Morocco

Click here for more Africa Links and Resources

Click here for more Middle East Links and Resources

FITA helps you find
service providers for:

Market Research

Economic and political outline

Economic indicators | Foreign Trade in figures | Sources of general economic information | Political outline

Economic indicators

During the last few years, the Moroccan economy has been characterized by macro-economic stability, coupled with low inflation and a relatively slow economic growth. The government continues to adopt economic reforms and pursue the economic liberalization drive in order to stimulate growth and create jobs.
The GDP growth rate is having trouble stabilizing. Nevertheless, the soundness of the essential economy of Morocco and the increasing attractiveness of the Sharifian kingdom, ensure that despite the financial crisis, the country will still show GDP growth in the coming years. Nevertheless, this growth will be insufficient to diminish poverty and reduce the significant rate of unemployment. The country's economy remains largely dependent on the agricultural sector, which is extremely vulnerable to drought. The significant foreign debts and the budgetary balance which is highly in deficit are also cause for concern.

Main indicators	2006	2007	2008	2009	2010
GDP (billions USD)	65.64	75.12e	86.39	84.65	90.61
GDP (constant prices, annual % change)	7.8	2.7	5.4e	4.4	4.4
GDP per capita (USD)	2,142e	2,423e	2,748	2,655e	2,803
Inflation rate (%)	3.3	2.0	3.9e	3.0e	2.8
Unemployment rate (% of the labor force)	9.7	9.8	-	-	-
Current Account (billions USD)	1.41	0.12	-4.81	-2.10	-2.71
Current Account (in % of GDP)	2.2	0.2	-5.6e	-2.5	-3.0

Source: IMF - World Economic Outlook Database

Note: (e) Estimated data

Main sectors of industry

The agricultural sector is dominant in Morocco with almost half of the active population being employed in the sector, and which contributes around 13% to the GDP. Grains, fruits and vegetables are the country's main crops. Economic growth relies excessively on this sector. Morocco has little by way of mineral resources; phosphates being its main wealth. Industry contributes around one-third of the GDP, thanks to the textiles, leather goods, food processing, oil refining, and electronic assembling sectors.
The tertiary sector contributes around 60% of the GDP and depends exclusively on tourism, which remains very dynamic despite the economic slowdown brought about by the attacks of September 11, 2001 and the Casablanca May 2003 . Other than granting concessions for a lot of public services in the major towns, the country recently liberalized oil and gas exploration regulations. Calls for tender procedures have become increasingly transparent.

Breakdown of economic activity by sector	Agriculture	Industry	Services
Employment by sector (in % of total employment)	44.6	19.8	35.5
Value added (in % of GDP)	13.7	27.3	59.0
Value added (annual % change)	-20.4	6.6	7.1

- last available data.

Monetary indicators	2004	2005	2006	2007	2008
Moroccan Dirham (MAD) - Average annual exchange rate for 1 USD	8.87	8.87	8.80	8.19	7.75

Source: World Bank - World Development Indicators

Indicator of economic freedom

Score:: 57.7/100
Position:: mostly unfree
World Rank:: 101 out of 179
Regional Rank:: 12 out of 18

Distribution of Economic freedom in the world
Source: 2008 Index of Economic freedom, Heritage Foundation

Country risk

See the country risk analysis provided by Ducroire.

Foreign trade in figures

Morocco's trade deficit worsened considerably in 2008, mainly because of the rise in cereal imports related to the low levels of rainfall recorded in that year and the high energy bill. Thus the increase in exports could not compensate for the increase in imports. However, the fall in oil prices should absorb the trade deficit in the coming years.
Morroco's two main export partners of are the European Union and the United States. The main export commodities are clothing & clothes, electric machinery, inorganic chemicals, fish & other seafoods.
Morroco's two main import partners are the European Union and China. The countrry mainly imports fuels & oil, electric and electronic machinery and equipment, vehicles, iron and steel.

