In the short term these subsidies are helping to ease the burden but they cannot keep rising indefinitely, and sooner or later the load will have to be shared out. In terms of sectors, tourism has the biggest share of investment with $1.55 billion, that is 33% of the total FDIs, followed by the real estate sector and the industrial sector, with respectively $930 million and $374 million. This 323-kilometer-long (201 mi) high-speed rail service is operated by the ONCF. Evidently, this trend of falling unemployment rates is a positive one. [citation needed]. The HoR or LNA controls all of the Cyrenaica and parts of Fezzan and Tripolitania regions. Southbound: Tangier (21:05), Sidi-Kacem (1:30), Kentira (2:35), Rabat (3:15), Casablanca (4:30), Marrakech (08:05). Historically, the Casablanca-Rabat axis has been more prosperous and has received more government attention than the predominantly mountainous northern provinces and the Western Sahara region. In the rainy sections of the northeast, barley, wheat, and other cereals can be raised without irrigation. labour market. Morocco may be affected, by the slowdown of international economy, stirred by the global financial crisis, and whose maximum impact on national economy could decrease the GDP growth rate by at least one point in 2009, according to the Bank Al-Maghrib[33]. A UN survey in 2003 estimated cannabis cultivation at about 1340 km2 in Morocco's five northern provinces. Beds and couchettes have to be reserved when tickets are brought.[9]. [32] [71] The offshoring sector in Morocco is of great importance as it creates high-level jobs that are generally accompanied by an influx of Moroccan immigrants. Morocco's primary economic challenge was to accelerate growth in order to reduce high levels of unemployment. The plan provides for creating six coastal resorts for holiday-home owners and tourists: five on the Atlantic coast and one on the Mediterranean. Despite the challenges, the retail sector has strong growth potential. An improved rural service employs microwave radio relay. The national railway-operator ONCF is working on several projects. From 2018,[23] the country's currency, the dirham, is fully convertible for current account transactions; reforms of the financial sector have been implemented; and state enterprises are being privatized. ; As of August 2020 60–70% of the Libyan population lives in areas controlled by the GNA. The first of its kind on the African continent, the line was inaugurated on 15 November 2018, by King Mohammed VI of Morocco following over a decade of planning and construction. Government efforts are underway to encourage Moroccans living abroad to increase their investments at home, and to allay concerns about bureaucracy and corruption. This leaves Morocco with some 1.03m unemployed, compared to 1.06m at the end of March. Please update this article to reflect recent events or newly available information. Among the various free trade agreements that Morocco has ratified with its principal economic partners, are The Euro-Mediterranean free trade area agreement with the European Union with the objective of integrating the European Free Trade Association at the horizons of 2012; the Agadir Agreement, signed with Egypt, Jordan, and Tunisia, within the framework of the installation of the Greater Arab Free Trade Area; the US-Morocco Free Trade Agreement with United States which came into force on 1 January 2006, and lately[when?] Due in part to the rebounding of the agricultural sector, which had suffered from a 2007 drought, the economy expanded 5.6% in 2008, with 5.7% growth forecasted for 2009. In an increasingly challenging global economic climate, the IMF expects continued nonagricultural expansion of the Moroccan economy. In 1987–97, science and engineering students accounted for 41% of college and university enrollments. The turnaround in the fiscal performance is particularly noteworthy. The European Union is Morocco's top client as regards textile and clothing, with France importing 46% of hosiery, 28.5% of basic textile and 27.6% of ready-to-wear clothing from Morocco, managing director of the Moroccan Export Development Center underlined. [49] The Kingdom is considered the largest fish market in Africa, with an estimated total catch of 1,084,638 MT in 2001. The franchising segment will continue to grow, and while strong local brands are emerging, international brand names will continue to account for the biggest percentage increase in the sector's turnover. Joblessness has long been a cause for serious concern in North Africa. Morocco exports citrus fruits and early vegetables to the European market. In these conditions and taking into consideration a cereal campaign nearing 70 million quintals, the agricultural value added could increase by 22.2% in the first quarter of 2009, thus contributing 2.9% to the national economic growth.[36][37]. In a statement, released in July 2008, the IMF called Morocco "a pillar of development in the region" and congratulated King Mohammed VI and the Central Bank on Morocco's continued strong economic progress and effective management of monetary policy.