The three leading exports are agricultural produce (citrus fruits and market vegetables), semiprocessed goods and consumer goods (including textiles), and phosphates and phosphate products. Major imports are semimanufactures and industrial equipment, crude oil, and food commodities.
What are Moroccan exports?
Morocco Exports. Phosphates and textiles are central to Morocco’s export industry. Other exports items include electric components, inorganic chemicals, transistors, citrus fruits, vegetables, fish. Morocco main exports partners are European Union countries with Spain, France and Italy being the most important.
What does Morocco import the most?
Imports The top imports of Morocco are Refined Petroleum ($4.56B), Cars ($2.05B), Vehicle Parts ($1.31B), Petroleum Gas ($1.28B), and Coal Briquettes ($1.1B), importing mostly from Spain ($9.28B), France ($5.42B), China ($4.47B), United States ($3.47B), and Germany ($2.57B).
What is Morocco’s main industry?
Morocco has a relatively small amount of mineral resources, phosphates being its main source of wealth. Industry contributes 25.3% of the GDP and employs 22% of the workforce. The main sectors are textiles, leather goods, food processing, oil refining and electronic assembly.
What is Morocco known for economically?
The major resources of the Moroccan economy are agriculture, phosphate minerals, and tourism. … Morocco is the world’s third-largest producer of phosphates (after the United States and China), and the price fluctuations of phosphates on the international market greatly influence Morocco’s economy.
What cars are made in Morocco?
Morocco has two major “traditional” car manufacturers: Renault and PSA.
What does US export to Morocco?
U.S. exports to Morocco are up 627% from 2005 (pre-FTA). The top export categories (2-digit HS) in 2019 were: mineral fuels ($1.2 billion), aircraft ($1.1 billion), food waste, animal feed ($181 million), machinery ($167 million), and organic chemicals ($152 million).
What countries do Morocco export to?
In 2019, Morocco major trading partner countries for exports were Spain, France, Italy, United States and Germany and for imports they were Spain, France, China, United States and Italy.
Who does Morocco trade with the most?
Trade with France
France is Morocco’s largest trading partner for both imports and exports, controlling more than 60% of foreign direct investment in Morocco.
What has Morocco contributed to the world?
Throughout the many years, many Moroccans have contributed to world history—from physicians and travel writers to engineers and even music producers.
What is Morocco famous for producing?
The country exports citrus fruits and early vegetables to the European market; its wine industry is developed, and production of commercial crops (cotton, sugarcane, sugar beets, and sunflowers) is expanding.
Does Morocco have a good economy?
Morocco’s economic freedom score is 63.3, making its economy the 81st freest in the 2021 Index. … Morocco is ranked 9th among 14 countries in the Middle East and North Africa region, and its overall score is above the regional and world averages. Morocco’s economy remained moderately free this year.
Is Morocco considered a Third World country?
Although Morroco has dramatically increased its GDP over the last few decades, Morroco is still considered a “third world” country. … The term third world was created to categorize countries that were unaligned with either the soviets or the Capitalists during the Cold war mainly in Africa and Latin America.
Is Morocco a poor country?
It is by international standards that Morocco is considered a poor country. Global Finance Magazine has ranked it as one of the poorest countries in the world. A considerable number of Moroccans are living below the poverty line.
What is considered rich in Morocco?
The report detailed wealth distribution in Morocco. Out of the 23.6 million adults in Morocco, 75.5% have a net worth of less than $10,000 (around MAD 90,000). Around 23.6% are worth between $10,000 and $100,000, and 1.3% have a net worth ranging between $100,000 and $1,000,000.
Does Morocco have oil?
Morocco produces marginal amounts of oil, natural gas, and refined petroleum products, and it is a net hydrocarbon importer. … Morocco is not a significant liquids producer, and total petroleum and other liquids production has never exceeded 5,000 barrels per day (b/d).