The production of textiles and clothing is part of a growing manufacturing sector that accounted for approximately 34% of total exports in 2002, employing 40% of the industrial workforce. However, keeping with the global trend, FDI dropped 29% to €2.4 billion in 2008,[63] the first decline since 2004. Morocco could soon welcome new names (in two to three years), such as Toyota and Hyundai, having already shown their interest in the attractive conditions offered. 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. The overall fiscal deficit shrank by more than 4 percentage points of GDP during the last four years,[41] bringing the budget close to balance in 2007. Although computer and internet use have made a great leap forward in the past five years, the IT market still finds itself in infancy and offers great potential for further development. The night-train on this route only offers 2 person sleeping compartments with full beds. 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. It is also a major participant in the car and truck assembly industry and in tire manufacturing. Morocco has a good system composed of open-wire lines, cables, and microwave radio relay links. 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. The main network for passenger-transport consists of a North–South link from Tangier via Rabat and Casablanca to Marrakech and the East–West connection linking Oujda in the East via Fes to Rabat. Please update this article to reflect recent events or newly available information. New developments include a new airport terminal, a soccer stadium with seating for 45,000 spectators, a high-speed train line and a new highway to connect the city with Casablanca. The agriculture sector is being rehabilitated, which in combination with good rainfalls led to a growth of over 20% in 2009. 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. Further institutional reforms to bolster competitiveness and financial openness are expected to help the trend to continue. A bed or couchette has fixed price, regardless of the travelling route or distance. The loan was taken to fund two investment projects.[38]. Africa :: Morocco — The World Factbook - Central Intelligence Agency. The Kingdom’s fast integration into the global economy was also facilitated by numerous free trade agreements with the United States and the European Union. The plan called for significant expansion of irrigated land, for increased public works projects such as hospitals and schools, and for economic decentralization and regional development through the construction of 25 new industrial parks outside the crowded Casablanca-Kénitra coastal area. The Moroccan Office of Hydrocarbons and Mining (ONHYM) has become optimistic about finding additional reserves—particularly offshore—following discoveries in neighboring Mauritania. Macroeconomic stability coupled with relatively slow economic growth characterized the Moroccan economy over the period 2000–2005. The HoR or LNA controls all of the Cyrenaica and parts of Fezzan and Tripolitania regions. [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. However, the results obtained show considerable disparities in terms of the distribution of the fruit of this growth, whether between the production factors, the socio-economic groups or the urban and rural areas. 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]. Founded in 1929, it is one of the oldest stock exchanges in Africa, but it came into reckoning after financial reforms in 1993,[65] making it the third largest in Africa. 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. Since 1993, Morocco has followed a policy of privatization of certain economic sectors which used to be in the hands of the government. Last, you need to put your data in the map. Morocco has two major "traditional" car manufacturers: Renault and PSA. Unemployment stood at 9.8% at the end of 2007, up 0.1% from the end of 2006. The following table shows the main economic indicators in 1980–2017.[28]. 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. 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. significantly, also taking account of the constant rise in the number of first entrants on the The input of renewable energy is a matter of particular importance.[51]. Timetable[9] for this section: Fishing and phosphate mining are the main activities in the region. [74] Although other studies have shown much higher figures. While the recovery of pre-crisis levels very much hinges on the health of the global economy, Morocco has made steps towards becoming a more attractive FDI destination, according to the World Bank's Doing Business 2010 report, ranking second in North African neighbours. The principal switching centers are Casablanca and Rabat. Other major goals were to increase production in agriculture and fisheries to make the country self-sufficient in food, and to develop energy, industry, and tourism to enable Morocco to lessen its dependence on foreign loans. Morocco sends a significant amount of its exports to the European Union. Free World SVG Map | Resources. The largest project is the high a high-speed railway from Tangier via Rabat and Casablanca to Marrakech. The city is undergoing an economic boom. The Internet has made steady inroads in Morocco; major institutions have direct access to it, while private individuals can connect via telecommunications "boutiques", a version of the cyber cafés found in many Western countries, and through home computers. In 2007 macroeconomic growth, excluding the agricultural sector, remained quite robust, providing the background for dynamic growth in banking credits. Southbound: Casablanca (19:45), Fez (0:15), Nador (06:00). The government wishes to increase 3 exports from $1.27 billion in 2001 to $3.29 billion in 2010. However, this proved unsustainable and growth scaled back sharply to just 8.2% in the 1980s and 8.9% in the 1990s. Today, it is home to the largest Renault car plant in North Africa. The IT sector generated a turnover of Dh7 billion ($910,000m) in 2007, which represented an 11% increase compared to 2006. ... SVG, JPG, PNG Archive size: 10.3MB. Moroccan officials have heralded a significant increase in the amount of money Moroccan expatriates are sending home. Since then the emphasis has shifted to privatizing state operations and attracting new private investment, including foreign sources. Morocco remains the preferred destination of foreign investors in the Maghreb region (Algeria, Libya, Mauritania, Morocco and Tunisia), with a total of $13.6 billion between 2001 and 2007, which puts it largely on the top of the list. This approach highlighted the need for effective institutional coordination, which enabled different parties to work together around common priority socioeconomic objectives. This strategy provides for creating 160,000 beds, thus bringing the national capacity to 230,000 beds. Also feel free to use Search field in the header. Real GDP growth is expected to average 5.5% in the 2009–13 period, seen the prospects in the tourism and the non-agricultural industry, as demand growth in the Eurozone — Morocco's key export market and source of tourists is projected to be more subdued. Growth in 2006 went above 9%, this was achieved by a booming real estate market. This process started with the sale of a second GSM license in 1999. The most promising reforms have been in the liberalization of the telecommunications sector. 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. Timetable[9] for this section: Northbound: 21:00 Oujia-Casablanca Recent activity in Western Sahara, which is believed to contain viable hydrocarbon reserves, has been controversial. 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]. Although Morocco's economy grew in the early 2000s, it was not enough to significantly reduce poverty. [29], Through a foreign exchange rater anchor and well-managed monetary policy, Morocco held inflation rates to industrial country levels over the past decade. 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. [50], The Moroccan industrial sector looks set to continue the strong growth it has enjoyed in recent years. Morocco's primary economic challenge was to accelerate growth in order to reduce high levels of unemployment. Industries singled out for development included chemicals (especially phosphoric acid), phosphate production, paper products, and metal fabrication. There are now direct flights from France, where previously it was necessary to change plane in Casablanca.[54]. 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. These were due to open 40,023 direct and stable job opportunities. Two successive years of drought led to a 1% incline in real GDP in 1999 and stagnation in 2000. When king Hassan II passed on, his son, Mohammed VI, made it his duty to develop the Northern Region, and especially its biggest city, Tangier. Save it as image or JavaScript code for easy publishing on your own website. 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. Beds and couchettes have to be reserved when tickets are brought.[9]. No couchettes are available. Morocco has become a major player in African economic affairs, and is the 5th largest African economy by GDP (PPP). 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. The National Plan for the Development of Solar Thermal Energy, formulated in 2001, aims to install 440,000 solar-powered water heaters by 2012, of which 235,000 are completed.[51]. jordan icon map vector free download svg eps png psd ai download jordan icon map svg eps png psd ai vector color free .