2 percent, from 5.3 percent in Q1 2021's to 5.1 percent in the same period in 2022.

The unemployment rate among Moroccan women also fell by 0.2 percent, from 17.5 percent in Q1 2021 to 17.3 percent in Q1 of 2022.



Turkish Manufacturing Sector Contracts Further in March, PMI Shows

Shoppers walk through the spice bazaar in the Eminonu district of Istanbul on April 1, 2025. (Photo by Ed JONES / AFP)
Shoppers walk through the spice bazaar in the Eminonu district of Istanbul on April 1, 2025. (Photo by Ed JONES / AFP)
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Turkish Manufacturing Sector Contracts Further in March, PMI Shows

Shoppers walk through the spice bazaar in the Eminonu district of Istanbul on April 1, 2025. (Photo by Ed JONES / AFP)
Shoppers walk through the spice bazaar in the Eminonu district of Istanbul on April 1, 2025. (Photo by Ed JONES / AFP)

Türkiye's manufacturing sector contracted further in March, with output and new orders continuing to ease amid difficult market conditions both domestically and internationally, a survey showed on Wednesday.
The Purchasing Managers' Index (PMI) slipped to 47.3 from 48.3 in February, marking the lowest reading since October last year, survey compilers S&P Global reported. A PMI reading below 50 indicates a contraction in activity, Reuters reported.
March marked the 21st consecutive month of declining new orders, with the slowdown being the most pronounced since last October. New export orders fell at the fastest pace since November 2022.
"Challenging market conditions both at home and abroad meant for further moderations in output and new orders in March as Turkish firms struggled to secure business," said Andrew Harker, Economics Director at S&P Global Market Intelligence.
Despite the downturn, there were signs of stabilization in some areas. Inventory levels held steady after 10 months of depletion, and suppliers' delivery times improved for the first time in six months, reflecting reduced demand for inputs.
Inflationary pressures eased slightly although currency weakness continued to drive up costs. Employment in the sector also saw a slight reduction for the fourth consecutive month, though the decrease was the smallest so far this year.
Manufacturers remain cautiously optimistic about future output, hoping for improvements in new orders and demand from the construction sector over the coming year.