Foreign trade indicators	2003	2004	2005	2006	2007
Imports of goods (millions USD)	13,117	16,408	18,894	21,683	29,316
Exports of goods (millions USD)	8,771	9,922	10,690	11,926	15,146
Imports of services (millions USD)	2,861	3,451	3,845	4,473	5,416
Exports of services (millions USD)	5,478	6,710	8,098	9,789	12,165
Imports of goods and services (annual % change)	7.1	9.9	9.6	8.2	15.0
Exports of goods and services (annual % change)	0.6	6.3	13.3	11.6	5.2
Imports of goods and services (in % of GDP)	31.5	34.3	37.9	39.7	44.9
Exports of goods and services (in % of GDP)	28.7	29.4	32.3	34.2	35.8
Trade Balance (millions USD)	-4,345	-6,487	-8,204	-9,756	-14,170
Trade Balance (including service) (millions USD)	-1,728	-3,228	-3,951	-4,441	-7,421
Foreign trade (in % of GDP)	60.2	63.7	70.2	73.9	80.7

Source: World Bank

Main partner countries

Main customers (% of exports)	2007
France	27.9%
Spain	20.8%
United Kingdom	5.2%
Italy	5.1%
India	3.8%
Brazil	3.2%
Netherlands	2.6%
Belgium	2.5%
Germany	2.5%
United States	2.4%
Portugal	1.8%
Greece	1.3%
Russia	1.3%
Switzerland	1.1%
Japan	1.1%
Turkey	0.9%
China	0.8%
Pakistan	0.8%
Canada	0.7%
Tunisia	0.6%
See more countries	37.2%

Main suppliers (% of imports)	2007
France	15.8%
Spain	10.4%
Italy	6.4%
United States	6.1%
China	5.9%
Saudi Arabia	5.5%
Russia	5.0%
Germany	4.8%
Netherlands	3.1%
United Kingdom	2.7%
Turkey	2.7%
Iran	2.5%
Algeria	2.5%
Belgium	1.8%
Brazil	1.8%
Japan	1.7%
Sweden	1.6%
Argentina	1.4%
South Korea	1.4%
Portugal	1.2%
See more countries	55.4%

