AGS Movers Casablanca – About Morocco

Overview of Morocco

The vast desert sands of the Sahara, the cool blue ocean and the majestic Atlas Mountains are just some of Morocco’s many unspoilt charms. Morocco is home to over 31 million people, the majority of which are Arab-Berber. Hundreds of mosques, palaces and other historical sites, such as the ancient city of Asilah and the Grottoes of Hercules, lend old-world charm to this age-old country.

The Economy

Economic policies implemented since 2003 have resulted in the stabilising of Morocco’s economy. The National Initiative for Human Development (INDH) was launched in 2005 and has seen improvements in social welfare, living conditions and the tourism and agricultural sectors. Morocco has undergone vast economic improvements, although illiteracy and urban youth unemployment still pose a challenge. Morocco’s economy relies primarily on phosphate exports, agriculture and tourism. The mining and manufacturing sectors account for one third of the country’s annual GDP. Morocco is one of the world's largest producers of phosphates (one of Morocco’s three primary exports). Price fluctuations of phosphates on the global market directly impact upon Morocco's economy. In 2006, Morocco entered into a Free Trade Agreement (FTA) with the US, and in 2008, the European Union concluded an Association Agreement with Morocco. Several sectors (such as phosphate production, rail transport, postal services and airport services) remain under public monopoly and are managed directly by public institutions. A number of sectors (such as water and electricity distribution, construction and operation of motorways and the management of non-hazardous waste), formerly run by government, are now open to private domestic and foreign investment.

Morocco faces numerous challenges: improved education, job creation, corruption, closing of the gap between rich and poor, as well as the growth and diversification of exports other than phosphates and low-value added products. However, in spite of these obstacles, the future looks bright. Morocco’s GDP grew by 5.1% in 2009 and the unemployment rate decreased.