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Country Background
The Kingdom of Morocco is situated on the northwestern cusp of Africa, approximately 12 miles from Spain across the Strait of Gibraltar. For the past 3,000 years, this strategic location has contributed to the overall global visibility of Morocco. Since achieving independence from French colonization, Morocco has made significant inroads toward economic prosperity. In the early 1980s Morocco implemented reform programs encouraged by the International Monetary Fund (IMF) and the World Bank. Through the present decade, these reforms have resulted in a shift toward export-oriented production, privatization, and government fiscal policy reform.
Area - comparative: slightly larger than California Land
boundaries: Coastline: 1,835 km Climate: Mediterranean, becoming more extreme in the interior Terrain: northern coast and interior are mountainous with large areas of bordering plateaus, intermontane valleys, and rich coastal plains Natural resources: phosphates, iron ore, manganese, lead, zinc, fish, salt Land use: arable land: 21%; permanent crops: 1%; permanent pastures: 47%; forests and woodland: 20%; other: 11% Irrigated land: 12,580 sq km Natural hazards: northern mountains geologically unstable and subject to earthquakes; periodic droughts Environment - current issues: land degradation/desertification (soil erosion resulting from farming of marginal areas, overgrazing, destruction of vegetation); water supplies contaminated by raw sewage; siltation of reservoirs; oil pollution of coastal waters Environment
- international agreements:
Economy - overview: Morocco faces the problems typical of developing countries - restraining government spending, reducing constraints on private activity and foreign trade, and achieving sustainable economic growth. 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 dirham is now fully convertible for current account transactions; reforms of the financial sector have been implemented; and state enterprises are being privatized. Drought conditions depressed activity in the key agricultural sector, and contributed to an economic slowdown in 1999. Favorable rainfalls have led Morocco to predict a growth of 6% for 2000. Formidable long-term challenges include: servicing the external debt; preparing the economy for freer trade with the EU; and improving education and attracting foreign investment to improve living standards and job prospects for Morocco's youthful population.
GDP: purchasing power parity - $108 billion GDP - real growth rate: 0% GDP - per capita: purchasing power parity - $3,600 GDP - composition by sector: agriculture: 16%; industry: 30%; services: 54% Population below poverty line: 13.1% Inflation rate (consumer prices): 1.9% Labor force: 11 million Labor force - by occupation: agriculture 50%, services 35%, industry 15% Unemployment rate: 19% Budget: Industries: phosphate rock mining and processing, food processing, leather goods, textiles, construction, tourism Industrial production growth rate: 2% Agriculture - products: barley, wheat, citrus, wine, vegetables, olives; livestock Exports - $6.9 billion, primarily food and beverages 30%, semiprocessed goods 23%, consumer goods 21%, phosphates 17% Exports - partners: France 27%, Spain 11%, India 7%, Japan 6%, Italy 5% Imports - $9.7 billion, primarily semiprocessed goods 26%, capital goods 25%, food and beverages 18%, fuel and lubricants 15%, consumer goods 12%, raw materials 4% Imports - partners: France 22%, Spain 10%, US 7%, Germany 6%, Italy 6% Defense Spending - 3.7% of GDP Debt - external: $19.1 billion Economic aid - recipient: $565.6 million Currency: 1 Moroccan dirham (DH) = 100 centimes
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