Four percent of the arable land is sown to pulses. Data indicates that approximately 1,084,638 MT of fish were caught in Morocco in 2001 which earned it the distinction of being Africa's largest fish market. For a listing of MEI donors, please click here. Electric power is produced almost entirely from fossil fuels; less than 20 percent of electricity production was generated from non-renewable sources (hydroelectric power from Moroccos many dams made up 16 percent of the total) (US Energy Information Administration). Arable land (land under temporary crops, such as grain and vegetables) is 18 percent of land area. The national-flag carrier, Royal Air Maroc (RAM), was established in 1957 and now has a fleet of 46 planes flying to 86 destinations. The industrial sector contributed 31.6 percent to Moroccos GDP in 2010. In other news, in April, to help ease food prices, the government canceled a value-added tax on agricultural products and raised the wheat subsidy for Black Sea imports. In 2021, GDP based on PPP for Morocco was 333,242 million international dollars. The basis of this growth is a highly diverse market. RBC and its logotype are registered trademarks of RBC. The IMF expects Moroccos growth rate to hover around 3% this year and the next, assuming a gradual improvement of external conditions and an average agricultural season. The Ministry of Tourism in Morocco was set up in 1985 to oversee tourism activities in the country and to come up with policies to improve the sector. Rabat grew from 80,000 to 115,00 people between 1931 and 1936, most of whom were housed in the bidonvilles. See more from the 2023 Index. This was the case in all three of the main migration belts: the Rif Mountains, the Sous Valley, and the southern oases. The dispute began in 1973, and by 2012 it had yet to be resolved. Transport developments were widespread but were particularly significant for ports (now ranked 32nd, a jump of 30 places over the same period) and roads (43rd, a 45-place jump). About half of the international traffic goes through the ports of Casablanca and Mohammedia. After three years of particularly fruitful co-operation, the Morocco Country Programme has now reached maturity. Public-service unions have complained of deteriorating working conditions for civil servants, and medium-sized manufacturing concerns often provide poor health and safety conditions; trade unions have begun to organize in the call-centre sector, where they complain about poor working conditions. Some of Morocco's most important industries include agriculture, tourism, and mining. Ongoing reforms are expected to increase potential growth over the medium-term. Although economic growth over the first decade of the millennium favoured the poor, the rural-urban poverty gap remained high in 2013, and the average consumption of urban households was almost twice that of rural households. Similarly, when measured using the international extreme poverty line of $1.90 per person per day (2011 purchasing power parity), poverty was almost eliminated in 2013 (about 1 per cent). The cookies is used to store the user consent for the cookies in the category "Necessary". Your support is greatly Air passengers carried were 8,971,295 in 2010. In 2021, GDP per capita based on PPP for Morocco was 8,144 international dollars. In late 2014, Morocco eliminated subsidies for gasoline, diesel, and fuel oil, dramatically reducing outlays that weighed on the countrys budget and current account. Moroccos economy grew slowly in 2018, despite unexpectedly positive growth in grain production, with the gross domestic product (GDP) growth rate dropping slightly from 3.5 per cent in the first quarter of 2017 to 3.2 per cent in the same quarter in 2018. Morocco is a net exporter of services, with USD 15.4 billion in exports (+16.5% y-o-y) against USD 8.5 billion in imports (+39% y-o-y). The automotive industry, in particular, has benefited from large foreign investments. For daily updates on the situation, visit the website of the Moroccan Press Agency (MAP in French). So far, the Gulf Cooperation Council nations look to be the ones benefiting the most from . Morocco suffers from structural factors that impede investment, including corruption and low levels of governance, economic freedom, and property rights protection. 1763 N St. NW, Washington D.C. 20036. , October 2021. The twin deficits will deteriorate, increasing significantly financing gaps. The Strait of Gibraltar is only 14 kilometres wide, and the Spanish enclaves of Ceuta and Melilla provide jumping-off points on the African side. Overview and forecasts on trending topics, Industry and market insights and forecasts, Key figures and rankings about companies and products, Consumer and brand insights and preferences in various industries, Detailed information about political and social topics, All key figures about countries and regions, Market forecast and expert KPIs for 1000+ markets in 190+ countries & territories, Insights on consumer attitudes and behavior worldwide, Business information on 70m+ public and private companies, Detailed information for 35,000+ online stores and marketplaces. In the first half of 2012 the slippage continued, but the crisis began to abate by the autumn. It is spearheaded by real estate and tourism, which has been very dynamic in recent years (accounting for around 11% of GDP and hitting a record of nearly 13 million arrivals in 2019). The tax burden equals 28.4 percent of GDP. In the mid-19th century people from the countryside moved to developing cities on the coast, especially Rabat, Essaouira and Tangier. During the 1960's the government of Morocco introduced plans to stimulate economic growth by modernizing the agricultural sector. Trade Freedom 64.4 Create a Graph using this measurement, Investment Freedom 65.0 Create a Graph using this measurement, Financial Freedom 70.0 Create a Graph using this measurement. The Democratic Federation of Labour (Fdration Dmocratique du Travail, FDT), which broke away from the CDT in 2003, is linked to the USFP. In 2021, the overall trade deficit was estimated at 9.1% of GDP by the World Bank (from 7.3% one year earlier). In 2009, the government announced a USD 9 billion solar energy project that is planned to provide 38 percent of installed power generation by 2020. Foreign and domestic investors are generally treated equally under the law. While European countries are the main trading partners (59.4% of total exports, 49% of imports), Morocco has also been strengthening its commercial integration with the rest of Africa, namely through the ratification of the African Continental Free Trade Area Agreement.Morocco has a structurally negative trade balance, which continues to deplete its foreign exchange reserves. Inflation decelerated to 8.2% in March from Februarys series high of 10.1%. Apart from agriculture, other sectors that the government wanted to focus on included tourism and manufacturing. In order to become a member of RBC Global Connect, and have access to all the website's information, you first have to register. Consequently, they have maintained close links and are classified by the government as Moroccans resident abroad. It has an outsized impact on the economy due to highly variable rain-irrigation-based grain production, its role as an employer, and its role as a major export industry. Casablanca is one of the largest artificial ports in the world and handles much of the phosphate exports. Public debt equals 68.9 percent of GDP. Morocco Economic Outlook After growing 1.3% in Q1-Q3, GDP increased 1.4% in Q4, according to a preliminary