The Exchange Board announced on Tuesday that exports of natural and chemical fertilisers also increased by 56.1 per cent at 1.25 billion dirhams in January as against 802.3 million dirhams over the samne period last year.
Earnings of phosphoric acid exports dropped by 9.7 per cent at 1.05 billion dirhams as against 1.17 billion dirhams.
Morocco, which has three-quarters of known phosphate reserves on the planet, is the leading exporter and world’s third producer of crude phosphates.
Revenues accruing from the tourist sector and remittances by Moroccans living abroad and phosphate exports remain the main foreign currency earners of the Moroccan economy.
The exploitation of phosphates is undertaken by the state-owned Moroccan Phosphate Board (OCP),which was set up in 1920