Marrakech continues to be the market leader, but the case of Fez, showing a 20% increase of visitors in 2004, gives hope that better organisation can bring results in diversifying the sector as a whole. It is the first phase of what is planned to eventually be a 1,500 kilometres (930 mi) high-speed rail network in Morocco. This strategy provides for creating 160,000 beds, thus bringing the national capacity to 230,000 beds. Despite the challenges, the retail sector has strong growth potential. Morocco also produces a significant amount of illicit hashish, much of which is shipped to Western Europe. Fitch Ratings affirmed Morocco's long-term local and foreign issuer default ratings of "BBB-" and "BBB", respectively, with a stable outlook. [45], Since the early 2010s a growing debate is taking place in Morocco about decriminalization of Cannabis. It represented a turnover of USD 2.7 billion in 2005, including MAD 2.17 billion in exports and 20% of energy consumption. While focusing on linking the southern provinces notably the cities of Laayoune and Dakhla to the rest of Morocco. jordan icon map vector free download svg eps png psd ai download jordan icon map svg eps png psd ai vector color free . Spain had shown particular interest in the development of the region, because its underdevelopment has fueled illegal immigration and drug trafficking across the Strait of Gibraltar.[77]. [67] That is an increase of 74% compared with the year 2005. For other quizzes, I automated the process. For this quiz, I put in all data by hand, which requires a lot of editing. At the same time, the relatively high level of public debt remains a constraining factor, particularly as heightened attractiveness to investors is a key component of Morocco's strategy of deepening its integration in the global economy. Foreign direct investment has been expanding as companies are attracted towards the favorable economic situation of the country, government support through their numerous initiatives, such as tax exemptions for the first 5 years and VAT exemptions, modern infrastructure, and a skilled workforce. The growth level of the last five years did, however, reduce urban The government is taking measures to mitigate the harmful effects of tourism on Morocco's natural resources, while increasing incentives for a growing niche of ecotourism projects. Below is an SVG map of the world. In 2005, Morocco produced 27.254 million tons of phosphates and 5.895 million tons of phosphate derivatives.[2]. Morocco's low social indicators and large infrastructure needs could justify an increase in social spending and public investment. In a 2006 poll, GAM found that 94% of its members used outdoor advertising, although 81% companied about problems, mainly caused by quality issues and delays. The 1978–80 plan was one of stabilization and retrenchment, designed to improve Morocco's balance-of payments position. With a semi-arid climate, it is difficult to assure good rainfall and Morocco's GDP varies depending on the weather. The government hopes that adding more local content to the internet will increase usage. Over the past 20 years, the government has built approximately 1770 kilometers of modern roads, connecting most major cities via toll expressways. Morocco has become an attractive destination for European investors thanks to its relocation sites "Casashore" and "Rabatshore", and to the very rapid cost escalation in Eastern Europe. On each day, there is only one train on the Marrakech-Tangier section in each direction. Textiles form a major industry in Morocco. The ceremony was attended by U.S. Secretary of State Hillary Clinton and the Moroccan king. [75] The majority (58%) were employed in the university sector. While the forecast is slightly lower than the earlier 6.8% projected growth it still remains quite an achievement considering the circumstances. In 2007 the economic environment remained conducive to further growth of banking activity in Morocco following a very good year for the sector in 2006. The World Economic Forum placed Morocco as the 1st most competitive economy in North Africa, in its African Competitiveness Report 2014-2015.[22]. These measures combined with actions carried out by the Hassan II Fund for Development increased foreign investments in Morocco by $544.7 million in 2007. [citation needed], The government has recognized this challenge and has put in place an ambitious process of legal, policy, and institutional modernization that has far-reaching political, economic, and social dimensions. High unemployment is a problem; the official figure icaca pedos. The major resources of the Moroccan economy are agriculture, phosphate minerals, and tourism. Additionally, a new train station was constructed, called Tanger-Ville. Economic growth will also be intermittently hindered by the impact of periodic droughts on the rain-fed agricultural sector, the country's largest employer. However, independent stores and markets should continue to account for most domestic trade in the foreseeable future. Morocco instituted a series of development plans to modernize the economy and increase production during the 1960s. 