In 1st class, however, each seat is manually assigned. Today, it is home to the largest Renault car plant in North Africa. With approximately 85,000 square kilometres (33,000 sq mi) of arable land (one-seventh of which can be irrigated) and its generally temperate Mediterranean climate, Morocco's agricultural potential is matched by few other Arab or African countries. [49] The Kingdom is considered the largest fish market in Africa, with an estimated total catch of 1,084,638 MT in 2001. This activity represents 0.57% of Morocco's GDP. From 2018,[23] the country's currency, the dirham, is fully convertible for current account transactions; reforms of the financial sector have been implemented; and state enterprises are being privatized. Founded in 1929, it is one of the oldest stock exchanges in Africa, but it came into reckoning after financial reforms in 1993,[65] making it the third largest in Africa. Morocco's economy is expected to achieve a 6.6% growth in the first quarter of 2009 up from 4.8% in the past quarter thanks to prospects for an agricultural campaign above the average of the past five years. In a report issued in July 2008, the IMF noted that Morocco's financial sector is sound and resilient to shocks, and that the remarkable fiscal consolidation efforts of recent years have allowed the Moroccan economy to absorb the impact of difficult international economic conditions and increasing global prices for essential commodities such as petroleum and energy. Create a stunning interactive maps with simple-to-use user interface. In this regard, it has been deemed an important decision of the Moroccan government to accelerate training in the required disciplines. Hover over or tap a circle or cross to highlight it and show its details. IEA (2014) "Morocco 2014 â Energy Policies Beyond IEA Countries", Learn how and when to remove this template message, Africa :: Morocco â The World Factbook - Central Intelligence Agency, Arab Fund for Economic and Social Development, United Nations Conference on Trade and Development, "World Economic Outlook Database, April 2019", "World Economic Outlook Database, October 2019", "Middle East and North Africa Economic Update, April 2020 : How Transparency Can Help the Middle East and North Africa", "Poverty headcount ratio at national poverty lines (% of population) â Morocco", "Poverty headcount ratio at $3.20 a day (2011 PPP) (% of population) â Morocco", "Inequality-adjusted Human Development Index (IHDI)", "Employment to population ratio, 15+, total (%) (national estimate) â Morocco", "Morocco (MAR) Exports, Imports, and Trade Partners", "How Fitch, Moody's and S&P rate each country's credit rating", "International Reserves and Foreign Currency Liquidity â MOROCCO", "Morocco major economic player in Africa, researcher", "Economy â Morocco â import, problem, growth, crops, annual, sector", "Le Maroc, pays le plus inégalitaire d'Afrique du Nord", "Economics, Business, and the Environment â GDP: GDP per capita, current US dollars", "Report for Selected Countries and Subjects", "Economic development â Morocco â product, growth, area, annual, economic growth, infrastructure, policy, sector", "Morocco Economy 2015, CIA World Factbook", "Moroccan economy expected to grow by 6.2% in 2008", http://www.map.ma/eng/sections/economy/morocco_banks_on_bud/view, "Morocco foresees 6.6% economic growth in 2009 first quarter â Magharebia", "Arab Fund for Economic and Social Development lends Morocco $237m", http://www.unis.unvienna.org/unis/pressrels/2003/unisnar826.html, "Cannabis : l'Istiqlal revient à la charge", "France: l'humoriste Dieudonné, le succès qui inquiète? Besides these 'normal' compartments (that are also used on day-time trains and special night-trains) they also offer sleeper-cars with bedrooms/compartments or couchettes. [84] Germany has expressed its willingness to participate in the development of Morocco's solar energy project[85] which the country has decided to carry out, as did the World Bank. While the recovery of pre-crisis levels very much hinges on the health of the global economy, Morocco has made steps towards becoming a more attractive FDI destination, according to the World Bank's Doing Business 2010 report, ranking second in North African neighbours. However, the overall deficit is projected to widen to 3.5 percent of GDP in 2008, driven by the upward surge in the fiscal cost of Morocco's universal subsidy scheme following the sharp increase in world commodity and oil prices. It is the most unequal country in North Africa according to the NGO Oxfam. Investment during the 1970s included industry and tourism development. The diversification of the Economy includes a multi-disciplinary approach to the development of non-agricultural sector, including the creation of special sectorial zones in industry, tourism and services outsourcing. Spain had shown particular interest in the development of the region, because its underdevelopment has fueled illegal immigration and drug trafficking across the Strait of Gibraltar.