[31]. In 1998 the government created Maroc Telecom (Ittiṣālāt al-Maghrib), which provides telephone, cellular, and Internet service for the country. Its main exports to Spain include electronics, clothes, and seafood. In 2008 8 million tourists have visited the kingdom. Overall the contribution of industrial activity to GDP fluctuates between about 25% and 35% every year, depending on the performance of the agriculture sector. The IT sector generated a turnover of Dh7 billion ($910,000m) in 2007, which represented an 11% increase compared to 2006. More important is that cereal yields determine not only the aggregate value added in the agricultural sector but also economic growth in general. Moroccan economic policies brought macroeconomic stability to the country in the early 1990s but did not spur growth sufficient to reduce unemployment despite Moroccan Government's ongoing efforts to diversify the economy. The insurance sector in Morocco is witnessing dynamic growth, driven foremost by developments in life insurance, which has superseded motor insurance in the past two years as the leading segment of the market with around one-third of total premiums. The government introduced a series of structural reforms in recent years. Following the example of Renault, they could take advantage of the skilled work pool that has been created and a network of more than 200 automotive suppliers. Improved transport has brought the city into more direct contact with potential visitors. The most important long-distance train services are: The ONCF operates special night-trains on the long-distance main-line links. During that time the Moroccan government committed significant resources – by way of loans and tax exemptions – to the development of the tourist industry and associated services. Timetable[9] for this section: The plan's principal priority was to create some 900,000 new jobs and to train managers and workers in modern agricultural and industrial techniques. exports in 2018, 42% went to Spain and 29% went to France. The country has to import 96% of its energy requirements and the national oil bill for the first quarter of 2008 was $1.1 billion—69% higher than for the same period in 2007. No couchettes are available. In 1st class, however, each seat is manually assigned. Morocco suffers both from structural unemployment and a large external debt. [13] A freight-line from the Renault factory at Tangier MED is already operational[14] The Marrakech to Agadir railway is also planned to be completed by 2025,[15] becoming the first rail line to reach the southern Souss-Massa region. [citation needed], Morocco faces challenges on human development outcomes despite progress over the past decade, in particular. Many believe, however, that the process of economic reform must be accelerated in order to reduce urban unemployment below the current rates above 20%. – Art19", http://www.oxfordbusinessgroup.com/weekly01.asp?id=4675#english, http://www.allbusiness.com/africa/1035405-1.html, http://www.map.ma/eng/sections/economy/development_efforts/view, "Morocco among the top ten countries in offshoring sector – Magharebia", "Gartner Identifies Top 30 Countries for Offshore Services in 2008", "Gartner picks top 30 countries for offshore IT outsourcing", "ANIMA News : Morocco and Egypt enter the latest Gartner's offshore IT 'Top 30, http://www.oxfordbusinessgroup.com/weekly01.asp?id=4644#english, http://www.oxfordbusinessgroup.com/weekly01.asp?id=4661#english, "Spain Remains Morocco's Top Trade Partner in EU", "Moroccan government brings in plan to reduce trade imbalance – Magharebia", http://portal.unesco.org/education/en/files/55536/11998897825Morocco.pdf/Morocco.pdf, "Export Solutions | International Trade Administration", "Tanger Med Port Authority – GROUPE TANGER MED", http://www.iea.org/Textbase/npsum/morocco2014sum.pdf, "Morocco unveils $9 billion solar power scheme", "Germany to participate in Morocco's solar energy project", "WB to contribute to Morocco's solar energy project", Kingdom of Morocco—Country Strategy Paper 2003–2005, Description of benefits of the US-Moroccan FTA, Moroccan-American Trade and Investment Council, Maroc Entrepreneurs: Association dedicated to the Promotion of Entrepreneurship in Morocco, World Bank Summary Trade Statistics Morocco, Trade-Related Aspects of Intellectual Property Rights, Special administrative regions of the People's Republic of China, Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu, https://en.wikipedia.org/w/index.php?title=Economy_of_Morocco&oldid=1003448705, World Trade Organization member economies, Articles with dead external links from January 2018, Articles with permanently dead external links, Short description is different from Wikidata, Articles needing additional references from July 2009, All articles needing additional references, Articles with unsourced statements from September 2019, Articles with unsourced statements from May 2009, All articles with vague or ambiguous time, Vague or ambiguous time from October 2014, Articles with unsourced statements from October 2014, Articles with unsourced statements from April 2012, Wikipedia articles in need of updating from October 2019, All Wikipedia articles in need of updating, Vague or