Rabat, Morocco (TMT)- Morocco’s Minister of Economy Mohamed Benchaaboun said that the invisible killer COVID-19 has beset the country’s economy and brought it to a stillstand, one that forced the exports of the North African kingdom to drop by 80%.
Benchaaboune said that, initially, exports dropped by 50% in the month of March, but it reached an unprecedented low of 80% towards the end of this month.
Benchaaboune noted that Morocco’s imports also dropped by 43%, further stressing that some industries like the automotive sector have completely suspended their activities.
“Remittances from Europeans living abroad decreased by 10%,” said Benchaaboun.
“The textile industry output dropped by 80%,” Benchaaboune went on further to say.
The Moroccan Minister of Economy noted that Morocco’s “electric energy consumption has dropped by 13%.”
Benchaaboune disclosed the aforementioned information amid a parliamentary meeting today.
The Moroccan Times.