[77]. Key agricultural products include fruits and vegetables (grown in the few oases); camels, sheep, goats (kept by nomads.) Timetable[9] for this section: Morocco is now addressing persistent social problems by reducing absolute poverty rates, investing in human capital through quality education, expanding access to drinking water, and linking rural areas to markets through investment in roads. Investment was low and the city lost its economic importance. (See section below). Evidently, this trend of falling unemployment rates is a positive one. Use the list below to select a map you need. Growth in 2006 went above 9%, this was achieved by a booming real estate market. Please update this article to reflect recent events or newly available information. DOWNLOAD; DOWNLOAD; arabic islamic vector vectors. The credit rating agency attributed its classification in part to the "relative resilience of Morocco's economy to the global economic downturn."[63]. Further, some nominal tax rates remain high by international standards, possibly warranting a lowering of some rates. For other quizzes, I automated the process. After a good performance in the 1st half of 2008, exports of goods slowed in the 3rd quarter before plummeting in the 4th quarter (â16.3%), following the fall in foreign sales of phosphates and their derivatives, after a sharp rise in the 1st and 2nd quarters. Many believe, however, that the process of economic reform must be accelerated in order to reduce urban unemployment below the current rates above 20%. The sectors that recorded the highest growth are the tourism, telecoms, and textile sectors. The creation of a free economic zone increased the economic output of the city significantly. Recent activity in Western Sahara, which is believed to contain viable hydrocarbon reserves, has been controversial. New ecosystems have been established such as wiring, vehicle interior and seats, metal stamping, battery, etc. Morocco remains the preferred destination of foreign investors in the Maghreb region (Algeria, Libya, Mauritania, Morocco and Tunisia), with a total of $13.6 billion between 2001 and 2007, which puts it largely on the top of the list. In the Arab world, Morocco has the second-largest non-oil GDP, behind Egypt, as of 2017. In the night-trains, passengers in a 2nd class compartment tend to draw the curtains, switch off the lights and close the sliding door, hoping that no passengers will enter their compartment so the existing cabin passengers might have more space. Still average purchasing power remains low overall, forcing retailers to cater to a broad section of the population and to keep prices low. The REMINEX Corporation (Research on Mines and Exploitation) is the most prominent research performer in the private sector,[75] and is a subsidiary of Omnium Nord Africain, the largest privately owned mining group in Morocco. The development of the tourist industry also figured prominently in the plan. As of 2019, the rolling stock operating on the line consists of 12 Alstom Euroduplex trainsets, with each set comprising two power cars and eight bilevel passenger cars. This improvement in the national income however seems to be insufficient to face up to the discrepancies in terms of living standards and the scale of deficits at the social level.[81]. The cannabis is typically processed into hashish. Morocco also produces a significant amount of illicit hashish, much of which is shipped to Western Europe. At the end of November 2008, the state's budget registered a surplus of MAD 3.2 billion ($372 million), while at the end of November 2009, the budgetary surplus is projected at MAD 6.9 billion ($803 million).[34]. Its wine industry is developed, and the production of commercial crops (cotton, sugarcane, sugar beets, and sunflowers) is expanding. Morocco announced plans to sell two fixed licenses in 2002. The rise in construction activities and efforts to improve infrastructure are creating many opportunities for public-private partnerships. The national system of scientific and technical research is guided by different elements, such as the pronouncements of the king, reports of special commissions, five-year plans, and the creation of a special programme for the support of research. [70], Morocco was granted an "advanced status" from the EU in 2008,[51] shoring up bilateral trade relations with Europe. The government wishes to increase 3 exports from $1.27 billion in 2001 to $3.29 billion in 2010. Lear Corporation, The American group, with 11 plants in the country is the leading automotive supplier, followed by Yazaki, Sumitomo, and Leoni and many others such as Denso, Kromberg & Schubert, Takata, Furukawa, Fujikura, TE connectivity, Valeo, Faurecia, Daedong System, Hirschmann, Delphi, Magnetti Marelli, COMSAEMTE, Parker, Clarton Horn, Deltrian, Inergy Automotive System, Varroc Lighting System, JTKET, Processos industriales Del Sur⦠In the medium term, the goal is to attract nearly 50 other industrialists. Morocco is the world's third-largest producer of phosphates (after the United States and China), and the price fluctuations of phosphates on the international market greatly influence Morocco's economy. The government hopes that adding more local content to the internet will increase usage. The main network for passenger-transport consists of a NorthâSouth link from Tangier via Rabat and Casablanca to Marrakech and the EastâWest connection linking Oujda in the East via Fes to Rabat. Alternatively, you can scrape any existing map from a quiz using inspect-element in the browser. The automotive sector is already Moroccoâs leading export sector and has made the Kingdom the leading car manufacturer in Africa. [74] Although other studies have shown much higher figures. Industrial activity recorded