Monday, June 3, 2024

Morocco Economy 6-3-24

Nominal GDP $147.343B, Per capita GDP, $3,979.87 Population, 37,840,044, Debt to GDP 69.7% Inflation 20.4%, Unemployment 13%, Labor force participation men 68.3% women 19.8% Land area 172,413 sq miles, Arable land area 33,000 sq miles, In 2022 Exports $46.7B, Imports $73.71B, Trade Deficit $27.01B,

Morocco has increased exports by $15.3B from $31.4B in 2017 to $46.7B in 2022.

Imports include semimanufactures and industrial equipment, crude oil, and food commodities. In February 2024 the top imports of United States from Morocco were Citrus ($25.4M), Semiconductor Devices ($23.2M), Phosphatic Fertilizers ($19.3M),

Exports include agricultural produce (citrus fruits and market vegetables), semi-processed goods and consumer goods (including textiles), and phosphates and phosphate products.

Despite gains in poverty reduction, literacy and lifespans, Morocco economy continues to face a high share of inactive youth, large gaps in economic opportunities for women, a fragmented social protection system, and remaining barriers to private sector development.

Comments

Morocco’s Trade Deficit at $27B is still too high. Lower crude oil prices will help.

Norb Leahy, Dunwoody GA Tea Party Leader

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