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. The government also made direct capital investments in the development of the service sector, but since the early 1990s it has begun to divest itself of these properties. 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 Kingdom’s fast integration into the global economy was also facilitated by numerous free trade agreements with the United States and the European Union. [68] The leading origins of goods imported into Morocco as of 2017 are also Spain and France. Besides these 'normal' compartments (that are also used on day-time trains and special night-trains) they also offer sleeper-cars with bedrooms/compartments or couchettes. In fact according to the World Bank, remittances constituted 9.5% of GDP in Morocco in 2006.[73]. The national system of scientific and technical research is guided by different elements, such as the pronouncements of the king, reports of special commissions, five-year plans, and the creation of a special programme for the support of research. Noting however that human resources remain the major concern for companies seeking to gain a foothold in Morocco. In a statement, released in July 2008, the IMF called Morocco "a pillar of development in the region" and congratulated King Mohammed VI and the Central Bank on Morocco's continued strong economic progress and effective management of monetary policy.[31]. The following routes offer night-trains: These long-distance trains operate with non-motorized passenger cars that have individual compartments. Yet over 90% of subscribers have a broadband ADSL connection, which is one of the highest ratios in the world. Although Morocco's economy grew in the early 2000s, it was not enough to significantly reduce poverty. Total assets of the banking sector increased by 21.6% to MAD 654.7 billion ($85.1 billion), which is above the previous year's high annual growth rate of 18.1%. [84] The project will involve five solar power generation sites across Morocco and will produce 2,000 megawatts of electricity by 2020. [citation needed], The mining sector is one of the pillars of Morocco's economy. Morocco has become a major player in African economic affairs, and is the 5th largest African economy by GDP (PPP). The first of its kind on the African continent, the line was inaugurated on 15 November 2018, by King Mohammed VI of Morocco following over a decade of planning and construction. Southbound: Tangier (21:05), Sidi-Kacem (1:30), Kentira (2:35), Rabat (3:15), Casablanca (4:30), Marrakech (08:05). 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 the short term, national consumption per capita is expected to rise from the current level of 0.4 tonnes of oil equivalent (toe) to as much as 0.90 toe in 2030, a good indication of development, but a massive challenge as well. The government continued liberalizing the telecommunications sector in 2002, as well as the rules for oil and gas exploration. 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. Services generated some 152,000 new jobs, with the business process outsourcing (BPO) and telecoms sector proving particularly dynamic. The most important long-distance train services are: The ONCF operates special night-trains on the long-distance main-line links. The structure of the domestic sector has remained steady in the past two years, with the landscape dominated by three major local banks. For a long time the industry has been an economic pillar for the country. As a result, perceptions of Morocco's creditworthiness have improved. The agriculture sector is being rehabilitated, which in combination with good rainfalls led to a growth of over 20% in 2009. Not included in these estimates is a large informal economy of street vendors, domestic workers, and other underemployed and poorly paid individuals. From 2018,[23] the country's currency, the dirham, is fully convertible for current account transactions; reforms of the financial sector have been implemented; and state enterprises are being privatized. This trend could continue in Q1 of 2009 with a growth rate not exceeding 2% due to a lackluster economic growth outlook and the slowdown of international trade. Added value in the sector increased by 5.6% in 2007. Authorities are promoting better water rationalisation in agriculture, which uses 80% of water resources,[51] by replacing existing irrigation systems with micro- irrigation and drip networks. Newer crops such as tea, tobacco, and soybeans have passed the experimental stage, the fertile Gharb plain being favourable for their cultivation. Total premiums reached Dh17.7 billion ($2.3 billion) in 2007, ranking Morocco as one of the largest insurance markets in the Arab world behind Saudi Arabia and the UAE. [10] Morocco is expected to close the year 2008 with a budgetary surplus ranging between MAD 3 billion and MAD3.5 billion ($348 million to $407 million),[34] despite