Economic growth within reach, with risks tilted to the downside

B2

MEDIUM RISK for enterprise

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

Updated in February 2023.

Swipe to view more

GDP USD132.73bn (World Ranking 58, World Bank 2021)
Population 37.35mn (World Ranking 40, World Bank 2021)
Form of state Constitutional Monarchy 
Head of government Aziz Akhannouch (Prime Minister)
Next elections September 2026, Legislative
  • King Mohammed VI remains popular and the monarchy an acceptable form of governance for the majority of the population
  • Among the most diversified economies in North Africa, with ongoing initiatives to reduce import dependence and consolidate the fiscal profile
  • In 2022, net receipts from tourism surpassed the record year of 2019 and remittances also improved to reach 8.7% of GDP
  • Widening gap between rural and urban standards of living and increasing social unrest in cities
  • Exposure to drought and/or a resurgence of the price of commodities that Morocco imports could deteriorate living standards further and impact the current account
  • Heightened diplomatic tensions with neighboring countries and the EU over increased controls on journalists and critical voices, the plan for the Western Sahara and corruption investigations involving the EU Parliament

Trade structure by destination/origin

(% of total, 2021)

Exports Rank Imports
Spain 23.2%
1
14.9% Spain
France 22.3%
2
12.7% China
India 5.3%
3
11.7% France
Brazil 4.5%
4
5.9% United States
Italy 4.5%
5
5.4% Türkiye

Trade structure by product

(% of total, 2021)

Exports Rank Imports
Electrical machinery, apparatus and appliances, n.e.s. 16.2%
1
9.0% Petroleum, petroleum products and related materials
Articles of apparel & clothing accessories 11.8%
2
8.8% Road vehicles
Road vehicles 11.4%
3
7.5% Electrical machinery, apparatus and appliances, n.e.s.
Fertilizers other than group 272 11.1%
4
6.1% Textile yarn and related products
Vegetables and fruits 10.7%
5
5.2% Cereals and cereal preparations
The Allianz Trade Collection Complexity Score provides a simple assessment of how easy it is to collect debt around the world. The 2022 edition covers 49 countries that represent nearly 90% of global GDP and 85% of global trade.
Popular Risk Reports: Americas

Popular Risk Reports: Europe

Popular Risk Reports: Asia Pacific

Popular Risk Reports: Middle East

Popular Risk Reports: Africa