a 5.5% increase in 2007, a slight rise over 2006, when the sector grew by 4.7%. Further institutional reforms to bolster competitiveness and financial openness are expected to help the trend to continue. [3] In fact, the national income grew at an average annual rate of 5.5% during the 1998â2007 decade. Other recent investments in Moroccoâs automotive sector include PSA Peugeot Citroenâs investment of USD 615 million in setting up their manufacturing facility which is expected to be operational in 2019. The financial system, though robust, has to take on excessive quantities of low risk-low return government debt at the expense of riskier, but more productive private sector lending. Since the mid-1980s tourism and associated services have been an increasingly significant sector of the Moroccan economy and by the late 1990s had become Morocco's largest source of foreign currency. On the Atlantic coast, where there are extensive plains, olives, citrus fruits, and wine grapes are grown, largely with water supplied by artesian wells. [50], The Moroccan industrial sector looks set to continue the strong growth it has enjoyed in recent years. The largest project is the high a high-speed railway from Tangier via Rabat and Casablanca to Marrakech. * Aust-Agder, admin2 (2019) Demo SVG GeoJSON Javascript * Buskerud, admin2 (2019) Demo SVG GeoJSON Javascript * Finnmark, admin2 (2019) Demo SVG GeoJSON Javascript This represented 10% of the total area and 23% of the arable lands of the surveyed territory and 1% of Morocco's total arable land. [86] Germany will also take part in the development of a water-desalination plant. Two particularly important components of Morocco's industrial makeup are processing raw materials for export and manufacturing consumer goods for the domestic market. When king Hassan II passed on, his son, Mohammed VI, made it his duty to develop the Northern Region, and especially its biggest city, Tangier. The real income of the population registered, during the last 10 years, an annual increase of 2.5%, taking into consideration the fluctuations relating the climatic conditions, which mainly affect the most vulnerable populations and their living standards. 20% of these investments came from Islamic countries. But when Mohammed VI became king in 1999, he developed a plan for the economic revival of Tangier. [32] [66] In terms of sectors, tourism has the biggest share of investment with $1.55 billion, that is 33% of the total FDIs, followed by the real estate sector and the industrial sector, with respectively $930 million and $374 million. Horizon Zero Dawn, an open-world, action RPG, takes place in a post-apocalyptic future with mechanical dinosaur-like creatures.The protagonist in this game is Aloy. Noting however that human resources remain the major concern for companies seeking to gain a foothold in Morocco. For a long time the industry has been an economic pillar for the country. Fishing and phosphate mining are the main activities in the region. The government continued liberalizing the telecommunications sector in 2002, as well as the rules for oil and gas exploration. Second class compartments have two couches opposite each other, each couch offering 4 places. Morocco has very few reserves of its own and has been affected by the high oil prices of 2007 and early 2008. Follow this tips to find any map on the website. At the same time, the relatively high level of public debt remains a constraining factor, particularly as heightened attractiveness to investors is a key component of Morocco's strategy of deepening its integration in the global economy. On the whole, the growth rate of the economy will not reduce the unemployment rate Morocco may be affected, by the slowdown of international economy, stirred by the global financial crisis, and whose maximum impact on national economy could decrease the GDP growth rate by at least one point in 2009, according to the Bank Al-Maghrib[33]. Morocco suffers both from structural unemployment and a large external debt. The uneven development among Morocco's regions fueled a cycle of rural-urban migration that has shown no signs of slowing down. [36][37], By the end of December 2008, rainfalls exceeded that of an ordinary year by 106%. 2007 data indicate that 17.6% of those in the 15â24 age group are unemployed. This rises to around one third in urban areasârural communities often employ the young in agriculture, including on the family farm, as soon as they leave school, contributing to relatively high youth employment rates (lower levels of official unemployment registration are also a factor).[82]. [citation needed] According to the Moroccan economist, Brahim MANSOURI (Fiscal Policy and Economic Growth: Egypt, Morocco and Tunisia Compared, UNECA, 2008), when drought, measured as a dummy variable computed on the basis of the rate of growth of cereal yield, endangers extremely, the growth rate of real GDP would fall by 10 percent. Current external debt stands at about $16.6 billion. Additionally, a new train station was constructed, called Tanger-Ville. Privatization has stimulated activity on the Casablanca Stock Exchange (Bourse de Casablanca) notably through trade in shares of large former state-owned operation. Moreover, with Spanish construction firms facing much harder times, Morocco may soon face the additional challenge of workers returning from across the Gibraltar Straits, potentially putting further pressure on the authorities to create jobs. However, keeping with the global trend, FDI dropped 29% to â¬2.4 billion in 2008,[63] the first decline since 2004. Morocco produces a number of minerals and metals, most importantly, phosphates, silver and lead. Morocco has reduced its dependence on phosphate exports, emerging as an exporter of manufactured and agricultural products, and as a growing tourism destination. The five-year plan for 1973â77 envisaged a real economic growth of 7.5% annually. Result: Ceasefire As of June 2020 the Government of National Accord controls most of the Tripolitania region including the capital Tripoli, and parts of the Fezzan region. [42], In addition to smaller yields of other agricultural products.