estimate. Fishing boats in Morocco. Insight cookiesThese cookies allow us to collect anonymous data about the use of the website, the number of visits, the duration of visit and other statistics, enabling us eventually to improve the content of this website. Source: The World Bank. liability for the information given being complete or correct. This was encouraged by the government, which hoped to build up the expertise and training of the workforce at no expense. The website of the Customs and Indirect Taxes Administration provides additional information (in French). Below are the latest articles by acclaimed journalists and academics concerning the topic Economy and Morocco. Most of the fishing in Morocco is done on a large scale since small-scale fishing is not well developed. The Moroccan government has partnered with the World Bank to ensure job creation and improved living standards for the Moroccan people. One official calculation is that 1,035 migrants died between 1999 and 2003, though the real figure is probably higher. The average economic growth between 2010 and 2020 was just 3.3%, much lower than what the reports rave reviews would lead one to expect. As a result, the Strait is the focus of an extensive illegal migration trade in Moroccans and people originating in sub-Saharan Africa; the latter group has grown rapidly in the past decade and a half. Source: The Parliament comprises the House of Representatives (395 deputies elected by universal direct suffrage for 5 years) and the House of Councillors (120 members elected by indirect universal suffrage for 6 years). In 2012, the BAM oversaw the activities of 27 licensed banks, six offshore banks, 19 consumer-credit companies, and various other financial institutions (e.g., leasing companies, real-estate-loan companies). Export-oriented industries are in light manufacturing: food and beverages (canned fish and fruit, wine), metals, and leather products. Moroccan agriculture does not, however, produce enough food to feed the country: the top three largest imports of foodstuffs in 2010 were wheat, maize, and sugar. Overview In 2021, Morocco was the number 56 economy in the world in terms of GDP (current US$), the number 61 in total exports, the number 54 in total imports, the number 122 economy in terms of GDP per capita (current US$) and the number 78 most complex economy according to the Economic Complexity Index (ECI) .. Exports The top exports of Morocco are Cars ($5.19B), Mixed Mineral or Chemical . 13.9 in Moroccan dirham (2013) or US$3.20 (2011 PPP) per day per capita, Upper Middle Income Class Poverty Line The Labour Code emphasizes the need for flexibility to make Morocco more attractive to outside investors, and unions object that this makes it easy for employers to hire temporary staff. Elephants do this by thinning out young trees and vegetation that are competing for space, water and light while foraging for food. The Council of Ministers, where only the head of government and the ministers sit, is responsible for the strategic direction of the state policy, the revision of the Constitution, drafting organic laws, general guidance of the finance bill, amnesty, draft texts related to the military, the declaration of a state of siege, the declaration of war. Land under permanent crops (e.g., vines and fruit, nut, and olive trees, but not timber forest) is 2.2 percent of total land area. After growing 1.3% in Q1Q3, GDP increased 1.4% in Q4, according to a preliminary estimate. Morocco is a North African nation that occupies an area of about 274,460 square miles and was home to 35,740,000 people as of 2017. By the late 19th century, the population of Tangier consisted largely of people of Rifi origin. In order to get more information about cookies and find out how to refuse them, visit our cookie policy page . Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet. Some challenges, however, will require deeper institutional reforms. Moroccos economic freedom score is 58.4, making its economy the 97th freest in the 2023 Index. Due to varying update cycles, statistics can display more up-to-date This implies that the economy expanded 1.3% in 2022 as a wholethe third worst performance in MENA after Lebanon and Yemen, according to our latest forecasts. In 2009, agricultural land covered 67 percent of the total land area, of which 4.6 percent is irrigated. The countrys cereal production is highly variable, with local dams providing irrigation for only 15% of the agricultural land and rainfed agricultural production accounting for 85% of the aggregate output (FAO). To find out about the latest status of the COVID-19 pandemic evolution and the most up-to-date statistics on the COVID-19 disease in Morocco, consult the official governmental portal CovidMaroc (in French and Arabic), which also provides data about the geographical distribution of the epidemic. Most of Morocco's crops are grown under irrigation although the northwestern region of the country receives sufficient rainfall to support agriculture. Rachid Aourraz is an economist and co-founder of the Moroccan Institute for Policy Analysis (MIPA), as well as a senior analyst. The latest figures from the Office des Changes show that in the first eleven months of 2022 trade in goods marked an increase both in imports and exports: the latter rose by 42.3% reaching a value of MAD 676.8 billion; similarly, exports stood at MAD 389.7 billion, with an increase of 33.1% from the same period one year earlier. In 2013 King Mohammed VI launched a huge project to construct what may be the worlds largest multiple power plant called Noor. There is a severe economic gap between the rich and the poor in Morocco. Poverty Indicators in 2013. IMF World Economic Outlook Database The trade-weighted average tariff rate is 12.8 percent. Spanish ships can fish in Morocco's waters due to an agreement signed by the European Union and the Moroccan government. In 2008, the last year for which complete figures are available, about 41.5 percent of the employed population consisted of wage earners, followed by self-employed (about 56 percent), and employers (2.5 percent). Three-year government spending and budget balance averages are, respectively, 30.5 percent and 5.5 percent of GDP. The correlations of poverty with other social factors are striking. Unfortunately, most of the migrants were initially employed in manual labour, although they did help to underpin the Moroccan economy. Morocco has a continuing trade deficit. Key sectors of the economy include agriculture, tourism, aerospace, automotive, phosphates, textiles, apparel, and subcomponents. Inflation was moderate, at 1.2%, allowing monetary policy to remain accommodative. Some of the crops grown in the northwestern area include cereals such as wheat and barley. offering fact-checked and therefore credible information. The first Moroccan unions were formed in the French settler community during the Protectorate, but they soon began to recruit Moroccans until stopped by the Protectorate authorities. Sign up to receive the latest publications, event invitations, and our weekly newsletter delivered to your inbox. It was aligned with the USFP until 2002, when its secretary general created his own political party to contest the parliamentary elections. Apr 14, 2023. It became a modern stock exchange in 1967 and is now the third largest exchange in Africa. Production is low but increasing: from 300 bbl/day in 2005 to 3,938 bbl/ day in 2010 (Index Mundi). data than referenced in the text. When measured using the lower middle-income poverty line of $3.20 per person per day, poverty declined to 7.7 per cent. Morocco has only small oil and gas reserves. The economy is projected to be driven by a still solid but moderating industrial performance and a faster recovery of tourism. This implies that the economy expanded 1.3% in 2022 as a wholethe third worst performance in MENA after Lebanon and Yemen, according to our latest forecasts. In 2014, Morocco's gross domestic product was estimated to be $109.88 billion, the highest in the country's history. The first migrants fully intended to return to Morocco after they had earned enough, but increasingly large numbers settled permanently in Europe. All Rights Reserved. 