Source: Comtrade

Main products

Main exports (% of exports)	2007
Articles of apparel and clothing accessories, not...Articles of apparel and clothing accessories, not knitted or crocheted	17.2%
Electrical machinery and equipment and parts...Electrical machinery and equipment and parts thereof; sound recorders and reproducers, television image and sound recorders and reproducers, and parts and accessories of such articles	14.3%
Inorganic chemicals; organic or inorganic...Inorganic chemicals; organic or inorganic compounds of precious metals, of rare-earth metals, of radioactive elements or of isotopes	7.5%
Articles of apparel and clothing accessories,...Articles of apparel and clothing accessories, knitted or crocheted	6.6%
FertilizersFertilizers	6.0%
Fish and crustaceans, molluscs and other aquatic...Fish and crustaceans, molluscs and other aquatic invertebrates	5.7%
Salt; sulphur; earths and stone; plastering...Salt; sulphur; earths and stone; plastering materials, lime and cement	5.4%
Mineral fuels, mineral oils and products of their...Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes	3.8%
Preparations of meat, of fish or of crustaceans,...Preparations of meat, of fish or of crustaceans, molluscs or other aquatic invertebrates	3.3%
Edible vegetables and certain roots and tubersEdible vegetables and certain roots and tubers	3.1%
Edible fruit and nuts; peel of citrus fruits or...Edible fruit and nuts; peel of citrus fruits or melons	3.1%
Footwear, gaiters and the like; parts of such...Footwear, gaiters and the like; parts of such articles	2.3%
Iron and steelIron and steel	1.4%
Ores, slag and ashOres, slag and ash	1.4%
Vehicles other than railway or tramway...Vehicles other than railway or tramway rolling-stock, and parts and accessories thereof	1.1%
Preparations of vegetables, fruit, nuts or other...Preparations of vegetables, fruit, nuts or other parts of plants	1.1%
Copper and articles thereofCopper and articles thereof	0.9%
Impregnated, coated, covered or laminated textile...Impregnated, coated, covered or laminated textile fabrics; textile articles of a kind suitable for industrial use	0.9%
Nuclear reactors, boilers, machinery and...Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof	0.9%
Lead and articles thereofLead and articles thereof	0.7%
Natural or cultured pearls, precious or...Natural or cultured pearls, precious or semi-precious stones, precious metals, metals clad with precious metal, and articles thereof; imitation jewellery; coin	0.7%
Dairy produce; birds' eggs; natural honey; edible...Dairy produce; birds' eggs; natural honey; edible products of animal origin, not elsewhere specified or included	0.7%
Articles of iron or steelArticles of iron or steel	0.7%
Other base metals; cermets; articles thereofOther base metals; cermets; articles thereof	0.6%
Plastics and articles thereofPlastics and articles thereof	0.6%
Furniture; bedding, mattresses, mattress supports,...Furniture; bedding, mattresses, mattress supports, cushions and similar stuffed furnishings; lamps and lighting fittings, not elsewhere specified or included; illuminated signs, illuminated name-plates and the like; prefabricated buildings	0.5%
Oil seeds and oleaginous fruits; miscellaneous...Oil seeds and oleaginous fruits; miscellaneous grains, seeds and fruit; industrial or medicinal plants; straw and fodder	0.5%
Pulp of wood or of other fibrous cellulosic...Pulp of wood or of other fibrous cellulosic material; recovered (waste and scrap) paper or paperboard	0.5%
Animal or vegetable fats and oils and their...Animal or vegetable fats and oils and their cleavage products; prepared edible fats; animal or vegetable waxes	0.4%
Aluminium and articles thereofAluminium and articles thereof	0.4%
Articles of leather; saddlery and harness; travel...Articles of leather; saddlery and harness; travel goods, handbags and similar containers; articles of animal gut (other than silkworm gut)	0.4%
Paper and paperboard; articles of paper pulp, of...Paper and paperboard; articles of paper pulp, of paper or of paperboard	0.4%
Essential oils and resinoids; perfumery, cosmetic...Essential oils and resinoids; perfumery, cosmetic or toilet preparations	0.4%
Miscellaneous edible preparationsMiscellaneous edible preparations	0.4%
Wood and articles of wood; wood charcoalWood and articles of wood; wood charcoal	0.3%
CottonCotton	0.3%
Ceramic productsCeramic products	0.3%
Products of the milling industry; malt; starches;...Products of the milling industry; malt; starches; inulin; wheat gluten	0.3%
Man-made staple fibresMan-made staple fibres	0.3%
Pharmaceutical productsPharmaceutical products	0.3%
Other made-up textile articles; sets; worn...Other made-up textile articles; sets; worn clothing and worn textile articles; rags	0.3%
Lac; gums, resins and other vegetable saps and...Lac; gums, resins and other vegetable saps and extracts	0.3%
Products of animal origin, not elsewhere specified...Products of animal origin, not elsewhere specified or included	0.2%
Residues and waste from the food industries;...Residues and waste from the food industries; prepared animal fodder	0.2%
Aircraft, spacecraft, and parts thereofAircraft, spacecraft, and parts thereof	0.2%
Optical, photographic, cinematographic, measuring,...Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof	0.2%
Ships, boats and floating structuresShips, boats and floating structures	0.2%
Beverages, spirits and vinegarBeverages, spirits and vinegar	0.2%
Raw hides and skins (other than furskins) and...Raw hides and skins (other than furskins) and leather	0.2%
Articles of stone, plaster, cement, asbestos, mica...Articles of stone, plaster, cement, asbestos, mica or similar materials	0.2%
Knitted or crocheted fabricsKnitted or crocheted fabrics	0.1%
Soap, organic surface-active agents, washing...Soap, organic surface-active agents, washing preparations, lubricating preparations, artificial waxes, prepared waxes, polishing or scouring preparations, candles and similar articles, modelling pastes, 'dental waxes' and dental preparations with a basis of plaster	0.1%
Cork and articles of corkCork and articles of cork	0.1%
Carpets and other textile floor coveringsCarpets and other textile floor coverings	0.1%
Sugars and sugar confectionerySugars and sugar confectionery	0.1%
Coffee, tea, maté and spicesCoffee, tea, maté and spices	0.1%
See more products	48.4%

