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Morocco
| Economy Overview |
| Morocco faces problems typical for developing countries: restraining government spending, reducing constraints on private activity and foreign trade, and achieving sustainable growth. Despite structural adjustment programs supported by the IMF, the World Bank, and the Paris Club, the dirham is only fully convertible for current account transactions. In 2004 Moroccan authorities instituted measures to boost foreign direct investment and trade by signing a free trade agreement with the US and selling government shares in the state telecommunications company and in the largest state-owned bank. Favorable rainfall over the past two years has boosted agricultural output and GDP growth passed 4% in 2004. In 2005 the budget deficit is expected to rise sharply - from 1.9% of GDP in 2004 - because of substantial increases in wages and oil subsidies. Long-term challenges include preparing the economy for freer trade with the US and European Union, improving education and job prospects for Morocco's youth, and raising living standards. |
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| Economy Statistics |
| Exports: |
$9.754 billion f.o.b. (2004 est.) [?]
This entry provides the total US dollar amount of merchandise exports on an f.o.b. (free on board) basis. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.
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Export
Commodities: |
clothing, fish, inorganic chemicals, transistors, crude minerals, fertilizers (including phosphates), petroleum products, fruits, vegetables [?]
This entry provides a rank ordering of exported products starting with the most important; it sometimes includes the percent of total dollar value.
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Export
Partners: |
France 33.6%, Spain 17.4%, UK 7.7%, Italy 4.7%, US 4.1% (2004) [?]
This entry provides a rank ordering of trading partners starting with the most important; it sometimes includes the percent of total dollar value.
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| Imports: |
$15.63 billion f.o.b. (2004 est.) [?]
This entry provides the total US dollar amount of merchandise imports on a c.i.f. (cost, insurance, and freight) or f.o.b. (free on board) basis. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.
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Import
Commodities: |
crude petroleum, textile fabric, telecommunications equipment, wheat, gas and electricity, transistors, plastics [?]
This entry provides a rank ordering of imported products starting with the most important; it sometimes includes the percent of total dollar value.
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Import
Partners: |
France 18.2%, Spain 12.1%, Italy 6.6%, Germany 6%, Russia 5.7%, Saudi Arabia 5.4%, China 4.2%, US 4.1% (2004) [?]
This entry provides a rank ordering of trading partners starting with the most important; it sometimes includes the percent of total dollar value.
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| Chamber of Commerce and Industry of Casablanca |
| Address: |
98 Boulevard Mohamed V - Casablanca |
| Phone: |
(212-2) 26.43.27/71 |
| Fax: |
(212-2) 26.84.36 |
| Website: |
http://www.ccisc.gov.ma/ |
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