a difficult international context marked by a severe economic crisis. Increasing public investment in ports, housing development projects, and roads as well as the boom in the tourism sector have been a big shot in the arm for the construction sector. The most promising reforms have been in the liberalization of the telecommunications sector. Morocco has a lower rate than its Maghreb neighbours—Tunisia has a rate of around 13.9%, and in Algeria it is around 12.3%—but the issue is still a pressing one, both for economic and for social reasons. Northbound: 21:00 Oujia-Casablanca Morocco also has liberalized rules for oil and gas exploration and has granted concessions for many public services in major cities. Since then the emphasis has shifted to privatizing state operations and attracting new private investment, including foreign sources. The loan was taken to fund two investment projects.[38]. This increased the need for a commercial district, Tangier City Center, which was inaugurated in 2016. It was inaugurated in 2018 by the King following over a decade of planning and construction by Moroccan national railway company ONCF. In 1998 the government created Maroc Telecom (Ittiṣālāt al-Maghrib), which provides telephone, cellular, and Internet service for the country. Solar power and nuclear energy are also part of the strategy, but development of the former has been slow and there has been minimal progress on the latter, aside from an announcement of collaboration with France in 2007. 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. Second class compartments have two couches opposite each other, each couch offering 4 places. Investment was low and the city lost its economic importance. 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. Since 1993, Morocco has followed a policy of privatization of certain economic sectors which used to be in the hands of the government. [3] The completion of dedicated high-speed trackage into Casablanca would further reduce the end-to-end travel time to 1 hour and 30 minutes. Welcome to our SVG map directory! [9] It was also featured in the James Bond film Spectre. The ambitious five-year plan for 1981–85, estimated to cost more than $18 billion, aimed at achieving a growth rate of 6.5% annually. 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. unemployment from 22% in 1999 to 18.3% in 2005, and the national rate from 13.9% in 1999 The number of Moroccan internet subscribers in 2007 amounted to 526,080, representing an increase of 31.6% compared to the previous year and a 100% increase compared to 2005. The diversification of the Economy includes a multi-disciplinary approach to the development of non-agricultural sector, including the creation of special sectorial zones in industry, tourism and services outsourcing. The influx of European countries in Morocco's FDI represents 73.5% of the global amount received in 2007. Media related to Rail transport in Morocco at Wikimedia Commons, The Moroccan railway network in 2018 (Northern half of the country’s map), "Réseau ferroviaire : le Maroc accélère ! [citation needed] According to the Moroccan economist, Brahim MANSOURI (Fiscal Policy and Economic Growth: Egypt, Morocco and Tunisia Compared, UNECA, 2008), when drought, measured as a dummy variable computed on the basis of the rate of growth of cereal yield, endangers extremely, the growth rate of real GDP would fall by 10 percent. Morocco is dependent on imported fuel and its food import requirement can rise substantially in drought years, as in 2007. 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. Although the latter region has received government attention since the 1990s because of its phosphate deposits, the northern provinces, which include the Rif Mountains, home to 6 million Moroccans, had been largely neglected. Like other regions, Fez has its Centre Regional du Tourisme (CRT), a local tourism body which coordinates the local industry and the authorities. The tender process in Morocco is becoming increasingly transparent. Since 2012, the City has made it clear that it wants to invested in automobile industry by creating Tangier Automotive city. [69], In recent years,[when?] The insurance penetration rate is 2.87% of GDP, while the insurance density is $69 per person. [1], Morocco possesses 75 percent of the world's phosphate reserves. The future of Morocco's industrial segment looks bright, particularly as new initiatives make it more globally competitive in a variety of sectors.