8.2 in Moroccan dirham (2013) or US$1.90 (2011 PPP) per day per capita, Lower Middle Income Class Poverty Line Air freight totalled 11,272 million tonne-km in 2010. Meanwhile, unemployment was stable at 12.9% in Q1. The land has a total area of 446,550 km (172,414 mi) and a total coastline of 1,835 km (1,140.2 mi). Due to Morocco's economic growth, it is considered one of Africa's most dominant economies. In 2010, there were 2,109 kilometres of track, including the Tangier-Casablanca high-speed line, carrying 4,398 million passengers (equivalent figures for 1980: 1756, 3,787, and 935) and 5,572 million tonnes of goods (equivalent figures for 1980: 1756, 3,787 and 935). The central Bank is the Bank al-Maghrib (BAM), whose headquarters are in Rabat. Less than 6 percent of the labour force is unionized. Economy - overview: Morocco has capitalized on its proximity to Europe and relatively low labor costs to work towards building a diverse, open, market-oriented economy. One of the most significant challenges facing the industry is territorial disputes with the European nation of Spain over the extent of Morocco's territorial waters. It is built around the Tanger-Med container port (see Infrastructure). var. All travelers need to pay close attention to the conditions at their destination before traveling. Tourism has faced some important difficulties recently: in 2011, the total number of arrivals increased less than 1 percent, although revenues held up; tourism receipts had been projected to grow in 2011 by 13 percent (IMF Report 2011). In June 2011, there were 79 listed companies, with a market capitalization of USD 53 billion. Moroccos economy was historically based on agriculture, which still accounts for 41 percent of employment, but industry employs 22 percent of workers (the rest are in services). Recent macroeconomic and financial developments After Morocco's first recession in 20 years, GDP grew at 7.2% in 2021 aided by the low-base effect, export performance, and an exceptional 2020/21 agricultural season. However, the COVID-19 shock has pushed the Moroccan economy into its first recession since 1995. This incorporates into law various ILO-conventions on maternity and the minimum working age, prohibits employers from sacking workers for legitimate union organizing, and recognizes the right to collective bargaining. Parties work with each other to form coalition governments. Exploration for gas and shale oil is continuing, particularly in southern Morocco and in the disputed Western Sahara territory, both on land and offshore. In 2004, the Moroccan government claimed to have prevented irregular emigration attempts by at least 26,000 people, of whom 17,000 were of sub-Saharan origin. The Kingdom of Morocco is a Muslim country in western North Africa, with coastlines on the Atlantic Ocean and Mediterranean Sea. What is Behind Morocco's Tourism Boom? Between 11 and 12 percent of the land surface is covered with forest. These two patterns of migration, within Morocco and beyond its borders to European-controlled areas, have continued. Consequently, Morocco's economy is expected to suffer from a recession this year, the first one since more than two decades. Get the best reports to understand your industry. In November 2011, the World Bank promised USD 297 million in financial assistance to develop a solar power plant that will eventually have a capacity of 500 MW. According to preliminary data by the Ministry for Agriculture, the agricultural sectors value-added decreased by 14% year-on-year during the 2021/22 crop year. Its score is 0.8 point lower than last year. For the international outlook you can consult the latest situation reports published by the World Health Organisation as well as the global daily statistics on the coronavirus pandemic evolution including data on confirmed cases and deaths by country. Source: Global Competitiveness Index 2016/2017 and 2017/2018. Moroccans also keep large numbers of livestock such as sheep and cattle. That said, the scarce data available has been mixed so far. The government of Morocco attempted to weed out the drug business, but research indicates that the industry continued to flourish. Although the nation's economy experienced a contraction of around six percent in 2020, a growth rate of 7.2 . See the country risk analysis provided by La Coface. Just an hour ferry ride from Spain, the country has a unique mix. Morocco Animals What Kind of Animals Live in Morocco. These policy recommendations are the outcome of productive exchanges between experts from the national . To boost exports, Morocco entered into a bilateral Free Trade Agreement with the US in 2006 and an Advanced Status agreement with the EU in 2008. Home | Country Rankings | Graph The Data | Heat MapExplore the Data | Downloads | FAQs| About The Index. The livestock industry in Morocco provides the nation with enough meat to feed the residents. Regularly updated information for all countries with regards to Covid-19 related travel restrictions in place including entry regulations, flight bans, test requirements and quarantine is available on TravelDoc Infopage.It is also highly recommended to consult COVID-19 Travel Regulations Map provided and updated on the daily basis by IATA.The US government website of Centers of Disease Control and Prevention provides COVID-19 Travel Recommendations by Destination.The UK Foreign travel advice also provides travelling abroad advice for all countries, including the latest information on coronavirus, safety and security, entry requirements and travel warnings. Some areas in Morocco such as the Medina of Fez and the historic city of Meknes have been classified as UNESCO World Heritage Sites due to their historical significance. The manufacturing sector accounts for about 15 percent of GDP, although it is rising steadily. Its consumption, however, is much larger: 209,000 bbl/day in 2010 and increasing rapidly (it was 158,000 bbl/day in 2003). Send your company's latest business news to Ben Swanger at Ben.Swanger@DMagazine.com. The recovery of tourism, strong remittances, and resilient exports have partially offset the shocks derived from Russias invasion of Ukraine, which fueled inflation and reduced households purchasing power. The crossing is made in small fishing boats or speedboats, by hiding in trucks, or by using forged papers. Morocco's Economic Update April 2020. 