How to move from economic relief towards a sustainable recovery?
B3
SENSITIVE RISK for enterprise
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Economic risk
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Business environment risk
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Political risk
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Commercial risk
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Financing risk
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Economic risk
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Business environment risk
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Political risk
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Commercial risk
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Financing risk
Updated in August 2021.
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GDP | USD112.87bn (World Ranking 59, World Bank 2020) |
Population | 36.91mn (World Ranking 40, World Bank 2020) |
Form of state | Constitutional Monarchy |
Head of government | Aziz Akhannouch (Prime Minister) |
Next elections | September 2026, Legislative |

- King Mohammed VI remains generally popular and rule by the monarchy is an acceptable form of governance for the majority of the population.
- Sound commercial and diplomatic relations with the U.S. and the EU.
- Geographic proximity to a very large potential market (Europe) for international investors and traders.
- Although external debt stock has increased in recent years, debt servicing obligations remain manageable.

- Poor corporate payment behavior: Days of Sales Outstanding was 84 days in 2018 (one of the longest in the world) and insolvencies are increasing as a result.
- Wide gap between rural and urban standards of living.
- Poverty and unemployment remain high and are a principal cause of social discontent and provide a potential breeding ground for religious militancy.
- Weak record in relation to abuses of human rights and to press freedom.
Trade structure by destination/origin
(% of total, 2020)
Exports | Rank | Imports |
---|---|---|
Spain
24.5%
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1 |
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France
20.4%
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2 |
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United States
4.8%
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3 |
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Italy
4.3%
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4 |
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India
3.6%
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5 |
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Trade structure by product
(% of total, 2020)
Exports | Rank | Imports |
---|---|---|
Electrical machinery, apparatus and appliances, n.e.s.
17.1%
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1 |
11.4%
Petroleum, petroleum products and related materials
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Articles of apparel & clothing accessories
13.9%
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2 |
9.9%
Road vehicles
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Road vehicles
11.8%
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3 |
7.5%
Electrical machinery, apparatus and appliances, n.e.s.
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Vegetables and fruits
10.7%
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4 |
6.1%
Textile yarn and related products
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Fertilizers other than group 272
10.4%
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5 |
3.7%
Other industrial machinery and parts
|
The average DSO in Morocco remains high at 83 days on average in 2016 and the payment behaviour of domestic companies is rather poor.
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Low
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Medium
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Sensitive
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High
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Payments
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Court proceedings
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Insolvency proceedings
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Payments
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Court proceedings
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Insolvency proceedings
The judiciary is a multi-layered system which remains under influence and is critcized for its lack of organisation, efficiency and transparency. Therefore, commencing legal action would be unreasonable in most cases whilst enforcement judgments would be difficult. In all circumstances, entrusting collection specialists with a strong knowledge of the local market remains the wiser approach. Various insolvency proceedings are available in Morocco but these remain complex, slow and mostly inefficient when it comes to collecting debt. |
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