Main imports (% of imports)	2007
Mineral fuels, mineral oils and products of their...Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes	20.0%
Nuclear reactors, boilers, machinery and...Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof	10.4%
Electrical machinery and equipment and parts...Electrical machinery and equipment and parts thereof; sound recorders and reproducers, television image and sound recorders and reproducers, and parts and accessories of such articles	9.9%
Vehicles other than railway or tramway...Vehicles other than railway or tramway rolling-stock, and parts and accessories thereof	7.0%
CerealsCereals	5.5%
Iron and steelIron and steel	4.4%
Plastics and articles thereofPlastics and articles thereof	3.9%
CottonCotton	2.5%
Articles of iron or steelArticles of iron or steel	1.7%
Wood and articles of wood; wood charcoalWood and articles of wood; wood charcoal	1.7%
Man-made staple fibresMan-made staple fibres	1.5%
Organic chemicalsOrganic chemicals	1.4%
Paper and paperboard; articles of paper pulp, of...Paper and paperboard; articles of paper pulp, of paper or of paperboard	1.4%
Salt; sulphur; earths and stone; plastering...Salt; sulphur; earths and stone; plastering materials, lime and cement	1.4%
Animal or vegetable fats and oils and their...Animal or vegetable fats and oils and their cleavage products; prepared edible fats; animal or vegetable waxes	1.3%
Copper and articles thereofCopper and articles thereof	1.2%
Optical, photographic, cinematographic, measuring,...Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof	1.1%
Knitted or crocheted fabricsKnitted or crocheted fabrics	1.1%
Pharmaceutical productsPharmaceutical products	1.0%
Miscellaneous chemical productsMiscellaneous chemical products	1.0%
Aluminium and articles thereofAluminium and articles thereof	1.0%
Oil seeds and oleaginous fruits; miscellaneous...Oil seeds and oleaginous fruits; miscellaneous grains, seeds and fruit; industrial or medicinal plants; straw and fodder	0.9%
Inorganic chemicals; organic or inorganic...Inorganic chemicals; organic or inorganic compounds of precious metals, of rare-earth metals, of radioactive elements or of isotopes	0.9%
Rubber and articles thereofRubber and articles thereof	0.8%
Residues and waste from the food industries;...Residues and waste from the food industries; prepared animal fodder	0.8%
Sugars and sugar confectionerySugars and sugar confectionery	0.8%
Aircraft, spacecraft, and parts thereofAircraft, spacecraft, and parts thereof	0.8%
Man-made filamentsMan-made filaments	0.8%
Furniture; bedding, mattresses, mattress supports,...Furniture; bedding, mattresses, mattress supports, cushions and similar stuffed furnishings; lamps and lighting fittings, not elsewhere specified or included; illuminated signs, illuminated name-plates and the like; prefabricated buildings	0.7%
Dairy produce; birds' eggs; natural honey; edible...Dairy produce; birds' eggs; natural honey; edible products of animal origin, not elsewhere specified or included	0.7%
Miscellaneous manufactured articlesMiscellaneous manufactured articles	0.6%
Tanning or dyeing extracts; tannins and their...Tanning or dyeing extracts; tannins and their derivatives; dyes, pigments and other colouring matter; paints and varnishes; putty and other mastics; inks	0.6%
Coffee, tea, maté and spicesCoffee, tea, maté and spices	0.6%
Essential oils and resinoids; perfumery, cosmetic...Essential oils and resinoids; perfumery, cosmetic or toilet preparations	0.5%
Special woven fabrics; tufted textile fabrics;...Special woven fabrics; tufted textile fabrics; lace; tapestries; trimmings; embroidery	0.5%
FertilizersFertilizers	0.5%
Articles of apparel and clothing accessories, not...Articles of apparel and clothing accessories, not knitted or crocheted	0.5%
Articles of apparel and clothing accessories,...Articles of apparel and clothing accessories, knitted or crocheted	0.4%
Railway or tramway locomotives, rolling-stock and...Railway or tramway locomotives, rolling-stock and parts thereof; railway or tramway track fixtures and fittings and parts thereof; mechanical (including electro-mechanical) traffic signalling equipment of all kinds	0.4%
Printed books, newspapers, pictures and other...Printed books, newspapers, pictures and other products of the printing industry; manuscripts, typescripts and plans	0.4%
Glass and glasswareGlass and glassware	0.4%
Wadding, felt and nonwovens; special yarns; twine,...Wadding, felt and nonwovens; special yarns; twine, cordage, ropes and cables and articles thereof	0.4%
Raw hides and skins (other than furskins) and...Raw hides and skins (other than furskins) and leather	0.4%
Wool, fine or coarse animal hair; horsehair yarn...Wool, fine or coarse animal hair; horsehair yarn and woven fabric	0.4%
Miscellaneous articles of base metalMiscellaneous articles of base metal	0.3%
Impregnated, coated, covered or laminated textile...Impregnated, coated, covered or laminated textile fabrics; textile articles of a kind suitable for industrial use	0.3%
Ceramic productsCeramic products	0.3%
Footwear, gaiters and the like; parts of such...Footwear, gaiters and the like; parts of such articles	0.3%
Tobacco and manufactured tobacco substitutesTobacco and manufactured tobacco substitutes	0.3%
Tools, implements, cutlery, spoons and forks, of...Tools, implements, cutlery, spoons and forks, of base metal; parts thereof of base metal	0.3%
Preparations of cereals, flour, starch or milk;...Preparations of cereals, flour, starch or milk; pastrycooks' products	0.2%
Zinc and articles thereofZinc and articles thereof	0.2%
Articles of stone, plaster, cement, asbestos, mica...Articles of stone, plaster, cement, asbestos, mica or similar materials	0.2%
Edible fruit and nuts; peel of citrus fruits or...Edible fruit and nuts; peel of citrus fruits or melons	0.2%
Soap, organic surface-active agents, washing...Soap, organic surface-active agents, washing preparations, lubricating preparations, artificial waxes, prepared waxes, polishing or scouring preparations, candles and similar articles, modelling pastes, 'dental waxes' and dental preparations with a basis of plaster	0.2%
Ores, slag and ashOres, slag and ash	0.2%
Edible vegetables and certain roots and tubersEdible vegetables and certain roots and tubers	0.2%
Ships, boats and floating structuresShips, boats and floating structures	0.2%
Beverages, spirits and vinegarBeverages, spirits and vinegar	0.2%
Live animalsLive animals	0.2%
Albuminoidal substances; modified starches; glues;...Albuminoidal substances; modified starches; glues; enzymes	0.2%
Fish and crustaceans, molluscs and other aquatic...Fish and crustaceans, molluscs and other aquatic invertebrates	0.2%
Natural or cultured pearls, precious or...Natural or cultured pearls, precious or semi-precious stones, precious metals, metals clad with precious metal, and articles thereof; imitation jewellery; coin	0.1%
Toys, games and sports requisites; parts and...Toys, games and sports requisites; parts and accessories thereof	0.1%
Other vegetable textile fibres; paper yarn and...Other vegetable textile fibres; paper yarn and woven fabrics of paper yarn	0.1%
SilkSilk	0.1%
Articles of leather; saddlery and harness; travel...Articles of leather; saddlery and harness; travel goods, handbags and similar containers; articles of animal gut (other than silkworm gut)	0.1%
Miscellaneous edible preparationsMiscellaneous edible preparations	0.1%
Preparations of vegetables, fruit, nuts or other...Preparations of vegetables, fruit, nuts or other parts of plants	0.1%
Photographic or cinematographic goodsPhotographic or cinematographic goods	0.1%
Products of animal origin, not elsewhere specified...Products of animal origin, not elsewhere specified or included	0.1%
Other made-up textile articles; sets; worn...Other made-up textile articles; sets; worn clothing and worn textile articles; rags	0.1%
Meat and edible meat offalMeat and edible meat offal	0.1%
Clocks and watches and parts thereofClocks and watches and parts thereof	0.1%
See more products	47.2%