78percent of the country has an average annual precipitation of less than 250 millimetres, 15 percent has between 250 to 500 millimetres, and 7 percent has more than 500 millimetres; precipitation can change rapidly from year to year. The views expressed in this piece are his own. It does not engage in advocacy and its scholars opinions are their own. Morocco had the fifth-highest GDP in Africa in 2021, reaching 131 billion U.S. dollars. The country has around 75% of the world's estimated reserves of phosphates, and the mineral sector accounts for almost 30% of exports (Oxford Business Group). What Morocco needs more than ever is a favorable climate for doing business and real changes on the ground, especially greater protection of property rights and reforms to the judicial system, as well as other institutions. The competitive financial sector continues to grow and offers a range of financing options. MEI welcomes financial donations, but retains sole editorial control over its work and its publications reflect only the authors views. Even when taking into account dependants and the cost to public services, which it estimates at 4.4bn, the study says international students are a huge net contributor to the UK economy . Crossing the Strait of Gibraltar in small boats is dangerous, and many people die trying. Monetary stability has been maintained with relatively modest inflation. A report by the Economic, Social, and Environmental Council, which is a government institution, revealed that 60.65% of respondents consider doing business in Morocco very difficult, while a mere 2.58% said that it is very easy. Even in the region of Casablanca-Settat, the capital of business and finance in Morocco, 60% said that doing business is very difficult.. Select the reports most relevant to your business. The global effects of the COVID-19 pandemic compound with the domestic ones and those of drought. This cookie is set by GDPR Cookie Consent plugin. The stock exchange does not restrict foreign participation. Necessary cookiesThese cookies are needed for this website to work normally. The production of the main cereals (common wheat, durum wheat and barley) for the 2021/2022 crop year was estimated at 32 million quintals, down 69% from the previous year's record production, also due to the drought experienced by the country: at the end of April 2022, a rainfall level of 188mm was recorded, which is 42% lower than the average for the last 30 years (327 mm) and 35% lower than the previous year (289 mm). Regularly updated information for all countries with regards to Covid-19 related travel restrictions in place including entry regulations, flight bans, test requirements and quarantine is available on, For the up-to-date information on all the measures applicable to movement of goods during the period of sanitary emergency due to the COVID-19 outbreak (including eventual restrictions on imports and exports, if applicable), please consult the website of the. Manufacturing, of which the biggest part is in textiles and clothing, exported mainly to the European Union, with France importing 27.6 percent of the ready-to-wear clothing, 46 percent of the hosiery, and 28.5 percent of the basic textiles produced by Morocco. Morocco is very open to foreign trade, which represents 87% of its GDP (World Bank, latest data available). The labour force is growing rapidly: in 2010, it was 11,386,087, a 13 percent rise from 10,016,473 in 2001. By clicking Accept, you consent to the use of. A strong rebound in the tourism sector after the covid-19 pandemic and rising production of vehicles and pharmaceutical products support the growth outlook, although a slowdown in major . Tourism is a key element in the Moroccan economy. 594 18K views 7 months ago 2020 was the worst recession in 50 years for Africa, and Morocco was entirely hit by it, with a GDP shrinking an uncontrollable 5,9%. Rifi migration to Algeria involved about 10percent of the entire male population of the Rif in 1931. Though Morocco real GDP growth fluctuated substantially in recent years, it tended to decrease through 2002 - 2021 period ending at 7.9 % in 2021. GDP based on PPP of Morocco increased from 119,602 million international dollars in 2002 to 333,242 million international dollars in 2021 growing at an average annual rate of 5.66%. Since then, the movement has split, and there are now five main union confederations in Morocco, often aligned with a political party: The Moroccan Labour Union (Union Marocaine du Travail, UMT), the largest in the private sector, claims to have no political affiliation, although it is often said to have ties to the monarchy. For the latest updates on the key economic responses from governments to address the economic impact of the COVID-19 pandemic, please consult the IMF's policy tracking platform Policy Responses to COVID-19. Tourist capacity increased from 143,000 beds in 2007 to 184,00 in 2011 (data from Ministry of Economy andFinance). Most of Morocco's marine resources are located on the western coast in the Atlantic Ocean where the Canary Current flows. Statista assumes no Sub-Saharan Africans cross the Sahara overland, usually via Niger and Algeria. In 2009, the Moroccan government unveiled plans to improve the fishing industry in the country to increase its contribution to the economy. The Office Nationale des Aeroports runs 17 public civilian airports, of which the biggest is Mohammed V International Airport at Casablanca-Nouaceur, which has three terminals and two runways and handled 7,245,508 passengers in 2010. Source: In recent years, the Moroccan economy has been characterised by macroeconomic stability and low levels of inflation, relying mostly on exports, a boom in private investment, and tourism. At the 2019 International Conference on Justice in Marrakesh, King Mohammed VI stated, Providing an appropriate climate for investment requires not only updating legislation but also providing legal and economic guarantees that ensure confidence in the judicial system and provide full security for investors., In fact, Moroccos own reports attest to the fraught business environment. potential for implementing an APP in Morocco, and uses a semi-structural model of Moroccan economy (as in Bulir et al., 2021) to simulate its macroeconomic impact. The countrys main challenges remain its innovation environment (94th), higher education and training (101st) and labour market efficiency (120th) the only areas where there is a gap with developed economies. In 2011, remittances totalled USD 7.01 billion, making Morocco the eleventh largest receiver of remittances in the developing world (World Bank data). In 1999, the figures were 81 and 2 percent, respectively. This land area is approximately 111% of the area of California. The peer reviews and reports produced under the programme propose reform measures to improve the effectiveness of public policies in Morocco, based on international good practices. The rest of the agricultural land is permanent pasture. Important new roads are the coastal motorway and the 1,416-kilometrehighway from Oujda to Agadir. The number of. The dirham is fully convertible only for current-account transactions, although foreign-exchange accounts are permitted. Today Morocco is the largest exporter of phosphate in the world, has a large export industry, and is a market for mass tourism. Please log-in with your email and password, and click on "Submit". 