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.
Unfavourable weather conditions characterised by cold temperatures and drought took their toll on a number of key crops in 2012. However, better weather conditions and abundant rainfall in 2013 allowed for higher domestic production, particularly in the cereals segment, which produced 9.7m tonnes, up 89% compared to 2012. Morocco’s primary sector still plays a significant role in terms of job...
Although Morocco’s economy is comparatively welldiversified, the agriculture sector still plays a significant role in terms of rural development. The sector accounted for 13.2% of GDP in 2011, rising to 15% in 2013, and provided roughly 40% of total employment, with millions more indirectly reliant on it. As a result, the government’s agricultural strategy, the Green Morocco...
As a direct result of the global slowdown, regional unrest and weaker demand in the EU, Morocco’s budget deficit widened to 7.7% in 2012, its highest level since 1990. This can largely be seen as a result of falling foreign direct investment and exports, as well as increased social spending over the past few years. In grappling with this...
Stay updated on how some of the world’s most promising markets are being affected by the Covid-19 pandemic, and what actions governments and private businesses are taking to mitigate challenges and ensure their long-term growth story continues.
Register now and also receive a complimentary 2-month licence to the OBG Research Terminal.
Register Here×