Economy of Morocco

The Moroccan economy evolves/moves on a relatively fast growth rate. It recorded during the ten last years an average growth rate of 3%. Indeed, in 2001 and in a context of against performance of the agricultural sector, of moroseness of the international conjuncture, the Moroccan economy recorded a growth rate estimated at 6,5  % against 1  % in 2000, 3,2  % in 2002, 5,5  % in 2003 and more than 9,0% in 2006 (the rate highest of the Maghreb).

Financial balances are gradually restored. From 12% of the gross domestic product (PIB) in 1982, the budget deficit was brought back to 2,7 in 2001 and 3.5% in 2003.

Inflation is controlled: from 6,1% in 1995, the rise of the prices was brought back under the bar of the 3%. In 2000, it was contained to 2,5%, 1.4% in 2001, 2.1% in 2002, to 1.2 in 2003 and 1,5 in 2006.

The Moroccan public foreign debt was established to approximately 13,6 billion dollars at the end of the year 2006, thus recording a light fall of 0,6%, whereas the rate of debt foreign improved of 2,3 points of the GDP, to pass to less than 20%.

The resumption of the investment is also very clear in the assessment of the year 2003. This recovery knew a rise of 8% compared to 2002. The launching of great work in the sector of the construction industry largely explains this clearing of the investments.

Another sign of macroeconomic consolidation, the level of the national saving which is around 26% of the GDP, grace primarily to the progression of the transfers of the Morrocans resident abroad (4.7%), with the maintenance with an elevated level of the placements of the external assets abroad and with the fall of the loads and interests of the public foreign debt.

Thus the Moroccan economy has an operational macroeconomic framework likely to constitute an effective lever for the realization of the durable growth targets, of resorption of unemployment and reduction of poverty.

Morocco had a4 notation by Coface, and it improves the prospect for its notation for its long-term debt in currencies of “stable” with “positive”, according to the credit rating agency Standard & Poor' S of BB it passes has BB+ in April 2007.

General presentation

Today the Morocco belongs to the category of the emergent Pays, as well as the India or the Turkey.

Morocco lays out of a liberal market economy governed by the law of supply and demand (although today certain economic sectors still remain in the hands of the government).

The economic system of the country presents several facets. It is characterized by a large opening towards outside, for this reason we can quote the various agreements of free trade which Morocco ratified with its principal economic partners:

  • the agreement of free trade with the European Union in the objective to integrate to it (ZLE) European Zone of Free trade into the horizon 2012.

  • the Agreement of Agadir, signed with the Egypt, the Jordan, and the Tunisia, within the framework of the installation of the Arab Zone of Free trade.
  • the agreement of free trade with the United Arab Emirates.
  • the agreement of free trade with the Turkey.
  • And lately the agreement of free trade with the the United States returned into force on January 1st 2006.

Morocco is among one of the rare Arab countries, as well as the Lebanon and the Palestine, not to have gas resources and oil.

Morocco is first producer country and exporting of cannabis.

It exports each year nearly two million square meters of carpet to the colors and the varied reasons.

The cereals (corn and barley) occupy 50% of the arable lands. Important for the economy, these cultures suffer from methods still sometimes antiquated. The women in particular harvest with the sickle.

As of independence, the leaders decided to exploit the immediate possibilities that the country offered. The governmental objectives, had several goals:

  • Of which the valorization of the rural, and agricultural of the country in order to build agriculture, modern and powerful aspect, in spite of the climatic conditions from which the country suffers. This in the objective to feed export, the interior markets of the country, and agribusiness industry. It as should be noted as the fisheries sector strongly contributes to exports.

  • the authorities chose the exploitation with large scales of the phosphate layers whose country has approximately 1/3 of world reserves known to date, thus involving the installation of an important chemical pole for their transformations and their developments.
  • the sector of the processing industry is not remained in remainder, since the country always seeks to attract foreign investors more and more. The government aims at the reinforcement of several sectors like the textile, the light processing industries, the mechanical engineering industry, automobile, pharmaceutical, electronic, new technologies and lately the sector of aeronautics thanks to the national companies and especially also with the many delocalizations European in this field towards Morocco.
  • In Morocco the development of tourism held an great attention on behalf of the government besides this last since always strongly encouraged the Moroccan private investors and the large international groups to invest massively in this sector.
  • the development of the tertiary field strongly accelerated since more than one ten years, with in particular, the sectors of the bank, finance, large distribution, mobile telephony and the offshoring (delocalization of the centers of calls, and services, as well as European software firms…)

Today the great reforms and the large building sites started by the country started to give good performances, in particular with the continuous rise of GNP, and this even during the bad agricultural seasons due to very acute periods of dryness.