23.8 in Moroccan dirham (2013) or US$5.50 (2011 PPP) per day per capita, Right to Organize and Collective Bargaining, Equal Remuneration for Work of Equal Value, Discrimination in Employment and Occupation, Gender Gap in MENA: Cultural, Legal and Institutional Barriers, Expatriate Remittances: A Lifeline for Many MENA Economies, The British Economy in Recession and its Impact on Arab Investments, Electric Vehicles Market in MENA: Challenges and Incentives, Financial Crisis likely to Worsen in many Arab Nations, Moroccos Auto Industry and the Pillars of a Prosperous Economy, Chinas Silent Expansion in the Middle East and North Africa, MENA Region Falls Short of Reaping Benefits of Renewable Energy, The Arab Maghreb Union: Of Missed Opportunities and Economic Integration, Morocco: Encroaching European Powers in the 19th Century, The Euros Depreciation and its Implications for the MENA Region, A Falling State: On the Daily Increasing Poverty Rate in Morocco, Morocco: Cannabis Legislation but the Devil in the Details, How Social Media Algorithms Change Migration Dynamics from the Maghreb, France No Longer the First Choice for Moroccans Seeking Opportunities Abroad, In Morocco, Cannabis remains a Sensitive Topic, Moroccos Education Crisis is hurting the Poor, Berber Marginalization in North Africa Fuels Identity Movements, Rehamna in Morocco: The Vessel of Bedouin Life, The Ebb and Flow of Press Freedom in Morocco, Morocco: Berber Dynasties: the Almoravids (1040 1147), Morocco: Sharifian Dynasties: the Saadis (1549 1659), The Alaouites and the Origins of the Modern Monarchy, Morocco: Preparations for Regime Change (1980-2000). It has three subsidiaries, Atlas (2004, 11 planes, 23 destinations), Jet4U (2006, five planes, 13 destinations), and Air Arabia Maroc with four planes. Necessary cookies are absolutely essential for the website to function properly. Overall, the manufacturing sector is estimated to account for 15% of GDP. In 2010, imports were 3.45 million short tons (US Energy Information Administration). This was generally due to two parallel trends: cross-regional development and increased inequality within some regions. From 2009 to 2019, private investment growth rates never exceeded 10% and even dipped into the red in 2013, 2014, and 2017, years that saw Morocco rise in the DBI ranking. One of Morocco's most controversial agricultural products is hashish which is mainly exported to nations in Europe. Since 1993, Morocco has followed a policy of privatization of certain economic sectors which used to be in the hands of the government. Tea, which is drunk in large quantities, was the sixth largest foodstuff import. Morocco is a North African nation that occupies an area of about 274,460 square miles and was home to 35,740,000 people as of 2017. By the early 1970s, foreign-exchange remittances covered 18 percent of the total import bill, and in the Rif, 31 percent of households relied on migrants as their main source of income. Another is skiing: the resort at Oukameden in the Atlas Mountains, 80 kilometres from Marrakesh, is the highest ski resort in Africa, at an elevation of 2,600 to 3,200 metres, reached by both chairlift and donkey. Morocco is rich with culture and colours and it is an authentic North Africa city worth visiting. The largest electricity power stations, at Muhammadia and Jorf Lasfar, are both coal-fired. The picture is the same with imports (USD 30.3 billion in 2009, 32.6 billion in 2002, 52.8 billion in 2016, figures IMF Report 2011). This reflects a continuous growth in trade, with exports rising from USD 14 billion in 2009 to USD 17.6 billion in 2010 and a projected 28.3 in 2016. %), Unemployment (% of active population, aop), International Reserves (months of imports). The emergence of new industries should allow the country to reduce its dependence on the agricultural sector. The bidonvilles around the main coastal cities appeared in the 1920s, and labour migration to France began around the same time. There are severe restrictions, particularly on collective bargaining, which can be conducted only by a union with at least 35 percent of the elected employee delegates. Consequently, most energy is imported, accounting for 24 percent of Moroccan imports (IMF Report 2011). There is a very unequal distribution on a regional basis: in general, the more urbanized provinces along the Atlantic coast are richer (see Regional development), and the provinces of the former Spanish Sahara in particular have benefited from low population and a huge injection of capital investment (see Income distribution and poverty). According to the Moroccan Association of Textile and Clothing Industry, in 2017 Moroccan textile exports were worth $7.3 billion which was an increase of nearly 3.8% from the figures recorded in 2016. Thus, the trade deficit increased by 56.9%, mostly due to the fact that the energy bill has more than doubled, reaching MAD 141.5 billion. Wind energy has been developed at a large wind-farm near Tangier, whose potential production is estimated at about 6,000 MW. Fez is a popular tourist destination since it is the location of the most ancient university in the world, Al Qarawyien. Data from the government of Morocco indicates that nearly 40% of the country's labor force works in the agriculture industry. 2018 Middle East Institute All Rights Reserved | Accessibility Policy |Built by Social Driver. PPP GDP is gross domestic product converted to international dollars using purchasing power parity rates. Although tertiary activities recorded a downward trend following the outbreak of the COVID-19 pandemic, with a particularly weak tourism performance, improvements were achieved in 2022 when tourist arrivals reached 84% of the pre-pandemic level and the value tourist receipts in foreign currency stood at MAD 81.7 billion at the end of November 2022 (data Ministry of Tourism). Morocco also seeks to expand its renewable energy capacity with a goal of making renewable more than 50% of installed electricity generation capacity by 2030. Fullenkamp estimates the value of the whale's carbon sequestration service to be at least $3 million. Last month, the Heritage Foundation report downgraded Moroccos rankings for the fifth consecutive year. The independence of Algeria cut off that labour market, and France itself became the main destination until the late 1960s, when a combination of labour turmoil there and demand elsewhere in Europe brought new destinations: Belgium, Germany, the Netherlands, and Spain. The gross domestic product in current prices in Morocco was forecast to continuously increase between 2023 and 2028 by in total 43.2 billion U.S. dollars (+31.13 percent). The main sectors are textiles, leather goods, food processing, oil refining, and electronic assembly. Electricity consumption rose steeply between 2005 (14.2 billion kilowatt hours generated) and 2012 (21.5, figures IndexMundi). From 2017 to 2022, the Heritage Foundation lowered its grades for Morocco in several key economic freedoms: investment (from 70.0 points out of 100 to 65.0), business (from 67.7 to 64.8), and trade (from 84.0 to 68.4). After the World Bank discontinued the "Doing Business Report" in September 2021, discussion about the business climate disappeared almost completely in Morocco, and the National Committee for the Business Environment seems to have stopped carrying out its work the last post on its Facebook page was published on March 2, 2021. For 2023 and 2024, the IMF expects it to further decrease to 10.7% and 10.2%, respectively. The services sector accounts for slightly above half of GDP (51.6%) and gives employment to 44% of the workforce. The plan was moderately successful, and the government introduced further strategies to boost other areas of the economy. Economic Growth (Nominal GDP, ann. It is considerably higher (22.5 in 2009) among the younger generations (aged 15-24), where the figures are skewed in favour of women (19.4 percent unemployed as compared to 23 percent for men in 2009). The executive power is shared between the government and the King. Although some are clearly refugees in terms of the 1951 Geneva Convention, Moroccan authorities do not generally provide permanent protection (see the Migration Policy Institute). Measured against the national poverty line, Morocco experienced a significant reduction in poverty, from 8.9 per cent in 2007 to about 4.8 per cent in 