Morocco

Morocco, a North African country on the Atlantic and Mediterranean coasts, is distinguished by its Berber, Arab and European influences. The medina in Marrakech, a medieval maze-like district, is a lively place, with its Jemaa el-Fna square and souks (markets) selling ceramics, jewelry and metal lanterns. The Kasbah des Oudayas in Rabat, the capital, is a 12th-century royal fort overlooking the ocean.

General presentation

Official name: Kingdom of Morocco
Form of government: Constitutional Monarchy
Area: 446,500 km2
Capital: Rabat
Main cities: Casablanca, Fez, Tangier, Meknes, Marrakech, Salé,
Agadir
Official languages: Arabic, Tamazight

National holiday: July 30

Population: 36.3 million inhabitants
Density: 79 inhabitants/km2
Population growth: 1.3% Literacy rate: 73.8
Source: Ministry of Europe and Foreign Affairs

Economic situation

Morocco has returned to economic growth since the early 2000s, but it remains correlated to the agricultural sector and global conditions. After a slowdown in growth since 2018 (3.1% and 2.5% in 2019 compared to 4.2% in 2017), Morocco entered its largest recession in 25 years in 2020, at -7.2% (source: IMF). Faced with the health and economic crisis of Covid-19, Morocco quickly implemented strong measures to support businesses and the population, financed by a special Pandemic Management Fund, the amount of which reached more than €3bn. On the occasion of the Throne Day on July 29, 2020, the King announced an ambitious recovery plan (11% GDP) and structural reforms in the economy, social protection and public services.
The country is working to make the Moroccan economy more resilient to agricultural fluctuations. In this sense, important reforms have been undertaken as part of a sectoral diversification strategy. The stakes are high, as the agricultural sector accounts for 14% of GDP and employs 39% of the working population. Cereal yields were severely affected by recurrent droughts in 2020 (agricultural GDP down 8.1%). The reform plan has been accompanied by efforts to redress the fiscal and external accounts. However, the emergency measures decided in response to the crisis and the decline in revenues will increase the imbalance in the public accounts in 2020 (doubling of the public deficit to -7.7 percent of GDP and an increase of 11.3 percentage points in public debt to 76.5 percent of GDP).
Source: Ministry of Europe and Foreign Affairs

Bilateral Relations

Bilateral investment treaties

Work in process

Double taxation agreements

Work in process

Free trade agreements

Work in process

Leading sector for Swiss companies

Work in process

Indicators

 201620172018 E2019 E
GDP (in billions of USD) 103.35 e109.33 e118.18122.46
GDP per capita (USD)2.997 e3.137 e3.3553.441
Growth rate1.1%4.1%3.2%3.2%
Unemployment rate1.6%0.8%2.4%1.4%
Inflation rate
Public debt (% of GDP)64.85865.13264.41263.819
Budget balance (% of GDP)-4.36-3.92-5.05-5.48
Current account balance (% of GDP)-4.2-3.6 e-4.3-4.5

(Sources FMI, Banque Mondiale)

Main customers

Spain (22%), France (13.3%), Brazil (4.6%)
Source: IMF

Main suppliers

Spain (13.5%), France (13.3%), China (7.6%)
Source: IMF

Swiss exports to

Work in process

Exports of …. to Switzerland

Work in process

Swiss direct investment in

Work in process

The business climate

Work in process