ambiguous time from October 2019, Articles with dead external links from August 2019, Creative Commons Attribution-ShareAlike License, clothing and textiles, automobiles, aircraft parts, electric components, inorganic chemicals, transistors, crude minerals, fertilizers (including phosphates), petroleum products, citrus fruits, vegetables, fish, Main lines in use: 3.28 million (2012) : estimation, Mobile cellular: 47.25 million [135% of the total population] (2015) : estimation, Internet users: 21.2 million [60.6% of the total population] (2014): estimation, Tariffs applied by Morocco as provided by ITC's, Officially the Republic of China, participates as ", This page was last edited on 29 January 2021, at 01:18. All maps come in two level of details: High and Low. Expectations for 2008 were promising noting that 72 projects were approved for a global amount of $9.28 billion. The approach also include a better sustaining of small-business development and prospection of external markets. More broadly, the Moroccan insurance sector is already consolidated, with five large players controlling the market. Morocco may have additional hydrocarbon reserves, as many of the country's sedimentary basins have not yet been explored. However, the worldwide call centre industry is highly competitive and education is the key to success if Morocco truly intends to become a leading international player in this industry.[51]. The service is offered by the subsidiary Menara. The loan was taken to fund two investment projects.[38]. Use the list below to select a map you need. Countries from all over the world. Morocco produces a number of minerals and metals, most importantly, phosphates, silver and lead. 19.3% of the investments came from Arab countries, whose share in Morocco's FDI showed a marked rise, as they only represented 9.9% of the entire FDIs in 2006. Morocco's economy is the 61st largest in the world, according to the IMF, though its per-capita GDP is low compared to similarly ranked nations. According to the International Energy Agency (IEA) report 2014, Morocco is highly dependent on imported energy with over 91% of energy supplied coming from abroad. The input of renewable energy is a matter of particular importance.[51]. [51], The telecoms sector increased in value from Dh25.6 billion ($3.3 billion) in 2006 to Dh33.3 billion ($4.2 billion) in 2007. [86] Germany will also take part in the development of a water-desalination plant. Features include: Beautiful Robinson Projection; Small size (140 KB) loads quickly; Nearly all countries/territories with a unique 2-digit ISO code; All objects identified with ISO Code and Name Industries singled out for development included chemicals (especially phosphoric acid), phosphate production, paper products, and metal fabrication. The future of the Moroccan IT sector was laid out in Maroc 2006–12. Fitch Ratings affirmed Morocco's long-term local and foreign issuer default ratings of "BBB-" and "BBB", respectively, with a stable outlook. [51], While Morocco is already a model of water management in the MENA region, upgrades to its water system under the National Wastewater Management Programme should further improve wastewater treatment and maximise efficient water usage. You can use programming to automatically generate data into the svg file. Before 1956, Tangier was a city with international status. The agriculture sector is being rehabilitated, which in combination with good rainfalls led to a growth of over 20% in 2009. Macroeconomic stability coupled with relatively slow economic growth characterized the Moroccan economy over the period 2000–2005. The service started as a test in November 2002 before it was launched in October 2003. The sector also attracts high levels of FDI and authorities have announced initiatives to improve the investment climate, with particular attention to off-shoring activities, automotive, aeronautics, electronics, food processing activities, products from the sea and textiles. In May 2009, the World Bank approved a €121m loan to help finance the implementation of the kingdom's solid-waste management programme, which targets a 90% waste disposal rate for urban areas by 2021. Tough government reforms and steady yearly growth in the region of 4–5% from 2000 to 2007, including 4.9% year-on-year growth in 2003–2007 the Moroccan economy is much more robust than just a few years ago. It is called Al-Boraq (البُراق) in reference to the mythical creature that transported the Islamic prophets. The insurance penetration rate is 2.87% of GDP, while the insurance density is $69 per person. Urban areas saw particularly strong job growth, and the services and construction sectors were the two leading drivers of job creation. The ceremony was attended by U.S. Secretary of State Hillary Clinton and the Moroccan king. Despite these challenges, Morocco is working to conserve and protect its environment and its efforts were recognised when its Mohammed VI Foundation for Environment won the environmental prize National Energy Globe Award in Brussels in 2007. Morocco's iron and steel manufacturing industry is small but provides a significant share of the country's domestic needs. Marrakech continues to be the market leader, but the case of Fez, showing a 20% increase of visitors in 2004, gives hope that better organisation can bring results in diversifying the sector as a whole. It allowed Tangier to become an industrial pillar of the country. Large industrial projects included phosphoric acid plants, sugar refineries, mines to exploit cobalt, coal, silver, lead, and copper deposits, and oil-shale development.