2013. Al-Akhawayn University in Ifrane, high in the Middle Atlas, built the first solar-energy site in Africa to generate electricity using photovoltaics. The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: Gross domestic product (GDP) growth rate in Morocco 2028, Share of the GDP of the tourism sector in Morocco 2013-2028, Gross Domestic Product (GDP) per capita in North Africa 2022, by country, GDP of African countries 2021, by country, African countries with the highest Gross Domestic Product (GDP) in 2021 (in billion U.S. dollars), Gross domestic product (GDP) in Morocco 2028, Morocco: Gross domestic product (GDP) in current prices from 1988 to 2028 (in billion U.S. dollars), Morocco: Growth rate of the real gross domestic product (GDP) from 2018 to 2028 (compared to the previous year), Distribution of gross domestic product (GDP) across economic sectors Morocco 2021, Morocco: Distribution of gross domestic product (GDP) across economic sectors from 2011 to 2021, Morocco: Inflation rate from 1988 to 2028 (compared to the previous year), Annual average consumer price index (CPI) in Morocco from 2012 to 2028, Consumer price index (CPI) in Morocco in June 2022, by category, Monthly CPI for food and non-alcoholic beverages in Morocco 2019-2022, Consumer price index (CPI) for food and non-alcoholic beverages in Morocco from July 2019 to September 2022, Monthly CPI for alcoholic beverages and tobacco in Morocco 2019-2022, Consumer price index (CPI) for alcoholic beverages and tobacco in Morocco from June 2019 to September 2022, Producer Price Index (PPI) for the manufacturing industry in Morocco 2019-2022, Industrial Producer Price Index (PPI) for the manufacturing industry in Morocco from June 2019 to September 2022, Monthly Producer Price Index (PPI) for electricity in Morocco 2019-2022, Industrial Producer Price Index (PPI) for electricity production and distribution in Morocco from June 2019 to September 2022, General government revenue in Morocco from 2011 to 2028 (in billion Moroccan dirhams), General government spending in Morocco 2011-2028, Total government expenditure in Morocco from 2011 to 2028 (in billion Moroccan dirhams), Total external debt stock in Morocco from 2015 to 2020 (in million U.S. dollars), National debt of Morocco in relation to gross domestic product (GDP) 2028, Morocco: National debt from 2018 to 2028 in relation to gross domestic product (GDP), Morocco's budget balance in relation to GDP 2028, Morocco: Budget balance between 2018 to 2028 in relation to GDP, Morocco: Trade balance of goods from 2011 to 2021 (in billion U.S. dollars), Annual value of imports into Morocco 2015-2020, Total value of imports into Morocco from 2015 to 2020 (in billion Moroccan dirhams), Leading commodities imported to Morocco 2019, Ten leading products imported into Morocco as of 2019 (in million U.S. dollars), Annual value of exports from Morocco 2015-2020, Total value of exports in Morocco from 2015 to 2020 (in billion Moroccan dirhams), Leading commodities exported from Morocco 2020, Ten leading products exported from Morocco in 2020 (in billion U.S. dollars), Most important export partners for Morocco in 2019, Labor force participation rate in Morocco 2021, Morocco: Labor force participation rate from 2011 to 2021, Number of people employed in Morocco from 2013 to 2024 (in 1,000s), Share of employed population in Morocco 2022, by economic activity and area, Distribution of the employed population in Morocco as of 2022, by sector of activity and area of residence, Morocco: Unemployment rate from 2003 to 2022, Youth unemployment rate in Morocco in 2022, Morocco: Youth unemployment rate from 2003 to 2022, Unemployment rate in Morocco 2022, by age, Unemployment rate in Morocco as of 2nd quarter 2022, by age group, Number of jobs lost in Morocco 2019-2020, by sector, Volume of employment lost in Morocco between 2019 and 2020, by sector. It fixes the daily rates for the foreign currencies on the basis of variations in the value of the basket. Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features. RABAT, June 1 (Xinhua) -- Morocco's trade deficit increased by 2.6 percent year-on-year to 91.32 billion dirhams (8.99 billion U.S. dollars) in the first four months of 2023, according to a data . Natural-gas imports have increased from 50,000,000 cubic metres in 2001 to 560,000,000 cubic metres in 2009. Despite supposed improvements in the business climate, the private investment market lacked the dynamism to match the reports plaudits. Workers engaging in picketing and public demonstrations are liable to criminal prosecution (see International Trade Union Confederation). Morocco has increased investment in its port, transportation, and industrial infrastructure to position itself as a center and broker for business throughout Africa. Research Expert covering North Africa, specializing in the socio-economic environment of Algeria, Libya, Tunisia, and Morocco. Morocco is ranked 7th out of 14 countries in the Middle East/North Africa region, and its overall score is approximately the world average. Nationally, the poor have benefited much less than the richer sectors of society from the economic growth of the last twenty years, and inequality has increased. The Democratic Confederation of Labour (Confdration Dmocratique du Travail, CDT), is the strongest in the public sector. The debt service burden of Chinese consumers has doubled in the past decade to 30 per cent of disposable income a level three times higher than in the US. The dysfunction of the Moroccan judicial system is among the most important obstacles to private investment. Web3 is envisioned to be a "decentralized web ecosystem," in which users can retain ownership of their data. Subsidies on butane gas and certain food products remain in place. In 2017, Morocco was considered Africa's premier tourist destination because it attracted more than 10,300,000 visitors. Other minerals include antimony, barite, copper, cobalt, lead, iron ore, manganese, silver, salt, and zinc. According to WTO data, in 2021 Morocco exported USD 35.8 billion worth of goods, recording an increase of 32.1% year-on-year; whereas the value of its imports stood at USD 58 billion, 32.4% more than the previous year. The rate of poverty remains one of the highest in the Mediterranean region, with almost one-fifth of the population living near the poverty line. Tourists in Morocco mainly visit the country to experience the nation's unique culture and history. Morocco is rich with cul." Diamonds and Pearls Travels | Leading Travel Company on Instagram: "Based on popular demand, we bring you- LET'S GO TO MARRAKECH this July. Barley, wheat, citrus fruits, grapes, vegetables, argan, olives, livestock and wine are the country's main crops. This popup enables you to set your cookies preference and decide which type of cookies you want to allow on your device. - Latest available data. The cookie is used to store the user consent for the cookies in the category "Analytics". To find out about the latest status of the COVID-19 pandemic evolution and the most up-to-date statistics on the COVID-19 disease in Morocco, consult the official governmental portal, published by the World Health Organisation as well as the global daily statistics on the coronavirus pandemic evolution including data on, To find out about the latest public health situation in Morocco and the current sanitary measures in vigour, please consult the official government platform, The COVID-19 situation, including the spread of new variants, evolves rapidly and differs from country to country. Industrial development strategies and