Phosphate exports increase 66.6 percent, benefited by the rise in international prices (note)

The Directorate of Financial Studies and Projections attached to the Ministry of Economy and Finance reported that the value of exports from the phosphates and derivatives sector increased 66.6 percent at the end of September, compared to 45.4 percent a year earlier. .

In its circumstantial note for the month of November 2022, Management indicated that sales of phosphate derivatives had increased by 67 percent at the end of September 2022, benefiting from the continuous increase in international sales prices.

The same source added that the volume of exports decreased by 17.1 percent due to a decrease in the volume of fertilizers of 10.5 percent, and the volume of phosphoric acid by 33.9 percent, indicating that only during In September, the volume and value of Fertilizer exports increased by 2 percent, 28.6 percent, and 96.2 percent, respectively.

Regarding sales of crude phosphate destined abroad, its value increased 63.1 percent at the end of September 2022, compared to a decrease in volume of 43.7 percent.

The memorandum also indicated that at the end of the first half of 2022, the value added of the extractive industries sector decreased, in volume terms, by 6.3 percent, after an increase of 1.2 percent a year earlier.

This result includes a decrease of 4.8 percent during the first quarter and 7.8 percent during the second quarter of 2022, compared to a 3 percent increase during the first quarter of 2021 and a decrease of 0. 6 percent during the second quarter of 2021. year 2021.

This decline continues its downward trend during the third quarter of 2022, in line with the drop in market production of phosphate rock, an essential component of the extractive industries sector in Morocco, by 20.3 percent during this quarter. , after a decrease of 16.5 percent. percent during the second quarter of 2022, and by 11 percent during the first quarter of 2022.