GDP

according to last information and declarations of the 1st minister the GDP in 2006 is higher than 1200 billion dirhams is 4600$/habitant. But Morocco always remains behind the power of South Africa, Algeria and Nigeria.

Distribution of the GDP in 2006

  • agriculture: 17,7%
  • industry: 35.7%
  • services: 46.6%

Morocco in figures

Rate of illiteracy (2006):

  • Urbain = Male: 7,1% | Female: 15,1%

  • Rural = Male: 28,9% | Female: 68,7%

Rate of equipment (2006) in:

  • Refrigerating = Urbain: 94,8% | Rural: 71,5%

  • Television set = Urbain: 98,4% | Rural: 80,2%

  • Car = Urbain: 86% | Rural: 47,8%

Conditions of habitat (2006) access:

  • Drinking water = Urbain: 96,5% | Rural: 63,5%

  • Electricity = Urbain: 94,9% | Rural: 67,3%

  • Telephone = Urbain: 99,7% | Rural: 91,3%

Moroccan GNP in 2006

2006: Economic indicators in the green and this of then 1999 All the economic indicators emphasize that the year 2006 was " excellente" , and without precedent in the history of Morocco.

" The structuring projects which were launched will arrive at maturation between 2008 and 2010, which is likely to create a virtuous effect of lever for the economy nationale" , Mr. Jettou underlined, at the time of a meeting with persons in charge and journalists of the media of the public sector, to maintain them the evolution of the economic situation and social and government action on the matter. The Kingdom, which ambitionne to position as a principal platform of export in the South of the Mediterranean, will know, thanks to this dynamics, " a true takeoff économique" , Mr. Jettou said, at the time of this meeting, which falls under the prolongation of its contacts with the press. To arrive at this result, the Prime Minister pointed out the principles which govern the government action, namely the cleansing and the recapitalisation of the public corporations and the acceleration of the rate/rhythm of execution of the programs, launched in the various areas. The Third principle, has it says, consists in giving coherence to all these programs and to register them within the framework of a long term vision. The National Initiative for Human development (INDH), launched by SM Roi Mohammed VI, " came to in addition bring this coherence which one needed so much, with a dimension sociale" , made a point of specifying the Prime Minister. And to stress that the operation of reorganization and recapitalisation of the public corporations with have for effect to return the latter " irons of lance" nation's economy, quoting in this respect the actions of reorganization having in particular touched the Hotel Real estate credit and (CIH), the Caisse Nationale from Crédit Agricole (CNCA), the Caisse Nationale of Social security and the Regional Establishments of Installation and Construction (ERAC). The Prime Minister, moreover, reviewed, the various building sites launched by the government in the sectors of state education, " priority of the priorités" , with like objective ensuring an adequacy enters the formation and the labor market. It was also necessary to face a plethoric public sector, as with the problems which the rural world has, namely of the important social deficits and an agriculture of subsistence, based on the cultivation of cereals in arid regions, he recalled.

MAP (Put on line on February 7th, 2007 MAP

Companies

See also: List of Moroccan companies

Agriculture

Morocco is a country with 40% of the population living of the agricultural sector which lays out of a useful Surface agricultural (SAU) estimated at approximately 9.500.000 hectares what represents 95.000 km ² the equivalent of 3,11 times the surface of a country like Belgium. The principal agricultural productions of the country are consisted the cereals (the Blé, the Orge and the Maïs), the sugar beet, the Agrume S (oranges, Clémentine S…), the Grape, the Vegetable S, the Tomato S, the Olive S, and the breeding. But the cereal production in particular and the general agricultural production remain very dependant on the conditions and the climatic risks which the country meets.

Cereals

The cereals appear as being the principal agricultural culture of the Morocco. The cereal production makes live most of the rural population of the country, but in spite of progress of the irrigation in the center and the south of the country, the cereals remain dependant on a good pluviometry, their volumes of production can one year to another varying the simple one with triple (of 30.000.000 Q with 100.000.000 Q) according to the climatic conditions. To Morocco the cereal sector presents several facets, one finds the existence of a modern sector of exploitation concentrated on the Atlantique dimension, and country centers it, cohabiting with an agriculture of subsistence.