[51]. The production of the plants reached 402’000 vehicles in 2018. [24], The youth unemployment rate is 42.8% in 2017. International economic experts recognize that Morocco's exemplary economic performance is beneficial not only to Moroccans, but also for the nearly 90 million people who live the Maghreb. Morocco has one of the best road systems on the continent. The government introduced a series of structural reforms in recent years. Foreign Direct Investments in Morocco grew to $2.57 billion in 2007 from $2.4 billion a year earlier to position the country in the fourth rank in Africa among FDI recipients, according to the United Nations Conference on Trade and Development. Also a (passenger) rail connection between Tangier and Tangier MED, the port on the Mediterranean near Tangier, will give passengers arriving by ferry a connection to the main lines. Morocco opened its doors to offshoring in July 2006, as one component of the development initiative Plan Emergence, and has so far attracted roughly half of the French-speaking call centres that have gone offshore so far and a number of the Spanish ones. In 1998, the government launched a program to develop the northern region, largely with international help. However, keeping with the global trend, FDI dropped 29% to €2.4 billion in 2008,[63] the first decline since 2004. It is situated in the Tangiers free economic zone and serves as a logistics hub for Africa and the world. United States Vector Map Outline States/Provinces Formats: AI, EPS, PDF, SVG, JPG, PNG Archive size: 3.9MB. The following table shows the main economic indicators in 1980–2017.[28]. 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. The REMINEX Corporation (Research on Mines and Exploitation) is the most prominent research performer in the private sector,[75] and is a subsidiary of Omnium Nord Africain, the largest privately owned mining group in Morocco. Northbound: Nador (19:43), Fez (1:00), Casablanca (06:15). The IT sector generated a turnover of Dh7 billion ($910,000m) in 2007, which represented an 11% increase compared to 2006. The country has to import 96% of its energy requirements and the national oil bill for the first quarter of 2008 was $1.1 billion—69% higher than for the same period in 2007. In 2007 macroeconomic growth, excluding the agricultural sector, remained quite robust, providing the background for dynamic growth in banking credits. The economic system of the country is characterized by a large opening towards the outside world. The five-year development plan for 1968–72 called for increased agriculture and irrigation. Please update this article to reflect recent events or newly available information. In addition, the number of employees should increase from 40,000 to 125,000. At the same time the board called upon the international community to support its efforts where possible. According to the Global Competitiveness Report of 2019, Morocco Ranked 32nd in the world in terms of Roads, 16th in Sea, 45th in Air and 64th in Railways. [42], In addition to smaller yields of other agricultural products.[43]. In terms of sectors, tourism has the biggest share of investment with $1.55 billion, that is 33% of the total FDIs, followed by the real estate sector and the industrial sector, with respectively $930 million and $374 million. Morocco announced plans to sell two fixed licenses in 2002. The real estate sector has also been seeing record investments. World map in equirectangular projection of craters on the Earth Impact Database by CMG Lee. The plan also includes other large-scale development projects such as upgrading regional airports to attract budget airlines, and building new train and road links. Beds and couchettes have to be reserved when tickets are brought.[9]. These agreements contributed undoubtedly in a positive way towards the emergence of export activities in the country. Morocco has very few reserves of its own and has been affected by the high oil prices of 2007 and early 2008. Morocco's economy is expected to grow by 6.5% in 2008, according to the Moroccan finance minister. * Aust-Agder, admin2 (2019) Demo SVG GeoJSON Javascript * Buskerud, admin2 (2019) Demo SVG GeoJSON Javascript * Finnmark, admin2 (2019) Demo SVG GeoJSON Javascript The plan's principal priority was to create some 900,000 new jobs and to train managers and workers in modern agricultural and industrial techniques. Last, you need to put your data in the map. Mean wages were $2.88 per man-hour in 2009. an extension of the line to Marrakesh is already being planned. In a bid to promote foreign investments, Morocco in 2007 adopted a series of measures and legal provisions to simplify procedures and secure appropriate conditions for projects launching and completing. Operated by Maroc Telecom. Rail transport in Morocco is operated by the national railway operator ONCF. Historically, the Casablanca-Rabat axis has been more prosperous and has received more government attention than the predominantly mountainous northern provinces and the Western Sahara region. A bed or couchette has fixed price, regardless of the travelling route or distance. 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 government wishes to increase 3 exports from $1.27 billion in 2001 to $3.29 billion in 2010. 