Home to an estimated 15.9% of the world’s proven oil reserves, Saudi Arabia is the single largest economy in the Middle East and North Africa. According to the Ministry of Finance, real GDP grew by 3.8% to $746bn in 2013. While oil income is expected to continue to account for the majority of government revenues for the foreseeable future, the non-oil sector has expanded significantly in recent decades growing 9.3% in 2013.
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.
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,...
Anchored by the port city of Tangiers, Morocco’s diverse northern region has undergone a significant transformation in the past 10 years thanks in large part to efforts to decentralise governance, boost local infrastructure and encourage industrial growth. The crux of these efforts is an integrated economic development plan that aims to capitalise on the region’s location at the juncture of...
The 2003-13 royal initiative, the region’s 10-year economic development programme introduced in 2003, has transformed the Oriental’s economy, placing a strong emphasis on local industry, value-added agricultural production, application of new technologies and a reduction in economic reliance on Algeria. The region has many advantages, including its Mediterranean coastline, a fertile...
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