Morocco: fuel sales falter as domestic demand slows down

AppId is over the quota
AppId is over the quota

By Loubna Flah

Morocco World News

Casablanca, June 11, 2013

The latest data disclosed by the Group of Moroccan Petroleum Producers known as GPM, revealed that fuel and gasoline sales decreased while Butane fuel sales increased slightly starting from April 2013. The Butane fuel is usually sold bottled as a fuel for cooking and camping.

According to the Moroccan daily Al Massae, the Propane fuel sales have been faltering during the four quarters of the current year. The amount of Propane fuel sales for this year reached 41, 000 tones compared to 47, 000 reached in 2012.

The statistics disclosed by the GPM reveal also that the sales of Fuel Oil used to produce electricity soared to reach 35, 6 % at the end of April 2013 compared to the same period last year.

The sales of the benzene variety known as “Super” decreased also dropping from 167 000 tones in 2012 to 148 000 tones in 2013. The gasoline sales on the other hand decreased from 1, 4 Billion tones recorded in 2012 to 1, 3 Billion tones in 2013.

The statistics disclosed by Lasamir Company revealed a slowdown in the volume of the raw fuel refined by the company during the past four months. Indeed, the volume of refined raw oil dropped from 1, 7 billion tones in 2012 to 1, 3 billion tones recorded in 2013. Lasamir supply of different types of fuel has generally plummeted at the end of April 2013.

Overall, the imports decreased considerably, which has lowered the cost of the total energy bill. The volume of imports reached 11, 7% during the first four months of the current year.

The volume of imports stagnated at MAD 30, 4 billion in 2013 compared to MAD 34, 4 billion recorded last year.

The drop in the volume of imports is ascribed to two main factors, namely the decrease in the oil prices in international markets and a significant drop in the domestic demand.

The shortage in the domestic energy resources is a real burden for the Moroccan economy. Morocco imports 98%of its energy needs from the international market, mainly crude petroleum, which is refined domestically.
Morocco cover the bulk of its growing energy needs through imports.

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A sharp decline in domestic demand influences the report economic growth - HCP

By Loubna Flah

Morocco world news

Casablanca, June 4, 2013

The High Commissioner for planning (HCP) issued a memorandum assessing the performance of the Moroccan economy with emphasis on the level of domestic demand.

The HCP report revealed a considerable dip this year domestic demand. The contribution of domestic demand to economic growth decreased by 3.8% it has reached 2.7% in 2013 from 6.5% last year.

Domestic demand is defined as the total amount that is spent on goods and services by individuals, businesses and Government, or which would be spent if the products and services were available.

HCP reports attributed this slowdown of domestic demand to a significant slowdown in consumption of households by 3, 8%, a strong decrease in spending last year, estimated at 7, 4%.

The decline in domestic demand also explains the low growth in international trade. On the other hand, the potential of funding also decreased concomitantly with sluggish growth in domestic growth which reached 4, 8%.

On the other hand, the transfer of remittances fell significantly affected by the decline in the income of the Moroccan community residing abroad.

These factors have contributed to a visible decrease in the growth of the national economy, declined by 5% in 2011 for 2, 7% in 2012.