Fruit and vegetables

Thanks to construction many Stopping S and with the development of important irrigated zones the fruit and vegetable sector is that which offers in the long run the greatest upgrading capabilities. This sector allowed the development of a powerful arboricolous production (citrus fruits, Pomme S, Nectarine S,…) who offers many advantages. The sector makes it possible the rural populations to obtain very good incomes, their avoiding coming to enlarge flows of exoduses in direction of the center urban, harvests make it possible to feed exports of the country, all in their offering important outlet towards local agribusiness industry. The principal products of exports are the tomato, citrus fruits (oranges, tangerines, clementines, etc), as well as vegetables like potato, the zucchini, and the eggplants produces mainly in the south of the country, (area of Agadir).

Agricultural exports

Morocco is one of the most important producers of olives and olive oil: 3rd world out of olive consumed and 2nd out of olive oil exported towards the world. Citrus fruits exports are also one of the greatest agricultural resources of the country. Morocco is the 2nd world citrus fruits exporter. As for other market-gardening exports Morocco exports also various products whose added-value is estimated at 800 $US million.!!!! <3 gaelle jtd too my pullet!! <3

The breeding

ovine herd: 17,5 million heads.

Fishing

The country is one of the largest fish producers in the world. With 17 ports Morocco posts a production of 589.928 tons in 2003 and 593.966 tons in 2004 for a respective value of 227.627.400 € and 246.368.700 € is a variation 0,7% in volume and 8,2% in turnover.

17 main ports of fishings in Morocco

For the first 9 months of the year 2005 the volume of the unloadings rises with 593.966 tons

Export

  • Export in 2003: 340.169 T for a value of 964.243.900 €

  • Export in 2004: 267.336 T for a value of 727.333.800 €
  • Export in 2005: 333.174 T for a value of 936.897.900 €

The mining extraction

Morocco contains the greatest reserves of Phosphate of the world, in the plates of Phosphates, in Khouribga, Youssoufia and Boukraa (Laayoune) with 37 billion cubic meters. In 2000, Morocco was the third phosphate producer, behind the the United States and the China, but it is the first phosphate exporter in the world. In 2005, Morocco became the second phosphate producer in the world, behind the United States and largely exceeding China.

Industry

Since independence, Morocco launched out in important investments to develop and equip the country with industrial infrastructures of bases. The industrial sector represents nearly 28% of GDP. Dominated a long time by agribusiness industries, of the Textile and the Leather, the industrial sector diversified quickly thanks to the rise of the sectors of the Chimie and Parachimie, of the Papier and the paperboards, the automobile equipment and assembly of vehicles, the services with the companies, data processing, electronics and the aircraft industry.

various existing industrial branches in Morocco:

  • manufacturing industry:

Morocco is a fairly rich country as regards energy resource and mine, (especially phosphates). Thus as of its independence the government took care to set up an manufacturing industry for the transformation of the local products which aims at satisfying the interior market and to nourish exports.

  • textile industry:

  • agribusiness industry:

  • drug company:

The Moroccan drug company is the second in term of size and sales turnover on the level of the African continent. This industry generated a sales turnover of 900.000.000 €/an is 9 billion Dh/an. Morocco ensures between 80% and 90% of its requirements in term for drug. The country exports in particular worms of many European countries and African. The remainder of the needs are imported since the foreigner and mainly from France.

  • the industry of subcontracting:

  • craft industry:
  • aircraft industry:
    • This industry comprises two branches: civil aviation and military aviation.
Morocco has an ISO certification in the field of the maintenance and the repair of the machines of planes in particular the engines of planes of any type (Boeing, Airbus, Jets, propeller plane). Moreover, the manufacture of specific components for the planes such as wiring and others… are intended for export. The partners are Snecma, BOEING and other international firms.

  • chemical industry:

Moroccan chemical industry is best African continent, after that of South Africa. It remained dominated by the valorization of phosphates. The ports of Safi and Jorf Lasfar have an extremely developed petrochemical industry. But chemical industry is also flourishing in Tangier and Nador (very developed iron and steel industry). The production of cement is also stimulated by the market of real construction (into full rise) and is very flourishing thanks to the establishment of companies of international gauge like " Lafarge". The oil refinery of Sidi Kacem and especially that of Mohammedia are among the largest refineries of Africa.

