In 2020, Morocco ranked 53rd of 190 countries. These economic complexity rankings use 6 digit exports classified according to the HS96 classification. Among the top 50, Malaysia's Economic rank would move up by six positions, while Hong Kong and Pakistan would lose three places. Morocco performs most strongly in Market Access & Infrastructure and Enterprise Conditions but is weakest in Social Capital. Morocco At-A-Glance . During the last 20 years Morocco's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨81st to the 89th⁩ position in the ECI rank. Morocco - Morocco - Economy: As is true in many former African colonies, the Moroccan economy remains heavily dependent on the export of raw materials. Real GDP growth is projected to rebound to 4.5% in 2021 as the economy recovers from a severe contraction and agriculture thrives. The country managed to improve its performance by implementing multiple financing options. Morocco's economy . The index measures the amount of human capital that a child born today can expect to attain by age 18, given the risks of poor health and poor education that prevail in the country where she lives. Among the top 50, Only ten economies will experience a change in ranking; five economies will move up and … In the 21st century Morocco's economy has continuously grown. 2) The rank that you see is the CIA reported rank, which may have the following issues: a) They assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank. The kingdom is increasing its presence in the sub-Saharan Africa to boost its economy and international standing. Morocco Religion, Economy and Politics. The combination of a pandemic with an agricultural shock pushed the Moroccan economy into a deep recession in 2020. The Gross Domestic Product (GDP) in Morocco was worth 118.73 billion US dollars in 2019, according to official data from the World Bank and projections from Trading Economics. Rankings of Morocco best banks and safest banks are also available. Also of growing importance to the economy are modern sectors, particularly tourism and telecommunications. These countries/regions could appear in this list as having a small GDP. Morocco has the fifth largest economy of Africa. Since 2010, Morocco has moved up the rankings table by 4 places. Morocco is 96th in the overall Prosperity Index rankings. purchasing power parity - $134.6 billion (2004 est.) Geographically, Morocco is characterized by rugged mountainous interior, large tracts of desert, and a lengthy coastline along the Atlantic Ocean and Mediterranean Sea. Program. Access the latest politics analysis and economic growth summary through 2011 for Morocco from The Economist Intelligence Unit The reform program emphasized the creation of private and rural businesses, easing the state regulations on prices, and investment in workforce education and industrial output. See Also. Other changes in the top 20 would be Italy overtaking Mexico and Poland overtaking Egypt. Morocco's market economy benefits from the country's relatively low labor costs and proximity to Europe, which aid key areas of the economy such as agriculture, light manufacturing, tourism, and remittances. All suggestions for corrections of any errors about Morocco Economy 2020 should be addressed to the CIA or the source cited on each page. In the ppp ranking, There would be no change in the top 10 list. GDP by Year Chart GDP Rank Chart . The GDP value of Morocco represents 0.10 percent of the world economy. Outlook and risks. Some countries may have citizens that are on average wealthy. PILLAR RANKINGS. The COVID-19 outbreak’s socio-economic impact prompted the government’s announcement of a comprehensive recovery plan, as per the King’s guidance and priorities formulated in the Throne Day speech. The last Article IV Executive Board Consultation was on December 18, 2020. Morocco’s economy is the freest in North Africa, according to a 2019 ranking. The Literacy rate in Morocco is 72% Morocco. Morocco signs landmark agreement to strengthen its tax treaties Today, Morocco signed the BEPS MLI, becoming the 89th jurisdiction to join the Convention, which now covers almost 1,530 bilateral tax treaties. Travel restrictions and border closures have strongly affected tourism revenues (22% of total exports). Find out how your country compares to the rest of the world. Morocco is also the world's largest exporter of phosphate, which has long provided a source of export earnings and economic stability. Between 1995 and 2012, knowledge economy index of Morocco was declining at a moderating … The drop in tourism (12% of GDP and employment) has also impacted the Moroccan economy. Overview. Home > Morocco > Economy > GDP. Rank 7 Country India Result 2,719; Rank 8 Country