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In 788, about a century after the Arab conquest of North Africa, a series of Moroccan Muslim dynasties began to rule in Morocco. In the 16th century, the Sa'adi monarchy, particularly under Ahmad al-MANSUR (1578-1603), repelled foreign invaders and inaugurated a golden age. The Alaouite Dynasty, to which the current Moroccan royal family belongs, dates from the 17th century. In 1860, Spain occupied northern Morocco and ushered in a half century of trade rivalry among European powers that saw Morocco's sovereignty steadily erode; in 1912, the French imposed a protectorate over the country. A protracted independence struggle with France ended successfully in 1956. The internationalized city of Tangier and most Spanish possessions were turned over to the new country that same year. Sultan MOHAMMED V, the current monarch's grandfather, organized the new state as a constitutional monarchy and in 1957 assumed the title of king. Since Spain's 1976 withdrawal from what is today called Western Sahara, Morocco has extended its de facto administrative control to roughly 80% of this territory; however, the UN does not recognize Morocco as the administering power for Western Sahara. The UN since 1991 has monitored a cease-fire between Morocco and the Polisario Front - Western Sahara's liberation movement - and leads ongoing negotiations over the status of the territory.

Location

Northern Africa, bordering the North Atlantic Ocean and the Mediterranean Sea, between Algeria and Western Sahara

Natural Resources

phosphates, iron ore, manganese, lead, zinc, fish, salt

Population - distribution

the highest population density is found along the Atlantic and Mediterranean coasts; a number of densely populated agglomerations are found scattered through the Atlas Mountains

31627428
Arabic (official), Berber languages (Tamazight (official), Tachelhit, Tarifit), French (often the language of business, government, and diplomacy)
Casablanca 3.515 million; RABAT (capital) 1.967 million; Fes 1.172 million; Marrakech 1.134 million; Tangier 982,000 (2015)
Conventional long form
Kingdom of Morocco
Conventional short form
Morocco
Local long form
Al Mamlakah al Maghribiyah
Local short form
Al Maghrib
parliamentary constitutional monarchy
Name
Rabat
Geographic coordinates
34 01 N, 6 49 W
Time difference
UTC 0 (5 hours ahead of Washington, DC, during Standard Time)
Daylight saving time
+1 hr, begins last Sunday in March; ends last Sunday in October
has not submitted an ICJ jurisdiction declaration; non-party state to the ICCt
Morocco has capitalized on its proximity to Europe and relatively low labor costs to work towards building a diverse, open, market-oriented economy. Key sectors of the economy include agriculture, tourism, aerospace, automotive, phosphates, textiles, apparel, and subcomponents. Morocco has increased investment in its port, transportation, and industrial infrastructure to position itself as a center and broker for business throughout Africa. Industrial development strategies and infrastructure improvements - most visibly illustrated by a new port and free trade zone near Tangier - are improving Morocco's competitiveness.
Inflation
1.635%
External debt stocks
US$ 42,988,614,000
Total tax rate (% of commercial profits)
49.3%
Real Interest Rate
-1.949%
Manufacturing, value added (% of GDP)
18.261%
Current Account Balance
US$ -4,531,144,636
Labor Force, Total
12,606,198
Employment in Agriculture
37.20%
Employment in Industry
17.70%
Employment in Services
44.90%
Unemployment Rate
9.98%
Imports of goods and services
US$ 45,727,988,376
Exports of goods and services
US$ 35,205,790,701
Total Merchandise Trade
63.38%
FDI, net inflows
US$ 2,318,278,900
Commercial Service Exports
US$ 14,681,864,336
barley, wheat, citrus fruits, grapes, vegetables, olives; livestock; wine
automotive parts, phosphate mining and processing, aerospace, food processing, leather goods, textiles, construction, energy, tourism
Commodities
clothing and textiles, automobiles, electric components, inorganic chemicals, transistors, crude minerals, fertilizers (including phosphates), petroleum products, citrus fruits, vegetables, fish
Partners
Spain 22.1%, France 19.7%, India 4.9%, US 4.3%, Italy 4.3% (2015)
Commodities
crude petroleum, textile fabric, telecommunications equipment, wheat, gas and electricity, transistors, plastics
Partners
Spain 13.9%, France 12.4%, China 8.5%, US 6.5%, Germany 5.8%, Italy 5.5%, Russia 4.4%, Turkey 4.3% (2015)
Country Risk Rating
A4
A somewhat shaky political and economic outlook and a relatively volatile business environment can affect corporate payment behavior. Corporate default probability is still acceptable on average.
Business Climate Rating
A4
The business environment is acceptable. Corporate financial information is sometimes neither readily available nor sufficiently reliable. Debt collection is not always efficient and the institutional framework has shortcomings. Intercompany transactions may thus run into appreciable difficulties in the acceptable but occasionally unstable environments rated A4.
  • A favorable geographic position, close to the European market
  • Strategy to move upscale and diversify production in automotive, aeronautics, electronics, offshoring, chemicals, pharmaceuticals, textiles/leather, and agri-food
  • Macroeconomic stability policy
  • Political stability and commitment to reforms
  • Economy very dependent on performances in the agricultural sector
  • Significant social and regional disparities
  • The poverty rate remains high even though it is falling
  • Weakness in productivity and competitiveness
  • High unemployment rate

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