Morocco


Morocco Country Report: GDP data and GDP forecasts; economic, financial and trade information; the best banks in Morocco; country and population overview

DATA ON GDP AND ECONOMIC INFORMATION
Central bank Bank of Morocco
International Reserves US$ 20.611 billion (Source: IMF; Data updated: 2012)
Gross Domestic Product - GDP US$ 100.354 billion (2011 estimate)
GDP (Purchasing Power Parity) 170.794 billion of International dollars (2011 estimate)
Real GDP growth
2001 2002 2003 2004 2005 2006 2007 2008
7.6% 3.3% 6.3% 4.8% 3% 7.8% 2.7% 5.6%
2009 2010 2011 2012*
4.9% 3.7% 4.3% 3.7%

*Estimate

GDP per capita - current prices US$ 3,086 (2010 estimate)
GDP per capita - PPP $5,252 International Dollars (2010 estimate)
GDP (PPP) - share of world total
1980 1990 2000 2010 2015**
0.2% 0.21% 0.18% 0.21% 0.21%

**Forecast

GDP - composition by sector
  • agriculture: 16.6% 
  • industry: 32.3% 
  • services: 51% (2011 estimate)
  • (Data released on February 2012)

Gross domestic expenditure on R&D (% of GDP) N/A

(Data released on March 2012)

Inflation
2009 2010 2011 2012*
1%(2008) 1% 0.9% 2%

*Estimate

Unemployment rate
2009 2010 2011 2012*
9.1% 9.1% 9%(2009) 8.9%

*Estimate

Household saving rates N/A

(Data released on December 2011)

Public debt (General government gross debt as a % of GDP)
2008 2009 2010 2011 2012*
48.2% 48% 51.3% 54.4% 56%

*Estimate

Public deficit (General government net lending/borrowing as a % of GDP)
2008 2009 2010 2011* 2012**
0.7% -1.8% -4.4% -6.9% -5.4%

*Estimate    **Forecast

Government bond ratings

Standard & Poor's: BBB-

Moody's rating: Ba1

Moody's outlook: STA

(Foreign Currency Government Bond Ratings; Data last updated Dec 2011 and Nov 2012)

Market value of publicly traded shares
2009 2010 2011
US$62.91 billion US$69.15 billion US$60.09 billion
Largest companies in Morocco Attijariwafa Bank (Regional Banks), Banque Centrale Populaire (Regional Banks) (2012)
DATA ON TRADE AND COMPETITIVENESS
Current account balance US$ -5.9 billion (2010 estimate)(After 2008)
Current account balance by percentage of GDP -5.9% of GDP (2010 estimate)(2009)
Exports as percent of GDP

(Exports of goods and services)

33% (2010)

(Data released on April 2012)

Shares in world total merchandising export 0.12%(2007)

(Data were released in 2012 and refer to 2011)

Shares in world total commercial services export 0.33% (2011)(2007)

(Data were released in 2012)

Total exports US$22.23 billion (2012 estimate) 
Export commodities clothing and textiles, electric components, inorganic chemicals, transistors, crude minerals, fertilizers (including phosphates), petroleum products, citrus fruits, vegetables, fish
Total imports US$42.49 billion (2012 estimate) 
Import commodities crude petroleum, textile fabric, telecommunications equipment, wheat, gas and electricity, transistors, plastics
Exports - major partners Spain 18.6%, France 16.9%, Brazil 6%, US 4.8%, India 4.5% (2011)
Imports - major partners France 15.4%, Spain 14.4%, China 7.7%, US 7.3%, Saudi Arabia 6.1%, Italy 5.1%, Germany 4.8% (2011)
FDI inflows
2009 2010 2011
US$1,952 million US$1,574 million(2009) US$2,519 million(2009)
FDI outflows
2009 2010 2011
US$470 million US$589 million US$247 million
Value of cross-border M&A, by country of purchaser
2008 2009 2010 2011
N/A US$324 million(2009) N/A(2009) US$17 million
Cross-border M&A deals worth over $3 billion completed in 2010

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A

(for a monthly update on M&A click here )

Cross-border M&A deals worth over $3 billion completed in 2011

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A(2008 estimate)

(for a monthly update on M&A click here )

Best countries for doing business

World Bank/IFC Doing Business Project

(Economies are ranked on their ease of doing business, from 1 - 185. A high ranking means the regulatory environment is more conducive to the starting and operation of a local firm.)

