Country Profile

Morocco

Capital: Rabat

The Kingdom of Morocco, which gained its independence from France in 1956, is the most westerly of the N. African countries known as the Maghreb. Its economy can be considered as a fairly liberal one, with a privatization programme being in place since 1993. There has been macroeconomic stability but only small economic growth over the past twenty years. Thus there remains the major problem of unemployment – up to 20% in some urban areas. The strongest point in the economy is phosphate mining and processing. Morocco controls over two-thirds of the world’s phosphate reserves and this industry produces over 50% of the country’s income. The Government is investing heavily in increasing tourism which is the second largest income earning industry.

Main Trade Partners:

France, Italy, Germany, UK, Spain, USA, China, India, Saudi Arabia

Main Industries:

Phosphate Mining & Processing, Tourism, Textiles, Agriculture, Leather Goods, Food Processing

Population:

34,343,219 (July 2008 CIA World Factbook est.)

Area:

446,550 sq. km.

GDP:

125.2 bn. (2007 IMF est.)

GDP Real Growth Rate:

2.1% (2007 CIA World Factbook est.)

GDP per Head:

$4,076 (2007 IMF est.)

GDP per Sector:

Services 47.7%, Industry 37.9%, Agriculture 14.5% (2007 CIA World Factbook est.)

Stock Market Capitalisation:

$49.6 bn. (2006 CIA World Factbook)

Exchange Rate:

1 Moroccan Dirham = 0.122 US$ (September 2008)1 US$ = 8.183 Moroccan Dinar
 

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