Economy - overview:
Morocco has capitalized on its proximity to Europe and relatively low labor costs to build a diverse, open, market-oriented economy. In the 1980s Morocco was a heavily indebted country before pursuing austerity measures and pro-market reforms, overseen by the IMF. Since taking the throne in 1999, King MOHAMMED VI has presided over a stable economy marked by steady growth, low inflation, and gradually falling unemployment, although a poor harvest and economic difficulties in Europe contributed to an economic slowdown in 2012. Industrial development strategies and infrastructure improvements - most visibly illustrated by a new port and free trade zone near Tangier - are improving Morocco's competitiveness. Morocco also seeks to expand its renewable energy capacity with a goal of making renewable 40% of electricity output by 2020. Key sectors of the economy include agriculture, tourism, phosphates, textiles, apparel, and subcomponents. To boost exports, Morocco entered into a bilateral Free Trade Agreement with the United States in 2006 and an Advanced Status agreement with the European Union in 2008. Despite Morocco's economic progress, the country suffers from high unemployment, poverty, and illiteracy, particularly in rural areas. In 2011 and 2012, high prices on fuel - which is subsidized and almost entirely imported - strained the government''s budget and widened the country''s current account deficit. Key economic challenges for Morocco include fighting corruption and reforming the education system, the judiciary, and the government''s costly subsidy program.
GDP (purchasing power parity): GDP (official exchange rate): GDP - real growth rate: GDP - per capita (PPP): Gross national saving: GDP - composition, by end use: GDP - composition, by sector of origin: Agriculture - products: Industries: Industrial production growth rate: Labor force: Labor force - by occupation: Unemployment rate: Population below poverty line: Household income or consumption by percentage share: Distribution of family income - Gini index: Budget: Taxes and other revenues: Budget surplus (+) or deficit (-): Public debt: Fiscal year: Inflation rate (consumer prices): Central bank discount rate: Commercial bank prime lending rate: Stock of narrow money: Stock of broad money: Stock of domestic credit: Market value of publicly traded shares: Current account balance: Exports: Exports - commodities: Exports - partners: Imports: Imports - commodities: Imports - partners: Reserves of foreign exchange and gold: Debt - external: Stock of direct foreign investment - at home: Stock of direct foreign investment - abroad: Exchange rates:
NOTE: 1) The information regarding Morocco on this page is re-published from the 2014 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Morocco Economy 2014 information contained here. All suggestions for corrections of any errors about Morocco Economy 2014 should be addressed to the CIA.
$168.9 billion (2012 est.)
country comparison to the world: 60
note:
data are in 2012 US dollars
[see also: GDP country ranks ]
$94.83 billion (2012 est.)
[see also: GDP (official exchange rate) country ranks ]
2.7% (2012 est.)
country comparison to the world: 120
[see also: GDP - real growth rate country ranks ]
$5,200 (2012 est.)
country comparison to the world: 154
note:
data are in 2012 US dollars
[see also: GDP - per capita country ranks ]
25.1% of GDP (2012 est.)
country comparison to the world: 47
[see also: Gross national saving country ranks ]
household consumption: 59.7%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption:
19.2%
investment in fixed capital:
31.4%
investment in inventories:
3.9%
exports of goods and services:
36.2%
imports of goods and services:
-50.4%
agriculture: 15.1%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry:
31.7%
services:
53.2% (2012 est.)
barley, wheat, citrus fruits, grapes, vegetables, olives; livestock; wine
phosphate rock mining and processing, food processing, leather goods, textiles, construction, energy, tourism
0.7% (2012 est.)
country comparison to the world: 128
[see also: Industrial production growth rate country ranks ]
11.53 million (2012 est.)
country comparison to the world: 47
[see also: Labor force country ranks ]
agriculture: 44.6%
[see also: Labor force - by occupation - agriculture country ranks ]
industry:
19.8%
services:
35.5% (2006 est.)
9% (2012 est.)
country comparison to the world: 101
[see also: Unemployment rate country ranks ]
15% (2007 est.)
[see also: Population below poverty line country ranks ]
lowest 10%: 2.7%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%:
33.2% (2007)
40.9 (2007 est.)
country comparison to the world: 55
[see also: Distribution of family income - Gini index country ranks ]
revenues: $25.35 billion
[see also: Budget revenues country ranks ]
expenditures:
$33.32 billion (2012 est.)
26.7% of GDP (2012 est.)
country comparison to the world: 112
[see also: Taxes and other revenues country ranks ]
-8.4% of GDP (2012 est.)
country comparison to the world: 193
[see also: Budget surplus (+) or deficit (-) country ranks ]
71.2% of GDP (2012 est.)
country comparison to the world: 35
[see also: Public debt country ranks ]
calendar year
1.2% (2012 est.)
country comparison to the world: 20
[see also: Inflation rate (consumer prices) country ranks ]
6.5% (31 December 2010 est.)
country comparison to the world: 99
[see also: Central bank discount rate country ranks ]
6.3% (31 December 2012 est.)
country comparison to the world: 137
[see also: Commercial bank prime lending rate country ranks ]
$71.51 billion (31 December 2012 est.)
country comparison to the world: 42
[see also: Stock of narrow money country ranks ]
$107.2 billion (31 December 2011 est.)
country comparison to the world: 53
[see also: Stock of broad money country ranks ]
$111.6 billion (31 December 2012 est.)
country comparison to the world: 50
[see also: Stock of domestic credit country ranks ]
$60.09 billion (31 December 2011)
country comparison to the world: 49
[see also: Market value of publicly traded shares country ranks ]
$-9.843 billion (2012 est.)
country comparison to the world: 176
[see also: Current account balance country ranks ]
$16.99 billion (2012 est.)
country comparison to the world: 76
[see also: Exports country ranks ]
clothing and textiles, electric components, inorganic chemicals, transistors, crude minerals, fertilizers (including phosphates), petroleum products, citrus fruits, vegetables, fish
France 21%, Spain 17.3%, Brazil 5.4%, India 4.9%, US 4.6% (2012)
$38.88 billion (2012 est.)
country comparison to the world: 61
[see also: Imports country ranks ]
crude petroleum, textile fabric, telecommunications equipment, wheat, gas and electricity, transistors, plastics
Spain 13.1%, France 12.1%, China 6.9%, US 6.8%, Saudi Arabia 6.2%, Italy 5.1%, Russia 5%, Germany 4.9% (2012)
$17.54 billion (31 December 2012 est.)
country comparison to the world: 61
[see also: Reserves of foreign exchange and gold country ranks ]
$32.15 billion (31 December 2012 est.)
country comparison to the world: 70
[see also: Debt - external country ranks ]
$48.18 billion (31 December 2012 est.)
country comparison to the world: 54
[see also: Stock of direct foreign investment - at home country ranks ]
$2.423 billion (31 December 2012 est.)
country comparison to the world: 72
[see also: Stock of direct foreign investment - abroad country ranks ]
Moroccan dirhams (MAD) per US dollar -
2) The rank that you see is the CIA reported rank, which may habe the following issues:
a) They assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order
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This page was last modified 06-Nov-14