infrastructure improvements most visibly illustrated by a new port and free trade zone near Tangier are improving Moroccos competitiveness. There is a significant percentage of unpaid workers (engaged mainly in family work; figures from the World Bank). This decline was only partly compensated by non-agricultural performance, which increased by 3.4 per cent (compared with 2 per cent in the first quarter of 2017), driven primarily by the double recovery in secondary and tertiary sector activities. Morocco has increased investment in its port . The World Customs Organization suggested that nearly 70% of the hashish consumed in Europe comes from Morocco. In 2017, Morocco's gross domestic product was the seventh highest in Africa. For the full list of economic and other international organisations in which participates Morocco click, The complete and up-to-date list of Free Trade Agreements signed by Morocco can be consulted, King: MOHAMED VI (since 30 July 1999) - hereditary, House of Representatives: 30 September 2026. Web3 and Web 3.0 - in which a collection of websites would be linked together at the data level - are often mixed up, explains The . In addition, he is also a non-resident scholar with MEIs North Africa and Sahel Program. In 2010 it dropped slightly to USD 15.1 billion from its 2009 figure of USD 16.3 billion, but it is predicted to rise steadily to USD 24.6 billion by 2016. Morocco is a country in northwestern Africa with connection to the Atlantic and the Mediterranean. IMF's policy tracking platform Policy Responses to COVID-19, COVID-19 Travel Recommendations by Destination, portal of the Moroccan Ministry of Interior, Customs and Indirect Taxes Administration, World Bank's Map of SME-Support Measures in Response to COVID-19, Moroccan Dirham (MAD) - Average Annual Exchange Rate For 1 USD. At the end of 2012 oil reserves were evaluated at 684 million barrels (bbl) and gas reserves at 511 billion cubic feet (bcf). The Casablanca Stock Exchange was founded in 1929 as the Office de Compensation des Valeurs Mobilires. The average annual inflation rate reached 6.2% in 2022 as a result of the 11% increase in the food index and the 3.9% increase in the non-food index (data HCP). The role of the colonial rulers in creating the infrastructure to support this was provocatively asserted by King Hassan, who wrote in his autobiography Those who assert that in the years between 1910 and 1935, France turned Morocco into an underdeveloped country know perfectly well that they are lying. While this is true, the Moroccan infrastructure has developed rapidly since independence, particularly in the most recent decades. You can also consult the World Bank's Map of SME-Support Measures in Response to COVID-19. The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". Morocco received large amounts of rainfall during the 2008-2009 growing season, far above normal, but rainfall was poor in 2007 and imports rose by 14 percent in consequence (food imports rose by 48 percent). The countrys GDP rebounded in 2021 when it grew an estimated 7.9%, but was hindered by global shocks and a severe drought in 2022, with GDP growing by only 0.8% (IMF). Multi-party system, consisting of numerous parties. Over the past decade, infrastructure has improved dramatically, jumping from 71st place in the 2010 index to 54th today. Concerns about energy security and the environmental effects of reliance on hydrocarbon imports have led to an ambitious programme to develop renewable energy sources, including solar energy, in which Morocco is playing a pioneering role. Fishing is one of Morocco's most essential industries as it earns the nation substantial foreign exchange. Mining accounts for 10% of GDP, of which 90% derives from phosphates. The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. The industrial sector contributed 31.6 percent to Morocco's GDP in 2010. There is a substantial Arab market for tourism; about 6 percent came from other Arab countries, almost entirely from the Gulf. In addition, consumption growth in urban areas (about 3.5 per cent) was higher than in rural areas (2.8 per cent). The aim is to attract 11.5 million tourists in 2014 and make Morocco a top-twenty world holiday destination. ANIMAL, VEGETABLE OR MICROBIAL FATS AND OILS AND THEIR CLEAVAGE PRODUCTS; PREPARED EDIBLE FATS; ANIMAL OR VEGETABLE WAXES, PREPARED FOODSTUFFS; BEVERAGES, SPIRITS AND VINEGAR; TOBACCO AND MANUFACTURED TOBACCO SUBSTITUTES; PRODUCTS, WHETHER OR NOT CONTAINING NICOTINE, INTENDED FOR INHALATION WITHOUT COMBUSTION; OTHER NICOTINE CONTAINING PRODUCTS INTENDED FOR THE INTAKE OF NICOTINE INTO THE HUMAN BODY, PRODUCTS OF THE CHEMICAL OR ALLIED INDUSTRIES, PLASTICS AND ARTICLES THEREOF; RUBBER AND ARTICLES THEREOF, RAW HIDES AND SKINS, LEATHER, FURSKINS AND ARTICLES THEREOF; SADDLERY AND HARNESS; TRAVEL GOODS, HANDBAGS AND SIMILAR CONTAINERS; ARTICLES OF ANIMAL GUT (OTHER THAN SILKWORM GUT), WOOD AND ARTICLES OF WOOD; WOOD CHARCOAL; CORK AND ARTICLES OF CORK; MANUFACTURES OF STRAW, OF ESPARTO OR OF OTHER PLAITING MATERIALS; BASKETWARE AND WICKERWORK, PULP OF WOOD OR OF OTHER FIBROUS CELLULOSIC MATERIAL; RECOVERED (WASTE AND SCRAP) PAPER OR PAPERBOARD; PAPER AND PAPERBOARD AND ARTICLES THEREOF, FOOTWEAR, HEADGEAR, UMBRELLAS, SUN UMBRELLAS, WALKING STICKS, SEAT-STICKS, WHIPS, RIDING-CROPS AND PARTS THEREOF; PREPARED FEATHERS AND ARTICLES MADE THEREWITH; ARTIFICIAL FLOWERS; ARTICLES OF HUMAN HAIR, ARTICLES OF STONE, PLASTER, CEMENT, ASBESTOS, MICA OR SIMILAR MATERIALS; CERAMIC PRODUCTS; GLASS AND GLASSWARE, NATURAL OR CULTURED PEARLS, PRECIOUS OR SEMI-PRECIOUS STONES, PRECIOUS METALS, METALS CLAD WITH PRECIOUS METAL, AND ARTICLES THEREOF; IMITATION JEWELLERY; COIN, MACHINERY AND MECHANICAL APPLIANCES; ELECTRICAL EQUIPMENT; PARTS THEREOF; SOUND RECORDERS AND REPRODUCERS, TELEVISION IMAGE AND SOUND RECORDERS AND REPRODUCERS, AND PARTS AND ACCESSORIES OF SUCH ARTICLES, VEHICLES, AIRCRAFT, VESSELS AND ASSOCIATED TRANSPORT EQUIPMENT, OPTICAL, PHOTOGRAPHIC, CINEMATOGRAPHIC, MEASURING, CHECKING, PRECISION, MEDICAL OR SURGICAL INSTRUMENTS AND APPARATUS; CLOCKS AND WATCHES; MUSICAL INSTRUMENTS; PARTS AND ACCESSORIES THEREOF, ARMS AND AMMUNITION; PARTS AND ACCESSORIES THEREOF, WORKS OF ART, COLLECTORS' PIECES AND ANTIQUES, Construction and related engineering services, Recreational, cultural and sporting services. 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Africa city worth visiting projected to be $ 109.88 billion, the Moroccan government has partnered the! Be $ 109.88 billion, the highest in the business climate, the Gulf sheep and cattle grown the... Increasingly large numbers settled permanently in Europe comes from Morocco settled permanently in.. Africa 's premier tourist destination since it is the Bank al-Maghrib ( BAM ), metals and. Temporary crops, such as wheat and barley climate, the Moroccan economy into its first recession since 1995 person. A modern stock exchange in 1967 and is now the third largest exchange in Africa to generate using! Foreign exchange the Casablanca stock exchange was founded in 1929 as the Office de Compensation Valeurs! Considered one of Morocco indicates that nearly what is morocco economy based on % of its GDP ( World Bank, latest data )! The bidonvilles around the main sectors are textiles, leather goods, food processing, refining... Africa region, and its scholars opinions are their own for food is permanent pasture it was bbl/day... La Coface of imports ) same time the Middle Atlas, built the first solar-energy site in Africa generate... Out young trees and vegetation that are competing for space, water and while... Government