Source: Comtrade

See more products: More imports (Intracen Data)
More exports (Intracen Data)

Sources of general economic information

Ministries: Department for Finances
Department for Equipment and Transport
Department of Trade and Industry and New Technologies
Department of Energy and Mines
Department of Tourism
Department of Economic and General Affairs
Overseas Trade Department
Statistical Office: High Commissioner for Planning
Central Bank: Bank Al-Maghrib
Stock Exchange: Casablanca stock exchange
Search Engines: WoYaa Maroc
Maroc.net
Maroc Export
Marweb Maroc
Wanadoo
Economic portals: Finance.ma
1st Maroc
Entreprendre.ma

Political outline

Executive Power: Executive power is exercised by the King. He appoints the Prime Minister and members of the Government, directly heads sovereignty fields (Domestic, Foreign affairs, Defense, Religious affairs) and can intervene in the other sectors through Dahir (royal decree).
The Government provides execution of the laws and the administrative apparatus. It is run by the Prime Minister who coordinates its action, passes decrees and submits a program to the Parliament.
Legislative Power: The Parliament comprises the Chamber of Representatives (325 deputies elected by universal direct suffrage for 5 years) and the Chamber of Counselors (270 members elected by indirect universal suffrage for 9 years).
The Parliament votes the law; any bill must be successively examined by the 2 Houses. It moreover shares the initiative of the laws with the Prime Minister.
Main political parties: Morocco has a multi-party system, the parties are numerous and a single party has no chance of gaining power. The parties must get together to form coalition governments. Among the principal parties of the country, one finds:
- The USFP (Forces of the Popular Socialist Union) - left socialist party,
- The PI (Independence Party) - nationalist party,
- The PJD (Justice and Development Party) - islamic party,
- the RNI (National Rally of Independents) - party of independent candidates.
Current political leaders: King: MOHAMED VI (since July 1999) - hereditary
Prime Minister: Abbas EL FASSI (since September 2007).
Next election dates: Chamber of Counselors: in 2009
Chamber of Representatives: in 2012

Indicator of freedom of the press

World Rank:: 122/173
Evolution:: 16 places down compared to 2007

Source: Worldwide Press Freedom Index 2007, Reporters Without Borders

Indicator of political freedom

Ranking:: Partly Free
Political freedom:: 5/7
Civil liberties:: 4/7

Any comments about this content? Report it to us.