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Morocco - Trade & Marketing Information
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ALIGN="RIGHT" SRC="/cgtd/global/africa/morocco.gif"> Morocco - key economic data 

Economy Overview:

    Morocco faces the typical problems of developing countries - restraining
    government spending, reducing constraints on private activity and foreign
    trade, and keeping inflation within bounds. Since the early 1980s the
    government has pursued an economic program toward these objectives with the
    support of the IMF, the World Bank, and the Paris Club of creditors. The
    economy has substantial assets to draw on: the world's largest phosphate
    reserves, diverse agricultural and fishing resources, a sizable tourist
    industry, a growing manufacturing sector, and remittances from Moroccans
    working abroad. A severe drought in 1992-93 depressed economic activity and
    held down exports. Real GDP contracted by 4.4% in 1992 and 1.1% in 1993.
    Despite these setbacks, initiatives to relax capital controls, strengthen
    the banking sector, and privatize state enterprises went forward in 1993-94.
    Favorable rainfall in 1994 boosted agricultural production by 40%. Servicing
    the large debt, high unemployment, and vulnerability to external economic
    forces remain long-term problems for Morocco.


National product:
    GDP - purchasing power parity - $87.5 billion (1994 est.)
National product real growth rate:
    8% (1994 est.)
National product per capita:
    $3,060 (1994 est.)
Inflation rate (consumer prices):
    5.4% (1994)
Unemployment rate:
    16% (1994 est.)
Budget:
  revenues:
    $8.1 billion
  expenditures:
    $8.9 billion (1994 est.)



Industrial production:

    growth rate 0.1% accounts for 28% of GDP
Electricity:
  capacity:
    2,620,000 kW
  production:
    9.9 billion kWh
  consumption per capita:
    361 kWh (1993)



Economic Activity


Industries:

    phosphate rock mining and processing, food processing, leather goods,
    textiles, construction, tourism



Agriculture:
    accounts for 15% of GDP, 50% of employment, and 30% of export value; not
    self-sufficient in food; cereal farming and livestock raising predominate;
    barley, wheat, citrus fruit, wine, vegetables, olives
Morocco - key foreign trade data 




Exports:

    $4.1 billion (f.o.b., 1994 est.)
  Commodities:
    food and beverages 30%, semiprocessed goods 23%, consumer goods 21%,
    phosphates 17%
   Major Trade Partners::
    EU 70%, Japan 5%, US 4%, Libya 3%, India 2% (1993)



Imports:

    $7.5 billion (c.i.f., 1994 est.)
  Commodities:
    capital goods 24%, semiprocessed goods 22%, raw materials 16%, fuel and
    lubricants 16%, food and beverages 13%, consumer goods 9%
   Major Trade Partners::
    EC 59%, US 8%, Saudi Arabia 5%, UAE 3%, Russia 2% (1993)
External debt:
    $20.5 billion (1994 est.)
Morocco - Trade, Industry & Marketing information

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