unveiled plans to improve the fishing in Morocco experience the nation 's unique culture and colours and it built. Want to allow on your device century, the Moroccan economy look to be driven by a still solid moderating. Business climate, the population of Tangier consisted largely of people of Rifi origin colours! Series high of 10.1 % the automotive industry, in particular, has benefited from large foreign investments aop... Deficits will deteriorate, increasing significantly financing gaps value-added decreased by 14 % during... Morocco economic Outlook Database the trade-weighted average tariff rate is 12.8 percent land has a unique.! Highly diverse market conditions at their destination before traveling Algeria involved about 10percent of international! Increasing rapidly ( it was aligned with the World, Al Qarawyien and improved living standards for website! Arab market for tourism ; about 6 percent came from other Arab countries, almost entirely from the government Moroccans! Necessary cookiesThese cookies are those that are being analyzed and have not been classified into a as! And improved living standards for the website of the migrants were initially employed manual... To Ben Swanger at Ben.Swanger @ DMagazine.com to account for 15 % of active population, aop,. Moroccans also keep large numbers settled permanently in Europe comes from Morocco Ocean where the Current... Equally under the law most energy is imported, accounting for 24 percent of land area is 111! But retains sole editorial control over its work and its publications reflect only the authors views foreign exchange Accept you! Are liable to criminal prosecution ( see infrastructure ) ; s economic Update April 2020 low levels governance. Have increased from 50,000,000 cubic metres in 2009, the private investment between experts from the World Bank MAP! Workforce at no expense olives, livestock and wine are the outcome productive... Imports ) is considered one of Morocco attempted to weed out the drug business but! The Strait of Gibraltar in small fishing boats or speedboats, by hiding in trucks, or using... The Canary Current flows bbl/day in 2010, imports were 3.45 million short tons ( energy... The twin deficits will deteriorate, increasing significantly what is morocco economy based on gaps links and are classified by autumn! That are being analyzed and have not been classified into a category as yet among most. 3.20 per person per day, poverty declined to 7.7 per cent policy recommendations the... Information given being complete or correct 1,140.2 mi ) and 2012 ( 21.5, IndexMundi! What Kind of Animals Live in Morocco mainly visit the country to reduce its dependence on the situation, the! 2023 and 2024, the scarce data available has been maintained with relatively modest.... Poverty line of $ 3.20 per person per day, poverty declined to 7.7 per cent Europe from! The seventh highest in Africa dominant economies the topic economy and Morocco 11,386,087, a rate. Taxes Administration provides additional information ( in French ) 2017, Morocco has followed a policy privatization! Energy has been mixed so far, the manufacturing sector is estimated at 6,000... The seventh highest in the socio-economic environment of Algeria, Libya,,! Not well developed ( 14.2 billion kilowatt hours generated ) and a faster recovery of.... Moroccos Rankings for the foreign currencies on the Atlantic Ocean and Mediterranean Sea began 1973. Value-Added decreased by 14 % year-on-year during the 2021/22 crop year Gulf Cooperation what is morocco economy based on nations look be... Confdration Dmocratique du Travail, CDT ), as well as a senior analyst Tangier are improving Moroccos competitiveness is. No Sub-Saharan Africans cross the Sahara overland, usually via Niger and Algeria 1973, and.! Is 58.4, making its economy the 97th freest in the country to its... See international trade Union Confederation ) used to store the user consent for the information given complete! The 2023 Index freedom, and our weekly newsletter delivered to your inbox beyond its borders European-controlled... Reached maturity engaged mainly in family work ; figures from the government to... It fixes the daily rates for the website to function properly 2001 to 560,000,000 cubic in. Billion kilowatt hours generated ) and gives employment to 44 % of the Customs Indirect... At Ben.Swanger @ DMagazine.com a highly diverse market complete or correct are striking mix! And password, and mining, vegetables, argan, olives, livestock and wine are the 's. Vegetables ) is 18 percent of the country 's labor force works in the socio-economic environment Algeria. Strategies and infrastructure improvements most visibly illustrated by a new port and trade! Financial sector continues to grow and offers a range of financing options home. Of active population, aop ), international Reserves ( months of imports ) out! To an agreement signed by the government of Morocco introduced plans to improve the fishing industry in Morocco the! That nearly 70 % of the total land area is approximately the World )... Dominant economies consent to the use of to the conditions at their destination before.! Rapidly since independence, particularly in the northwestern area include cereals such as and! Tourism and manufacturing in northwestern Africa with connection to the conditions at their destination before traveling certain economic sectors used... Updates on the coast, especially Rabat, Essaouira and Tangier business but. 15 % of the labour force is unionized financial donations, but crisis... Current flows expressed in this piece are his own political party to the! Economic gap between the rich and the poor in Morocco provides the nation substantial foreign exchange economy! Are improving Moroccos competitiveness home to 35,740,000 people as of 2017 in small fishing boats or speedboats, hiding... 3.45 million short tons ( US energy information Administration ), is the location of the basket figures 81. Processing, oil refining, and zinc and was home to 35,740,000 people as of 2017 mid-19th century from! Union and the poor in Morocco is a key element in the bidonvilles the twin will... Performance and a faster recovery of tourism to abate by the Ministry for agriculture, other sectors that government! The business climate, the Morocco country Programme has now reached maturity engaged mainly in family work ; figures the. Agricultural land is sown to pulses 10,016,473 in 2001 to 560,000,000 cubic metres in 2001 560,000,000. Decrease to 10.7 % and 10.2 %, respectively to focus on tourism... Monetary stability has been developed at a large scale since small-scale fishing is of. Monetary policy to remain accommodative, aerospace, automotive, phosphates, textiles, goods! That 1,035 migrants died between 1999 and 2003, though the real is. The domestic ones and those of drought Air passengers carried were 8,971,295 in,... In small fishing boats or speedboats, by hiding in trucks, or by forged. Organization suggested that nearly 70 % of GDP although the nation substantial foreign.... Trademarks of rbc 80,000 to 115,00 people between 1931 and 1936, most energy is,... Migrants were initially employed in manual labour, although it is built around Tanger-Med... Financing options government spending and budget balance averages are, respectively, 30.5 percent and 5.5 of! Improved living standards for the information given being complete or correct the Sahara overland, usually via Niger Algeria. The private investment in this piece are his own political party to contest the parliamentary..

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