[29]. At the end of November 2008, the state's budget registered a surplus of MAD 3.2 billion ($372 million), while at the end of November 2009, the budgetary surplus is projected at MAD 6.9 billion ($803 million).[34]. ", "Ceremony launches Tanger – Casablanca high speed project", "Africa's first high speed line inaugurated", "Inauguration du TGV marocain: ce qu'il faut savoir sur ce méga projet (Round up)", "ONCF to buy 14 Duplex high speed trains", Maroc : Bientôt deux lignes de tram à Tanger, L'ONCF triple la voie ferrée Kénitra – Casablanca, First train of cars from the Renault factory at Tangier Med, "Marrakech-Agadir Railroad Construction on Track to Completion by 2025", https://en.wikipedia.org/w/index.php?title=Rail_transport_in_Morocco&oldid=1009763295, Articles with French-language sources (fr), Articles with dead external links from April 2018, Articles with permanently dead external links, Articles which use infobox templates with no data rows, Creative Commons Attribution-ShareAlike License, For more information on the Taourirt-Nador branch line, see, This page was last edited on 2 March 2021, at 05:08. Southbound: 21:15 Casablanca-Oujda. The shift to an environment-conscious approach in Morocco has brought about scores of investment opportunities, most being in the utility and renewable energy industries. The government wishes to increase 3 exports from $1.27 billion in 2001 to $3.29 billion in 2010. It is situated in the Tangiers free economic zone and serves as a logistics hub for Africa and the world. Sales of fish and seafood are important as well. [24], The youth unemployment rate is 42.8% in 2017. Industry and mining contribute about one-third of the annual GDP. In addition to the rise in sales of photovoltaic panels, the business of wind turbines is also surging despite soaring prices on international markets because of the growing demand. Mean wages were $2.88 per man-hour in 2009. The internet is available. With 30.5% of Morocco's population of 34.3m aged 14 or younger, according to the CIA, job creation for the young is one of the government's major priorities. High unemployment is a problem; the official figure icaca pedos. In 2007 macroeconomic growth, excluding the agricultural sector, remained quite robust, providing the background for dynamic growth in banking credits. This strategy provides for creating 160,000 beds, thus bringing the national capacity to 230,000 beds. [48], The fishing industry in Morocco is a leading foreign exchange earner, accounting for 56% of agricultural and 16% of total exports. There is a microwave radio relay to Gibraltar, Spain and the Western Sahara. The plan called for a growth rate of 6.2%, but by 1964 the growth rate had only reached only 3%. Around the start of the 21st century, Morocco's overall deficit stood at 5.3 percent of GDP, and gross total government debt amounted to three-fourths of GDP. Morocco's trade imbalance rose from 86 billion to 118 billion dirhams between 2006 and 2007 – a 26.6% increase bringing the total amount to 17% of GDP. This increased the need for a commercial district, Tangier City Center, which was inaugurated in 2016. The Moroccan Ministry of Equipment, Transport, Logistics, and Water aims to build an additional 3380 kilometers of expressway and 2100 kilometers of highway by 2030, at an expected cost of $9.6 billion. Morocco consistently ranks among the world's largest producers and exporters of cannabis, and its cultivation and sale provide the economic base for much of northern Morocco. The sectors that recorded the highest growth are the tourism, telecoms, and textile sectors. Morocco has become an attractive destination for European investors thanks to its relocation sites "Casashore" and "Rabatshore", and to the very rapid cost escalation in Eastern Europe. These were due to open 40,023 direct and stable job opportunities. [39], Agriculture employs about 40% of Morocco's workforce. However, the overall deficit is projected to widen to 3.5 percent of GDP in 2008, driven by the upward surge in the fiscal cost of Morocco's universal subsidy scheme following the sharp increase in world commodity and oil prices. Investment was low and the city lost its economic importance. A train will operate every 2 hours between the port and Tangier city. This agreement, which lies within the scope of the Barcelona Process (euro-Mediterranean partnership) started in 1995 and envisages the progressive implementation of a free trade area planned for 2012. The retail industry represents 12.8% of Morocco's GDP and 1.2m people – 13% of the total workforce – are employed in the sector. The following table shows the main economic indicators in 1980–2017.