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Morocco is a natural bridge between western countries and
Arab world. The country can be geographically divided into
two main areas: the central Moroccan plain, a fertile area
rich in rivers, and the Atlas Mountain chain, a vast area
with a strong aptitude for agriculture. The country is rich
in natural resources, particularly for agriculture and
mining. In recent years, Morocco reached important economic
results creating a stable and balanced economic framework.
The country presents a diversified agricultural sector
mostly located on the Atlantic coast and on the northern
plateau. Although the sector is extremely varied offering
products such as oats, barley, wheat, olives, dates, and
fruits and vegetables, it remains barely competitive and it
is quite sensitive to climatic variations. On the other
hand, the fisheries ares well developed and account for 12%
of total exports.
Industry, based on locally extracted raw materials is quite
developed, particularly for phosphates of which Morocco is
the largest world producer. The manufacturing sector has
been growing in recent years including important sectors
such as tobacco, beverage, textile and garment, chemical,
machinery, and electronics.
Tourism displays a promising trend and has been growing at a
fast pace, especially in the areas of Marrakesh and Agadir.
In line with the policy prescriptions of international
monetary institutions, Morocco is following a policy of
modernization and industrial development. This led to an
improvement in economic performance, to the creation of a
more efficient legal framework, and to the reduction of the
poverty rate. Notwithstanding imbalances in income
distribution among different areas of the country, Morocco
presents a positive and stable macroeconomic picture.
MAIN ECONOMIC INDICATORS
|
|
Government |
Constitutional monarchy |
|
Area |
446.550 sq km |
|
Population |
34,86 millions |
|
Population growth rate |
1.479% |
|
Language |
Arabic, Berbers dialects, French |
|
Gross Domestic Product (GDP) |
90,47 billion US$ |
|
GDP growth rate |
5,9 % |
|
Gross National Income per capita |
4.000 US$ |
|
GDP distribution per sector |
|
|
Agriculture |
14.7 % |
|
Industry |
38.9 % |
|
Services |
46.5 % |
|
Public debt ( as GDP percentage)) |
60.2 % |
|
Labour force |
11,5 millions |
|
Unemployment rate |
2.1 % |
|
Consumption price index (percentage variation) |
4.6 % |
|
Export of goods and services |
17.75 million US$ |
|
Import of goods and services |
21.22 million US$ |
|
Local currency |
7,526
Moroccan Dirham/US$ |
|
Foreign direct investment inflows |
2898 millions US$ |
|
Foreign direct investment outflows |
582 millions US$ |
Data 2009.Source: Central Intelligence Agency |