2007 data indicate that 17.6% of those in the 15–24 age group are unemployed. The State High Planning Commission that Morocco's official unemployment rate dropped to 9.1% in Q2 2008, down from 9.6% in Q1. Morocco exports citrus fruits and early vegetables to the European market. This represented 10% of the total area and 23% of the arable lands of the surveyed territory and 1% of Morocco's total arable land. In June 2019, Morocco signed two agreements to obtain a loan worth $237 million from the Arab Fund for Economic and Social Development. Morocco signed in 1996 an agreement of association with the European Union which came into effect in 2000. Growth will be well below the 8–10% levels that are widely regarded as necessary to have a major impact on poverty and unemployment. Also feel free to use Search field in the header. [3] The trackage from Kenitra to Casablanca is planned to be eventually replaced by a new high-speed right of way, with construction scheduled to begin in 2020.[3]. [citation needed], Morocco faces challenges on human development outcomes despite progress over the past decade, in particular. A 2006 government report suggested that the country needed a net increase of 400,000 jobs annually for the next two decades in order to provide enough employment for its people, given the underlying demographic dynamic. This rises to around one third in urban areas—rural communities often employ the young in agriculture, including on the family farm, as soon as they leave school, contributing to relatively high youth employment rates (lower levels of official unemployment registration are also a factor).[82]. The turnaround in the fiscal performance is particularly noteworthy. The service started as a test in November 2002 before it was launched in October 2003. [49] The Kingdom is considered the largest fish market in Africa, with an estimated total catch of 1,084,638 MT in 2001. Free World SVG Map | Resources. For purchasing power parity comparisons, the U.S. Dollar is exchanged at over 8 Dirhams. Many of the processed agricultural products and consumer goods are primarily for local consumption, but Morocco exports canned fish and fruit, wine, leather goods, and textiles, as well as such traditional Moroccan handicrafts as carpets and brass, copper, silver, and wood implements. Taxes are levied on individuals, corporations, goods and services, and tobacco and petroleum products. [75] Sectors declared as priority areas were: agriculture, health fisheries, drinking water, geology, mining, energy, environment, information and telecommunications technologies, and transport.[75]. Reduced incomes due to drought caused GDP to fall by 7.6% in 1995, by 2.3% in 1997, and by 1.5% in 1999. The danger of drought is ever present and still dramatically affects the Moroccan economy, even though Moroccan decisionmakers have recently[when?] Changing consumption habits, increasing purchasing power and the growing number of tourists should boost the development of malls and luxury shopping. [46] Powerful political parties are among advocates of decriminalization, as the Istiqlal Party[47] and the Authenticity and Modernity Party. Timetable[9] for this section: 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. The high cost of imports, especially of petroleum imports, is a major problem. Use the list below to select a map you need. However, this proved unsustainable and growth scaled back sharply to just 8.2% in the Eighties and 8.9% in the Nineties. It also employs about 39,000 people with an estimated MAD 571 million in salaries (2005). The European Union is Morocco's top client as regards textile and clothing, with France importing 46% of hosiery, 28.5% of basic textile and 27.6% of ready-to-wear clothing from Morocco, managing director of the Moroccan Export Development Center underlined. Morocco's trade imbalance rose from 86 billion to 118 billion dirhams between 2006 and 2007 – a 26.6% increase bringing the total amount to 17% of GDP. Morocco may be affected, by the slowdown of international economy, stirred by the global financial crisis, and whose maximum impact on national economy could decrease the GDP growth rate by at least one point in 2009, according to the Bank Al-Maghrib[33]. Among the various free trade agreements that Morocco has ratified with its principal economic partners, are The Euro-Mediterranean free trade area agreement with the European Union with the objective of integrating the European Free Trade Association at the horizons of 2012; the Agadir Agreement, signed with Egypt, Jordan, and Tunisia, within the framework of the installation of the Greater Arab Free Trade Area; the US-Morocco Free Trade Agreement with United States which came into force on 1 January 2006, and lately[when?] After Morocco regained control over Tangier, this attention slacked off. Morocco sends a significant amount of its exports to the European Union. There have also been efforts to add more computers to schools and universities. A train will operate every 2 hours between the port and Tangier city. Moroccan expatriates' share of the FDI stood at $92 million in 2007, up from $57 million in 2006, and they touch mainly the sectors of real estate, tourism and catering, according to the report.
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