Casablanca – Customs revenues in Morocco saw a significant increase by the end of September 2024, exceeding $7 billion, marking a 14.2% rise compared to the same period in 2023. This continues a positive trend observed earlier in the year, where revenues for the first eight months had already surpassed $6.2 billion.

According to the General Treasury of the Kingdom (TGR), the growth in customs revenues is driven by three primary sources: customs duties, Value Added Tax (VAT) on imports, and the domestic consumption tax (TIC) on energy products. These revenues also account for refunds, exemptions, and reimbursements, which reached $9.4 million by the end of September, up from $5.6 million a year earlier.

In terms of specific categories, net customs duties collected by the end of September amounted to $1.22 billion, reflecting an 11.8% growth compared to the same period in 2023. This marks an improvement from the 8.8% growth rate observed at the end of August, when net customs duties totaled $1.08 billion.

Similarly, revenues from VAT on imports rose by 14.1%, reaching $4.4 billion by September. This also represents an increase from August, where VAT revenues stood at $3.9 billion, reflecting a growth rate of 10.5% compared to the same period in 2023.

Revenues from the domestic consumption tax on energy products also showed strong improvement, amounting to nearly $1.39 billion by the end of September, a 16.6% increase compared to September 2023. By the end of August, TIC revenues had reached $1.21 billion, marking a 9.5% increase over the previous year.

This steady rise in customs revenues highlights the continued strength of Morocco’s import activities and the effectiveness of the country’s fiscal policies in the face of global economic challenges.