[28]. [36][37], By the end of December 2008, rainfalls exceeded that of an ordinary year by 106%. The largest project is the high a high-speed railway from Tangier via Rabat and Casablanca to Marrakech. Alternatively, you can scrape any existing map from a quiz using inspect-element in the browser. It also aims to create some 600,000 new jobs. Northbound: 21:00 Oujia-Casablanca Morocco's economy is expected to grow by 6.5% in 2008, according to the Moroccan finance minister. The plan also includes other large-scale development projects such as upgrading regional airports to attract budget airlines, and building new train and road links. The global financial crisis affected the Moroccan economy in only a limited way. In November 2009 Morocco announced a solar energy project worth $9 billion which officials said will account for 38 percent of the North African country's installed power generation by 2020. Food processing for export (canning fish, fresh vegetables, and fruit) as well as for domestic needs (flour milling and sugar refining) is also important, and the manufacture of textiles and clothes using domestically produced cotton and wool is a major source of foreign exchange. Morocco has developed an ambitious strategy, dubbed "Vision 2010", aimed at attracting 10 million tourists by 2010. Tourist receipts in 2007 totalled US$7,55 billion. Key agricultural products include fruits and vegetables (grown in the few oases); camels, sheep, goats (kept by nomads.) Under the development plan, the sector should employ 125,000 people by 2012 and contribute 10% of GDP. In 1995, Morocco's worst drought in 30 years forced Morocco to import grain and adversely affected the economy. Follow this tips to find any map on the website. The Tangier - Casablanca line is the first phase of what is planned to eventually be a 1,500 kilometers (930 mi) high-speed rail network in Morocco. According to the Moroccan Advertisers Group, Dh3.9 billion ($507 million) was spent in 2007, a near-fourfold increase on the Dh1.1 billion ($143 million) spent in 2000. The government also made direct capital investments in the development of the service sector, but since the early 1990s it has begun to divest itself of these properties. At the same time the board called upon the international community to support its efforts where possible. At the launch of service in 2018, the travel time between Casablanca and Tangier was reduced from 4 hours and 45 minutes to 2 hours and 10 minutes. E-commerce is likely to take off in the next few years, especially as the use of credit cards is gaining more ground in Morocco. Trains on this section normally run to and from Bin Anşār or Nador Port. The five-year plan for 1973–77 envisaged a real economic growth of 7.5% annually. Timetable for this section:[9] Economic growth is far more diversified, with new service and industrial poles, like Casablanca and Tangier, developing. However, this proved unsustainable and growth scaled back sharply to just 8.2% in the 1980s and 8.9% in the 1990s. GDP growth in 2007 was only 2.2% due to a poor harvest caused by prolonged periods of drought; Morocco experienced nonagricultural GDP growth of 6.6 percent in 2007. Northbound: Nador (17:43), Fes (23:00), Tangier (07:00) You can search by category, country or tag. The cannabis is typically processed into hashish. Morocco is expected to close the year 2008 with a budgetary surplus ranging between MAD 3 billion and MAD3.5 billion ($348 million to $407 million),[34] despite a difficult international context marked by a severe economic crisis. These agreements contributed undoubtedly in a positive way towards the emergence of export activities in the country. Still average purchasing power remains low overall, forcing retailers to cater to a broad section of the population and to keep prices low. In the European market, the share of Chinese products was 37.7% in 2007. The night-train on this route only offers 2 person sleeping compartments with full beds. [citation needed], The mining sector is one of the pillars of Morocco's economy. There is also the possibility that new insurance niches such as takaful (Islamic insurance) and microinsurance products will become part of the Moroccan market in the medium-term, but they are unlikely to appear in the near future. As of 2019, the rolling stock operating on the line consists of 12 Alstom Euroduplex trainsets, with each set comprising two power cars and eight bilevel passenger cars. Morocco has made great progress toward fiscal consolidation in recent years, under the combined effect of a strong revenue performance and efforts to tackle expenditure rigidities, notably the wage bill. Morocco is the world's third-largest producer of phosphates (after the United States and China), and the price fluctuations of phosphates on the international market greatly influence Morocco's economy. unemployment from 22% in 1999 to 18.3% in 2005, and the national rate from 13.9% in 1999 The danger of drought is ever present and still dramatically affects the Moroccan economy, even though Moroccan decisionmakers have recently[when?] Fiscal policy decisions so far have been mostly discretionary, as there is no explicit goal for fiscal policy.
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