Over the past decades, Morocco has implemented extensive structural and sectoral reforms aimed at strengthening the economy’s overall competitiveness and integrating it better into the global economy. The business environment has improved, following reforms to simplify administrative procedures, and Morocco’s 2017 Doing Business ranking improved to 68 (against 75 in 2016). As a result, the economy has undergone major changes that have improved macroeconomic performance and increased resilience to shocks. Morocco is among the few countries that have maintained their sovereign rating at investment grade, despite a difficult external environment, particularly in the euro zone which is their main economic partner.
Key Indicators |
||
| Population in millions, 2022 | 36.7 | |
| GDP per Capita, U.S. dollars, 2022 | 3570 | |
| GDP Growth, percent, 2022 | 1.3 | |
| Inflation, CPI average, change in percent, 2022 | 6.6 | |
| General Government Debt, percent of GDP, 2022 | 71.5 | |
| Source: WEO, October 2023 | ||
Automotive Industry
- About 177 automotive industry companies based in Morocco
- 1st Moroccan exporter sector since 2014
- 2nd manufacturer in the continent
Main groups
- RENAULT, SNOP, GMD, BAMESA, DELPHI, YAZAKI, SEWS, SAINTGOBAIN, PSA Peugeot Citroën
Key objectives
- Increase the local integration rate at 80% through the development of ecosystems driven by FDI
- Production of 600,000 cars and 200,000 engines
Aeronautics
- About 115 aeronautic industry companies
- 4.5% of exports compared with 1% a decade ago
- 17% average annual growth since 2010
Main groups
- BOMBARDIER, EADS, BOEING, SAFRAN, LISI AEROSPACE, LE PISTON FRANÇAIS, DAHER, SOURIAU, RATIER FIGEAC, EATON, AEROLIA, LES ATELIERS DE LA HAUTE GARONNE, ALCOA
Key objectives
- Increase the local integration rate to 35% from 18% currently
Textiles
- About 1,200 textile and leather industry companies
- 7% of industrial value added
Strategic activities
- Technical Textile, Fast Fashion, Denim, Home Textile & Knitting
Main groups
- FRUIT OF THE LOOM, DÉCATHLON…
Key objectives
- + 5 billion MAD of export sales
- Attract +70 locomotive ecosystem investment projects
Renewable Energy
- Masen Group—dedicated actor in charge of developing a renewable energy ecosystem enabling socio-economic development relying on an attractive investment framework
- Solar power—About 1500 MW of installed capacity developed or under development in 2016
- Wind power—About 2000 MW of installed capacity developed or under development in 2016
- Hydropower—About 1800 MW of installed capacity developed or under development in 2016
- Overall target is to reach 52 % installed capacity (solar, wind, hydro) by 2030 involving a significant pipeline of projects of more than 10,000 MW to be implemented by public and private sectors
Infrastructure & Logistics
Objective is to improve infrastructure to accompany industrial acceleration through greater private sector participation under PPPs.
Road Plan 2035
- 2,000 km of expressway
- 45,000 km of rural roads
- 2,000 km of roads rehabilitated / year
- 1700km highways, double by 2035
Rail Plan 2040
- 2,743 Km of lines
- 1,563 Km of high-speed train lines
- 63 km Mohammedia: Casablanca—Airport Med V
Port Strategy 2030
- 2 major port complexes currently under construction: Kénitra Atlantic (Phase I), Nador West-Med (Phase I)
- 6 new ports: Dakhla Atlantic
- 4 existing ports will be expanded
Airports Development 2030
- Increasing capacity from 28 to 90 million passengers a year
- Strengthening Casablanca Mohamed V Airport position as a regional hub
- Relocation project of Marrakech Menara Airport
- Extension of several airports
Logistics Competitiveness 2030
- Creation of 70 logistics zones in 28 cities on 3,300 ha of which 1,080ha in the medium term.
- Four main logistics parks: Deroua / Oulad Saleh / Nouaceur / Lakhyayata
See Full Prospectus