Overall ranking: 97 out of 185 countries(2009) (2013)

Subcategories:

Starting a business: 56 out of 185 countries(2009)

Enforcing Contracts: 88 out of 185 countries

Registering Property: 163 out of 185 countries

Getting credit: 104 out of 185 countries

Protecting investors: 100 out of 185 countries

Trading across border: 47 out of 185 countries

Paying Taxes: 110 out of 185 countries

Dealing with Construction Permits: 79 out of 185 countries

Getting Electricity: 92 out of 185 countries

Resolving Insolvency: 86 out of 185 countries

(2013)

Global competitiveness ranking
(ranking by country on a basis of 144, the first is the best)
70

(2012)

Index of Economic Freedom

WSJ and Heritage Foundation

Ranking: 87 Score: 60.2 (Moderately Free) (2009)

(100=totally free 0=totally repressed )

COUNTRY AND POPULATION OVERVIEW
Time zone UTC 0
Total area 446,550 km2 (2006)
Capital Rabat (2009)
Currency Moroccan dirhams (MAD) (2009)
Government type constitutional monarchy (2009)
Languages Arabic (official), Berber dialects, French often the language of business, government, and diplomacy
Religions Muslim 98.7%, Christian 1.1%, Jewish 0.2%
Total population
1980 1990 2000 2012* 2017**
19.33 million 24.04 million 28.47 million 32.52 million 34.15 million

*Estimate    **Forecast

Urban population as % of total population
1960 1980 2000 2011
29.4% 41.2% 53.3% 57%
Population median age 26 years (2010)
Population growth rate 1% (2011)
Life expectancy 72 years (2010)
Adult literacy 56% (2005/2010)
% of population living on less than $2 a day 13.97% (2011)
Inequality of wealth distribution (Gini index)

40.88 (2007)

(Data were released in 2011, 0=perfect equality, 100=absolute inequality)

Freedom House rating

Political Rights:5
Civil Liberties:4 (2011)

(1 represents the most free, 7 the least free)

Total telephone subscribers as % of population

124.31% (2011)

(sum of fixed telephone lines and mobile cellular subscribers)

Internet users as % of total population 51% (Data were released in 2012 and refer to 2011)
Cost of living - Mercer index

(ranking by city on a basis of 214; the 1st is the most expensive and the 214th is the least expensive)

Rabat: 166th (2011)

CO2 emissions
(Metric tons of CO2 per capita)

1.5431 (Data were released in 2012 and refer to 2009)

GLOBAL FINANCE RANKINGS AND AWARDS

WORLD'S BEST TRADE FINANCE BANKS & PROVIDERS

2013:
  • COUNTRY WINNERS Banque Populaire du Maroc (National, 2013)
2012:
  • COUNTRY WINNERS Arab Bank (Western Europe, 2012)

WORLD'S BEST INTERNET BANKS

2012:
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Citi (National, 2012)
2011:
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Citi (National, 2011)
2010:
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Citi (Global, 2010)
2009:
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Citi (National, 2009)

WORLD'S BEST EMERGING MARKET BANKS

2012:
  • COUNTRY WINNERS Attijariwafa Bank (Western Europe, 2012)
2011:
  • COUNTRY WINNERS Attijariwafa Bank (2011)
2010:
  • COUNTRY WINNERS Attijariwafa Bank (Global, 2010)
2009:
  • COUNTRY WINNERS Attijariwafa Bank (National, 2009)

CENTRAL BANKER REPORT CARD

2012:

WORLD'S BIGGEST BANKS

2010:
  • BIGGEST BANKS IN AFRICA Attijariwafa bank (Western Europe, 2010)
  • BIGGEST BANKS IN AFRICA Banque Centrale Populaire (Western Europe, 2010)
  • BIGGEST BANKS IN AFRICA Banque Marocaine du Commerce Extérieur (Global, 2010)

TOP 200 EMERGING MARKETS BANKS

2010:
  • OVERALL BIGGEST Attijariwafa bank (Global, 2010)
  • OVERALL BIGGEST Banque Centrale Populaire (Global, 2010)
  • OVERALL BIGGEST Banque Marocaine du Commerce Extérieur (Western Europe, 2010)
ARTICLES AND COUNTRIES REPORTS FROM GLOBAL FINANCE ARCHIVE