government
shares in the state telecommunications company and in the largest
state-owned bank. Favorable rainfall over the past two years has
boosted agricultural output and GDP growth passed 4% in 2004. In
2005 the budget deficit is expected to rise sharply - from 1.9% of
GDP in 2004 - because of substantial increases in wages and oil
subsidies. Long-term challenges include preparing the economy for
freer trade with the US and European Union, improving education and
job prospects for Morocco's youth, and raising living standards.
GDP (purchasing power parity):
$134.6 billion (2004 est.)
GDP - real growth rate:
4.4% (2004 est.)
GDP - per capita:
purchasing power parity - $4,200 (2004 est.)
GDP - composition by sector:
agriculture: 21.2%
industry: 35.8%
services: 43% (2004 est.)
Labor force:
11.02 million (2004 est.)
Labor force - by occupation:
agriculture 40%, industry 15%, services 45% (2003 est.)
Unemployment rate:
12.1% (2004 est.)
Population below poverty line:
19% (1999 est.)
Household income or consumption by percentage share:
lowest 10%: 2.6%
highest 10%: 30.9% (1998-99)
Distribution of family income - Gini index:
39.5 (1998-99)
Inflation rate (consumer prices):
2.1% (2004 est.)
Investment (gross fixed):
22.4% of GDP (2004 est.)
Budget:
revenues: $12.86 billion
expenditures: $15.4 billion, including capital expenditures of $2.19
billion (2004 est.)
Public debt:
70.2% of GDP (2004 est.)
Agriculture - products:
barley, wheat, citrus, wine, vegetables, olives; livestock
Industries:
phosphate rock mining and processing, food processing, leather
goods, textiles, construction, tourism
Industrial production growth rate:
NA
Electricity - production:
13.91 billion kWh (2002)
Electricity - production by source:
fossil fuel: 95.4%
hydro: 4.6%
nuclear: 0%
other: 0% (2001)
Electricity - consumption:
14.24 billion kWh (2002)
Electricity - exports:
0 kWh (2002)
Electricity - imports:
1.3 billion kWh (2002)
Oil - production:
1,000 bbl/day (2004 est.)
Oil - consumption:
167,000 bbl/day (2001 est.)
Oil - exports:
NA
Oil - imports:
NA
Oil - proved reserves:
300 million bbl (2004 est.)
Natural gas - production:
50 million cu m (2001 est.)
Natural gas - consumption:
50 million cu m (2001 est.)
Natural gas - exports:
0 cu m (2001 est.)
Nat
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