  • mechanical engineering industry:

  • electronics industry:
  • new technologies of information:
  • high technologies:
  • free zones:

Services

The service sector in Morocco east undoubtedly one of more developed in North Africa. The services are very dynamic grace in particular to the sector of tourism (hotel trade, services tourist, services of leisures…), and with the banking environments and of finances. Today Casablanca is the greatest financial and industrial center of Morocco and in the Maghreb. Many multinational corporations which operate in the Maghreb and in West Africa have their seats in Casablanca. Today the purse casablancaise is regarded as the third African stock exchange place behind Johannesburg and Cairo. Casablanca is also the third Arab money market behind the purse of Riad in Saudi Arabia, and Cairo in Egypt with a capitalization from approximately 573 billion Dirham S, which is equivalent to approximately 60 billion $. Years 2005 and 2006 were very advantageous for the place casablancaise thanks to an surge record of capital coming from the Middle-East.

Banks, finances

Information sources:

The stockmarket of Casablanca

  • Historical:

  • Organization:

  • privatization and the current location

  • future prospects

  • Stock Exchange Casablanca

  • First stock exchange site on line in Morocco Capitalization rises to 60 Billion dollars with nearly 80 companies with dimensions.

Services with the companies (delocalizations)

Today and during the period 1980-1995, Morocco has succeeds in benefitting from the movements of delocalization in Western Europe. In this phenomenon there, one can highlight two quite distinct periods:

  • the first relates to the delocalizations in the sector of the textile, and the small processing industry.

  • the second relates to the delocalizations in the fields of the industry of high technologies, the car, and the services (cal center, services dedicated to the companies…)

The principal countries transmitting movement of delocalization are France which arrives largely at the head, followed by Spain, Belgium and Italy. But today Morocco must face very competitive countries on the level of the absorption of flows of delocalization, like China, the Eastern European countries in Europe, India, Egypt, or Turkey.

France is the first customer of Morocco, the first supplier, the first foreign investor (in 1989, it invested 60 times more than in Algeria); 1200 French companies approximately were installed in Morocco in 1990, while the French industrial society with total or partial participation was 550.

Trade and large distribution

In Morocco one counts approximately 5 signs in large the distribution:

  • Subway Morocco subsidiary company of the German Giant Subway.

  • Label life groups Moroccan operative in large distribution; Supersol in other areas of Morocco.

  • Acima (Group ONA)

  • Alpha 55 (only based in Casablanca) of the family Benghanem

  • Put ground (German group éponyme).

  • GOAL

  • Hanouty (BMCE BANK- Othman Benjelloun)

  • Other local signs also important but less widespread: Bricorama, weldom, Makro, Supersol, Mr. Bricolage, Ikea, Kitea…

Information sources:

- Group ONA and Acima

- Labelvie

- Aswak Assalam and Géant Casino

- Marjane

- Subway

Tourism

From always Morocco based large hopes on tourism. During these 4 last years the number of arrivals of foreign tourists did not cease increasing to reach more than 7,7 million tourists in 2006, after one very difficult period for world tourism following the attacks September 11th, 2001. However, the assets tourist of Morocco are priceless. The beauty and the mysteries of the desert, the black-headed gulls and pleasant pre-Saharan valleys, the eternal snow of the Atlas, the forests and the lakes with turquoise water, the splendid sand beaches end, the presence of imperial cities of a beauty without equal, as well as a multitude of other curiosities, do of Morocco one of the countries to the tourist potential among highest in the world.

Morocco presents a very varied tourist chart.

Cultural tourism

Imperial cities:

  • Meknes

Roman monuments:

  • Volubilis

  • Tamuda

  • Cotta

  • will soura Me

  • Thamusida

  • Salted Colonia

There are many other Roman sites. Those cities are those which deserve the turning absolutely.

Balneal tourism

  • Atlantic seaside resorts

* Agadir * Safi * Assilah * Tangier * Layoune * Dakhla … and well of other

  • Mediterranean seaside resorts

* Saidia * Tangier * Nador * Cabo negro * Tetouan

Ecological tourism of discovery

  • Saharan Tourism

  • the trekkings

Sporting tourism

  • Tourism golfic and equestrian

  • Surfing

Medical tourism

Many foreigners flow each year towards the Morocco to be made operate (cosmetic surgery and cardiac mainly). That is explained by the fairly high cost of the interventions and very a good quality of the care.

