Situated on the western tip of North Africa, Morocco – also known by its ancient name Al Maghreb, meaning “the West” in Arabic – contains a mix of indigenous Berber, Arab, African and European influences. Most of its 33m people live near the northern plains and cities along the Atlantic coast and speak Arabic, French or one of the varieties of Berber. As the region’s only monarchy, the kingdom...
Morocco
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Chapter | Country Profile from The Report: Morocco 2015
Benefitting from strong ties to both Europe and the Arab world, Morocco has the right ingredients for future growth: low inflation, political stability, an industrial base and a favourable climate. With the outlook improving for Morocco’s trade partners and the lower price of oil – of which the country is a net importer – most observers expect growth to be even stronger in 2015, with estimates ranging from 4.4% to 5.0%.
The only monarchy in North Africa, Morocco has one of the more diversified GDP mixes in the region, and the mainstays of the economy include agriculture, tourism, and the textiles industry; higher-end manufacturing, IT and communications, and outsourcing are also all becoming increasingly important. The past few years have seen some significant changes, yet the kingdom has remained stable, even amidst the broader regional turmoil.
Chapter | Country Profile from The Report: Morocco 2014
The only monarchy in North Africa, Morocco contains a blend of Arab, African, indigenous Berber and European cultures. The kingdom has long maintained close diplomatic, economic and cultural ties to Europe that it continues to deepen and has a reputation as a stable and tolerant state. Morocco encompasses a landmass of 446,500 sq km and is located on the north-western tip of Africa, sitting...
In 2013, Morocco rebounded from a more modest performance in 2012 to deliver 4.4% GDP growth, with the economy bolstered by a return to form in the primary sector thanks to a productive harvest. After 2.7% growth in 2012, economic activity in Morocco expanded much faster in 2013, increasing by 4.4% as GDP reached Dh864.6bn (€76.8bn). This was driven in large part by the agricultural sector,...
Morocco’s banking sector remained resilient in 2013, benefitting from cash injections from Bank Al Maghrib, the central bank, and the industry is among the most sophisticated on the continent. Although liquidity is still less than ideal and non-performing loans have inched upwards, indicators have been positive for the sector, with capital adequacy requirements well above Basel III and...