Italy Result 2,084; Rank 9 Country Brazil Result 1,869; Rank 10 Country Canada Result 1,713; Rank 11 Country Russia Result 1,658; Rank 12 Country South Korea Result 1,619; Rank 13 Country Australia Result 1,434; Rank MOROCCO – The World Bank has released its latest report on Africa’s strongest economies, ranking Morocco as the continent’s 5 th strongest economy after Nigeria, South Africa, Egypt, and Algeria.. Morocco - Economy . Morocco and IMF. Related Article: Public Holidays in Morocco; Facts about education in Morocco. With an average GDP growth rate of 4 - 5 percent the economy clearly performed better than in 1990s (WB 2012). page d'accueil MAP, agence marocaine de presse proposant l'info marocaine et du monde en vidéo, photo, multimédia et infographie, actualité économique, politique, culturelle et sportive en direct, dossiers d'actualités à la une Another driving force behind the growth of China’s economy is worker efficiency. b) The CIA … Real GDP growth will resume in 2021, after an estimated contraction of 7% in 2020. The Moroccan economy has so far maintained good access to external financing, with large multilateral disbursements, two successful sovereign bond issuances in international markets (€1 billion in September 2020 and US$3 billion in December), and relatively stable net FDI flows. Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about Morocco economic outlook, debt to GDP ratio, international trade performance and population trends. Nearly 99% of Moroccans are Sunni Muslims, primarily of Arab-Berber, Arabized Berber, Berber and Niger-Congo ethnic background. Such fluctuations may change a country's ranking from one year to the next, even though they often make little or no difference to the standard of living of its population. Altogether, the modern portion accounts for more than two-thirds of gross domestic product (GDP), even though it employs only … The 2020 CPI report highlights the impact of corruption on government responses to COVID-19. Morocco, with a population of 36,471,769 people, it is ranked at 39º position by population of 196 countries and it has a moderate population density, 82 people per km2. Growth will average 3.1% in 2022-25, underpinned by stronger trade and tourism, but the economy will remain exposed to swings in agricultural output. Morocco, is a country located at Northern Africa, it has an area of 446,550 Km2. Morocco has capitalized on its proximity to Europe and relatively low labor costs to work towards building a diverse, open, market-oriented economy. China’s economic reform program of 1978 was a large success and resulted in the rise in average economic growth from 6% to over 9%. It's capital is Rabat and its currency is Moroccan dirhamsMorocco is holding the 60 position by nominal GDP. Visualize global trade data and economic growth opportunities for every country Accounting (4) International Business law (1) Corporate Communication (2) Corporate Finance (4) Entrepreneurship (2) Sustainable Development and Environmental Management (1) General Management (2) Human Resources Management (3) International Management (4) Information Systems Management (1) Marketing (3) Public … The second wave (October 2020) has led to an extension of the mobility crisis, which will continue to weigh on tourism in the first half of 2021. Currency : Moroccan Dirham (MAD) = 100 Centimes: Rate of exchange (Sept.2004) : 1 Euro = 11 MAD: GDP (Gross Domestic Product), 2002 : 37.1 billion dollars: GDP per capita, 2002 : 1203 dollars: GNP (Gross National Product), 2005 : 52.27 billion dollars: GNP per capita, 2005 : 1694 dollars: Morocco - Miscellaneous information. Data. The biggest improvement compared to a decade ago came in Enterprise Conditions. King Mohammed VI remains the ultimate arbiter of power, but the political spectrum is increasingly polarised. In 2012, knowledge economy index for Morocco was 3.61 index. According to the recent edition of the Economic Freedom Index, Morocco’s economy is the freest in North Africa. Casablanca - Morocco, represented by the High Commission for Planning (HCP), by reference to the levels of quality and disaggregating data published in its central data dissemination platform was ranked 1st in Africa and 40th globally among 178 countries assessed according to the Open Data Inventory (ODIN) index in 2020/2021. Entrepreneurship > Hiring and Firing > Index ranking: Every economy has established a complex system of laws and institutions intended to protect the interests of workers and to guarantee a minimum standard of living for its population. Over the past decade, Morocco improved by more than 50 places its position in the World Bank’s Doing Business ranking. 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