To instigate the sector of tourism, the Moroccan government recently launched the program Plan azure which consists of the creation of 6 new seaside resorts (Saidia, Lixus, Mazagan, Mogador, Taghazout and white Plage) in order to drain approximately 10 million tourists at the horizon 2010. The number of tourists who visited the Morocco in 2006 was of 7.7 million.

Mining resources

The principal mining products which are currently in the course of exploitation in Morocco are:

Infrastructures

Roads

Morocco has an highway network of approximately 95.000 km into 2006 of enough good quality but which must still be reinforced to face the need for development of the country.

Highways

Morocco has the greatest highway network of the Maghreb and 2nd of Africa after South Africa.

the highway infrastructure is composed of several sections:

To the second half-year 2005 one counts approximately 290 km in the course of construction:

- Sections in construction:

  • Service road of the Port Tangier the Mediterranean (54 km).

- Sections still in starting project of the work planned for October 2006 are:

Agadir - Taroudant and Tangier - Oujda (called the Mediterranean by-pass) will be carried out in the form of an expressway 2*2 ways without toll.

Source information : - WMD

Chemin de iron

The network ferroviers Morrocan one of is developed of Africa, it connects all the principal cities of the kingdom.

Chart of the Moroccan railway network

  • the network:

This network extends over a 1.907 km length of which:

- 1.022 km of electrified lines.

- 1.489 km of single-track lines.

- 418 km of lines with double track.

  • projects with short terms:

ONCF is a state enterprise and is under the supervision of the ministry for transport. This company considers in the short and medium term the realization of several renovation projects and extensions of the rail networks of which here some example:

- Construction of sections of approximately 50 km connecting the town of Tangier to the new port “Tangier the Mediterranean”.

- Construction of the section connecting the town of Taourirt to the town of Nador on a distance of approximately 120 km.

- Construction of the section connecting Reduction to Mechra Beleksiri on approximately 40 km.

- Doubly of the way between Fès and Meknès on 60 km.

- Doubly of the way between Casablanca and Settat on approximately 60 km.

  • projects with medium term:

For the medium-term projects the ONCF considers the realization of two lines of TGV in the surrounding of 2015 in partnership with France.

The first will read again the towns of Rabat, Casablanca, Marrakech and Agadir.

And the second will read again the town of Rabat, Meknes, Fez, Taza and Oujda to continue towards Algeria within the framework of the project of TGV trans-Maghrebian.

The construction of a traditional line connecting Agadir, Goulmine and Laâyoune on a distance of approximately 450 km.

Information source:

ONCF (http://www.oncf.ma)

Airport infrastructures

  • Airports:

With the Morocco one counts approximately 19 international airports of which that of the Casablanca, most important of the country and one of largest of Africa.

  • Moroccan Airline companies:

African subsidiary companies of the Group Royal Air Maroc:

  • International Air Mauritania

Information sources:

the installation of the company Air Cémac is still being negotiated with the countries of the Economic community and Monétaire of Africa Centrale.

The RAM stood as candidate to the invitation to tender launched by the Cameronian state for the privatization of its national company Air Cameroun.

Harbor infrastructures

  • fishing ports

  • industry and commercial ports

  • oil ports and ore tankers

Stoppings, channels and irrigation

  • the stoppings

The storage capacity of the stoppings to the Morocco passed from 2,3 billion m3 in 1967, with nearly 16 billion m ³ in 2004.

Evolution of the number of stopping in Morocco

  • the channels

  • irrigated zones

Several other stoppings are in the course of construction, in particular on the wadi Guir (Bouanane) and on the wadi Has Ameur (Coast between Essaouira and Agadir)

Resources of energy: electricity.

  • working Installed capacity (2005): 5.252 MW

  • clear Energy called (2005): 19 518,2 GWh

  • Production of electrical energy (2005): 16.911 GWh

Distribution of the production:

  • nuclear energy: 2 MW

  • hydroelectric energy: 1.265 MW

  • thermal energy: 3.469 MW

  • solar energy: Nd

  • tidal energy: Nd

  • geothermal energy: Nd

  • wind energy: 53,9 MW + 60 MW (April 2007) + 140 MW (at the end of 2007)

External bonds

  • economic Tables/employment. Official figures of Morocco. On Archive.org due to dispartion of their site

Sources

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