The most common destination for the exports of Morocco are Spain ($7.43B), France ($6.39B), Italy ($1.42B), United States ($1.38B), and Germany ($1.2B).
What does Morocco export to other countries?
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 countries does Morocco trade with?
Morocco’s main trade partners are Spain (24.1%) and France (21.6%), followed by Italy (4.7%), the United States (4%), and Germany (3.2%). Spain is also the main supplier (15.6%), ahead of France (12.2%), China (10.1%), the U.S. (7.4%) and Italy (5.4%).
What is Morocco biggest export?
- Electrical machinery, equipment: US$4.7 billion (16.9% of total exports)
- Vehicles: $3.6 billion (13.1%)
- Fertilizers: $3.4 billion (12.2%)
- Clothing, accessories (not knit or crochet): $1.9 billion (6.9%)
- Fruits, nuts: $1.5 billion (5.4%)
- Vegetables: $1.32 billion (4.7%)
- Fish: $1.26 billion (4.5%)
What does Morocco export to USA?
The major U.S. imports from Morocco include salt, sulfur, electrical equipment, fertilizers, woven apparel and agricultural products such as olive oil and processed fruits and vegetables.
Why is Morocco so rich?
Industry and mining contribute about one-third of the annual GDP. 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.
Why is Morocco poor?
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. Reduced poverty rates stem from slowed population growth, remittances from Moroccans living abroad, economic stability and nonprofit organization involvement.
Does Morocco have oil?
Oil Reserves in Morocco
Morocco holds 684,000 barrels of proven oil reserves as of 2016, ranking 97th in the world and accounting for about 0.000% of the world’s total oil reserves of 1,650,585,140,000 barrels.
Does Morocco import more than exports?
U.S. goods and services trade with Morocco totaled an estimated $6.6 billion in 2019. Exports were $4.3 billion; imports were $2.3 billion. The U.S. goods and services trade surplus with Morocco was $1.9 billion in 2019. … Services exports were $768 million; services imports were $758 million.
Is Morocco in Africa or Europe?
Morocco is a Northern African country, bordering the North Atlantic Ocean and the Mediterranean Sea, between Algeria and the annexed Western Sahara. It is one of only three nations (along with Spain and France) to have both Atlantic and Mediterranean coastlines.
How rich is the king of Morocco?
King Mohammed VI of Morocco net worth: King Mohammed VI is the current King of Morocco. He has a net worth of $2.1 billion.
Is Morocco more developed than India?
India with a GDP of $2.7T ranked the 7th largest economy in the world, while Morocco ranked 60th with $117.9B.
Gross Domestic Product & Income.
|GDP growth, 1 year||7.1%||3.1%|
|GDP growth, 5-years average||7.6%||3.1%|
|GDP per capita||$2k||$3.2k|
Is Morocco considered poor?
The living standards in Morocco is rated as low. 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 did Morocco import in 2017?
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).