[43]. As of January 2008, hotels with good environmental practices will receive a Green Key label as part of a programme by the Mohammed VI Foundation for the Protection of the Environment. There is still room for growth, as the market remains underdeveloped by international standards. While the forecast is slightly lower than the earlier 6.8% projected growth it still remains quite an achievement considering the circumstances. The influx of European countries in Morocco's FDI represents 73.5% of the global amount received in 2007. The Internet has made steady inroads in Morocco; major institutions have direct access to it, while private individuals can connect via telecommunications "boutiques", a version of the cyber cafés found in many Western countries, and through home computers. When trains are not busy, couches are usually empty, so passengers can lie down at times. With 30.5% of Morocco's population of 34.3m aged 14 or younger, according to the CIA, job creation for the young is one of the government's major priorities. The industrial sector accounted for about 21.1% of employment in 2007 and the sector is a key component of the government's effort to curb unemployment. Newer crops such as tea, tobacco, and soybeans have passed the experimental stage, the fertile Gharb plain being favourable for their cultivation. After Morocco regained control over Tangier, this attention slacked off. Foreign Direct Investments in Morocco grew to $2.57 billion in 2007 from $2.4 billion a year earlier to position the country in the fourth rank in Africa among FDI recipients, according to the United Nations Conference on Trade and Development. The government also needs to promote water conservation and efficiency in order to prevent further scarcity. [3] Al-Boraq trains are scheduled to depart Casablanca and Tangier every hour from 06:00 until 21:00 (from 07:00 on Sundays). In addition, the number of employees should increase from 40,000 to 125,000. Although Morocco runs a structural trade deficit, this is typically offset by substantial services earnings from tourism and large remittance inflows from the diaspora, and the country normally runs a small current-account surplus.[39]. The objective was to attain an annual 5% growth rate in GDP; the real growth rate actually exceeded 6%. Thus, Morocco achieved an 11% rise in tourism in the first five months of 2008 compared with the same period last year, it said, adding that French visitors topped the list with 927,000 followed by Spaniards (587,000) and Britons (141,000). [51], While Morocco is already a model of water management in the MENA region, upgrades to its water system under the National Wastewater Management Programme should further improve wastewater treatment and maximise efficient water usage. The following routes offer night-trains: These long-distance trains operate with non-motorized passenger cars that have individual compartments. According to this report, Morocco had 17 390 research staff in 2002â2003. In the rainy sections of the northeast, barley, wheat, and other cereals can be raised without irrigation. Although Morocco's economy grew in the early 2000s, it was not enough to significantly reduce poverty. The stock market capitalisation of listed companies in Morocco was valued at $75,495 billion in 2007 by the World Bank. Features include: Beautiful Robinson Projection; Small size (140 KB) loads quickly; Nearly all countries/territories with a unique 2-digit ISO code; All objects identified with ISO Code and Name In 1998 the government created Maroc Telecom (Ittiá¹£ÄlÄt al-Maghrib), which provides telephone, cellular, and Internet service for the country. More broadly, the Moroccan insurance sector is already consolidated, with five large players controlling the market. The day trains all stop at Taourirt and as the link to Nador is actually before the station of Taourirt (coming from Fes) the direction of travel has to change, including moving the locomotive from one end to the other. For this quiz, I put in all data by hand, which requires a lot of editing. The State High Planning Commission that Morocco's official unemployment rate dropped to 9.1% in Q2 2008, down from 9.6% in Q1. The sector also attracts high levels of FDI and authorities have announced initiatives to improve the investment climate, with particular attention to off-shoring activities, automotive, aeronautics, electronics, food processing activities, products from the sea and textiles. Morocco sends a significant amount of its exports to the European Union. Current GDP per capita grew 47% in the Sixties reaching a peak growth of 274% in the Seventies. All