Current Account To Stay Positive

January 2007 | Economic Analysis

On the back of strong tourism receipts and remittance inflows, Morocco looks set to achieve a current account surplus of 2.1% of GDP in 2007, dipping slightly from 2.7% of GDP in 2006. The trade account will continue to widen despite easing oil prices - we anticipate the OPEC basket average price coming in at US$54.5/bbl, down from US$60.6/bbl in 2006 - though at a much slower rate of 13.5% y-o-y compared to an estimated 23% last year. The services and income accounts should continue their solid growth, generating enough surplus to cover the trade and (very small) income

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