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Morocco Snapshot - PESTLE, SWOT, Risk and Macroeconomic Analysis report is designed to provide in-depth information about Morocco including it’s PESTLE (political, economic, social, technological, legal and environmental), SWOT (Strengths, Weaknesses, Opportunities and Threats) and country risk analysis backed by macroeconomic data.
Morocco, officially the Kingdom of Morocco, is a country in the Maghreb region of North Africa. It is one of only three nations, along with Spain and France, to have both Atlantic and Mediterranean coastlines. Geographically, Morocco is characterized by a rugged mountainous interior and large portions of desert. It is the only African country with coastal exposure to both the Atlantic Ocean and the Mediterranean Sea.
Morocco had population of 36.67 million in the year 2021 and expected to reach 38.381 million by 2027, growing at a CAGR of 0.93%.
Morocco’s real gross domestic product (GDP) was MAD 943.429 billion in 2020 and while recovering from the COVID-19 impact it increased by 6.70% to be around MAD 1011.22 billion in 2021. It is further expected to increase by 3.04% and reach MAD 1210.15 billion by 2027.
Morocco’s unemployment rate was 12.2% of total labor force in 2020. It is expected to decrease at a CAGR of 3.34% and reach 9.62% by 2027.
Morocco’s per capita GDP was USD 8,497.37 whereas purchasing power parity (PPP) based per capita GDP was USD 11,451.65 for the year 2021.
In 2021, Morocco government’s revenue was MAD 310.527 billion whereas the expenditure was MAD 386.825 billion. This resulted in Morocco government’s net lending / borrowing negative at MAD 76.298 billion in 2021 indicating that not enough financial resources were made available by the Morocco government to boost economic growth.
The current account balance for Morocco was negative at USD 3.819 billion for the year 2021 and is expected to decrease at a CAGR of 5.98% and reach negative USD 4.41 billion by 2027. This negative current account balance indicates that Morocco will remain a net borrower from the rest of the world till 2027.
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