Imports : The top imports of Morocco are Refined Petroleum ($4.53B), Cars ($2.24B), Petroleum Gas ($1.5B), Vehicle Parts ($1.23B), and Coal Briquettes ($1.19B), importing mostly from Spain ($9.45B), France ($5.05B), China ($4.13B), United States ($3.62B), and Italy ($2.52B).
The US’s biggest exports to Morocco include petroleum, aerospace and automotive parts, and food products; and the US imports primarily fertilizer, electric machinery, and certain agricultural products from the country.
Oil products accounted for the largest share of imports, followed by automobile, gas, cable and wires, tractors, transportation and travel. According to Reuters, at the beginning of 2019, automotive sector sales represented 27.6% of Moroccan exports.
The major resources of the Moroccan economy are agriculture, phosphate minerals, and tourism. Sales of fish and seafood are important as well. Industry and mining contribute about one-third of the annual GDP.
Morocco is an ideal backpacker’s destination. Not only is it the perfect destination for hikes, culture, and history lovers, it’s also very cheap to travel and live here. Morocco can be super cheap but if luxury travel is more your thing, the country also offers the most luxurious and lavish lifestyle money can afford.
Here are a few of the things that Morocco is famous for. Lots of Beaches and Deserts. It Is Really Hot. Camel rides and Sand Dunes. Delicious Cuisine – Mediterranean Food, Tajines, Warm Spices, Coffee, Tea. THAT Movie – Casablanca . THAT Song – Marrakesh Express by Crosby, Stills, and Nash.
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.
Morocco’s economic freedom score is 63.3, making its economy the 78th freest in the 2020 Index. Its overall score has increased by 0.4 point, reflecting an improved score for property rights.
The most important crops cultivated for domestic consumption are cereals ( wheat , barley , maize, rice and sorghum), although pulses such as broad bean , peas, chickpeas and lentils, are also important. Much of the farming is still done by manual labour.
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).
Geographical divides play a major role in Morocco’s poverty; of the 4 million people living in poverty in Morocco , 3 million reside in rural areas. Nearly 19 percent of Morocco’s population lives on less than $4 a day. Three factors impede Morocco’s development: illiteracy, financial inequality and economic volatility.
Wealthiest People in Morocco Othman Benjelloun . $2.4 Billion. King Mohammed VI of Morocco . $2.1 Billion. Aziz Akhannouch . $1.7 Billion. Miloud Chaabi. $1.3 Billion. Anas Sefrioui. $1.1 Billion. King Hassan II. $1 Billion.
Forbes, an American business magazine, released its 2020 fact sheet on Africa’s richest people on January 17. Only eight of Africa’s 54 countries are home to billionaires . Egypt and South Africa lead the pack with five billionaires each, followed by Nigeria with four and Morocco with two.