The growth rate of the Moroccan economy reached an average of 5.1% during the last decade, following the increased growth of the primary sector (4.3%), the stable growth of the non-agricultural sector (4.9%) and the average growth of 5.2% as average in the service sector, mainly because of the increased contribution from telecommunications (13%), and services aimed at companies (6.8%), and linked to the openness policy and the development of the off shoring.

At a sectoral level, agriculture represents between 12% and 17% of GDP (depending on the year), and employs 45% of the total workforce. The secondary sector, accounts for 30% of GDP, and focuses on mining and phosphate processing (Morocco has the world’s largest phosphate deposits at 75 % of world reserves), textiles and food processing. The sector of services accounts for 38% of GDP, 8% of which dedicated to tourism. At the domestic level, Morocco has made of human development a national priority. Thanks to this approach the GDP per person has increased by 70% in real terms, since 2000. Diversifying the economy is a government priority as set out in the 2014-2020 Industrial Acceleration Strategy which promotes the creation of “industrial clusters” in key industries, including mining, renewable energy, automotive, aerospace, cabling, textiles and pharmaceuticals. This strategy is expected to generate half a million jobs and increase the share of industry in GDP by 9%, from the current 14% to 23% of GDP.

Recent Projects launched in Morocco

The Inauguration of the first High Speed Train in the African Continent connecting between Tangier and Casablanca. This structuring project is the outcome of an important economic and political collaboration between the Northern Shore of the Mediterranean and its Southern Shore.

In the automotive sector, Morocco has become an auto-hub and set the target of producing 1million vehicles by 2025. Morocco is, nowadays, the first car producer in Africa and the Middle East region.

In fact, Morocco has shown its ability to put technology at the service of its development with the launching of the 2nd Moroccan observation Satellite by Ariane Space.

Tangier is making its way to become an economic hub city thanks to its port. The Tangier Med Port has tripled its capacity and become the 17th in the world ranking for connectivity. Tangier Med Port connects the country to 185 ports and 80 countries, becoming the first port in the Mediterranean.  It will benefit regional and continental economic integration dynamics such as the African Continental Free Trade Area.

One of the world's largest solar power stations, located near Ouarzazate is, in fact, only one part of the global strategy to make of Morocco the future Green Hub of the Continent. The choice to make of the Kingdom a renewable champion has never been dictated by the urgencies of the moment. Indeed, sustainable growth is one of the cornerstones of the development model adopted by Morocco. Under the leadership of HM the King, Morocco has firmly embarked on the path of responsibility to face climate challenges.