Morocco's Energy Trade Balance Plummets 125% Amid Shifting Import-Export Dynamics
In 2020, the balance of energy exchanges with Algeria and Spain showed a 125% drop, reflecting a 57% decline in exports and a 62.8% increase in imports. This is indicated in a January 2021 economic note from the Directorate of the Treasury and External Finance (DTFE) of the Moroccan Ministry of Economy, Finance and Administrative Reform.
Net energy consumption fell by 1.2% in 2020 compared to +4% in 2019, the same source specifies. Local electricity production fell by 4.1% at the end of 2020 compared to an increase of 17.2% a year earlier. This development is explained by the decline in production of the National Office of Electricity and Drinking Water (-13.8%) and, to a lesser extent, that from renewable energies registered under Law 13-09 (-6.6%) and concessional production (-0.9%).
As for electricity consumption, it fell by 1.5% compared to +0.3% a year ago. This decline is linked to the declines in electricity consumption at very high voltage and high voltage (-5.4%), that distributed to the municipal authorities (-4.8%) and medium voltage consumption (-0.4%). Conversely, residential consumption increased by 4.2% at the end of 2020, due to the confinement period and the maintenance of telework in several sectors.