maps are available for free for non-commercial use under Creative Commons Attribution-NonCommercial 4.0 International License.. For commercial use please consider acquiring an amCharts 4 license. significantly, also taking account of the constant rise in the number of first entrants on the According to the International Energy Agency (IEA) report 2014, Morocco is highly dependent on imported energy with over 91% of energy supplied coming from abroad. Changing consumption habits, increasing purchasing power and the growing number of tourists should boost the development of malls and luxury shopping. Tourists also arrive from Algeria, the United States, and East Asia, mainly Japan. This agreement, which lies within the scope of the Barcelona Process (euro-Mediterranean partnership) started in 1995 and envisages the progressive implementation of a free trade area planned for 2012. The global financial crisis affected the Moroccan economy in only a limited way. To boost investment in these activities, Morocco intends to encourage Moroccan capital and joint ventures. You can search by category, country or tag. Morocco is a major touristic destination. Although computer and internet use have made a great leap forward in the past five years, the IT market still finds itself in infancy and offers great potential for further development. In fact according to the World Bank, remittances constituted 9.5% of GDP in Morocco in 2006.[73]. â Art19", http://www.oxfordbusinessgroup.com/weekly01.asp?id=4675#english, http://www.allbusiness.com/africa/1035405-1.html, http://www.map.ma/eng/sections/economy/development_efforts/view, "Morocco among the top ten countries in offshoring sector â Magharebia", "Gartner Identifies Top 30 Countries for Offshore Services in 2008", "Gartner picks top 30 countries for offshore IT outsourcing", "ANIMA News : Morocco and Egypt enter the latest Gartner's offshore IT 'Top 30, http://www.oxfordbusinessgroup.com/weekly01.asp?id=4644#english, http://www.oxfordbusinessgroup.com/weekly01.asp?id=4661#english, "Spain Remains Morocco's Top Trade Partner in EU", "Moroccan government brings in plan to reduce trade imbalance â Magharebia", http://portal.unesco.org/education/en/files/55536/11998897825Morocco.pdf/Morocco.pdf, "Export Solutions | International Trade Administration", "Tanger Med Port Authority â GROUPE TANGER MED", http://www.iea.org/Textbase/npsum/morocco2014sum.pdf, "Morocco unveils $9 billion solar power scheme", "Germany to participate in Morocco's solar energy project", "WB to contribute to Morocco's solar energy project", Kingdom of MoroccoâCountry Strategy Paper 2003â2005, Description of benefits of the US-Moroccan FTA, Moroccan-American Trade and Investment Council, Maroc Entrepreneurs: Association dedicated to the Promotion of Entrepreneurship in Morocco, World Bank Summary Trade Statistics Morocco, Trade-Related Aspects of Intellectual Property Rights, Special administrative regions of the People's Republic of China, Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu, https://en.wikipedia.org/w/index.php?title=Economy_of_Morocco&oldid=1003448705, World Trade Organization member economies, Articles with dead external links from January 2018, Articles with permanently dead external links, Short description is different from Wikidata, Articles needing additional references from July 2009, All articles needing additional references, Articles with unsourced statements from September 2019, Articles with unsourced statements from May 2009, All articles with vague or ambiguous time, Vague or ambiguous time from October 2014, Articles with unsourced statements from October 2014, Articles with unsourced statements from April 2012, Wikipedia articles in need of updating from October 2019, All Wikipedia articles in need of updating, Vague or ambiguous time from October 2019, Articles with dead external links from August 2019, Creative Commons Attribution-ShareAlike License, clothing and textiles, automobiles, aircraft parts, electric components, inorganic chemicals, transistors, crude minerals, fertilizers (including phosphates), petroleum products, citrus fruits, vegetables, fish, Main lines in use: 3.28 million (2012) : estimation, Mobile cellular: 47.25 million [135% of the total population] (2015) : estimation, Internet users: 21.2 million [60.6% of the total population] (2014): estimation, Tariffs applied by Morocco as provided by ITC's, Officially the Republic of China, participates as ", This page was last edited on 29 January 2021, at 01:18. E-commerce is likely to take off in the next few years, especially as the use of credit cards is gaining more ground in Morocco. Expectations for 2008 were promising noting that 72 projects were approved for a global amount of $9.28 billion. More important is that cereal yields determine not only the aggregate value added in the agricultural sector but also economic growth in general. Over the past 20 years, the government has built approximately 1770 kilometers of modern roads, connecting most major cities via toll expressways. Operated by Maroc Telecom. Morocco has two major "traditional" car manufacturers: Renault and PSA. The international system has seven submarine cables, three satellite earth stations, two Intelsat (over the Atlantic Ocean) and one Arabsat. In 2007, it has injected $652 million in projects abroad, which put the kingdom in the third position in Africa.