lephone: [212] (7) 76 22 65
FAX: [212] (7) 76 56 61
consulate(s) general: Casablanca

Flag description: red with a green pentacle (five-pointed, linear
star) known as Solomon's seal in the center of the flag; green is the
traditional color of Islam

Economy

Economy - overview: Morocco faces the typical problems of developing
countries - restraining government spending, reducing constraints on
private activity and foreign trade, and keeping inflation within
manageable bounds. Since the early 1980s the government has pursued an
economic program toward these objectives with the support of the IMF,
the World Bank, and the Paris Club of creditors. The dirham is now
fully convertible for current account transactions; reforms of the
financial sector have been implemented; and 43 state enterprises have
been privatized. Drought conditions in three of the last four years
have depressed activity in the key agricultural sector, holding down
exports and contributing to a 7.5% contraction in real GDP in 1995.
Favorable rainfall in 1996 nurtured a record wheat crop and
contributed to the 9% overall growth. Servicing the large external
debt, preparing the economy for freer trade with the European Union,
and finding jobs for Morocco's youthful population remain long-term
problems.

GDP: purchasing power parity - $97.6 billion (1996 est.)

GDP - real growth rate: 9% (1996 est.)

GDP - per capita: purchasing power parity - $3,260 (1996 est.)

GDP - composition by sector:
agriculture: 21%
industry: 30%
services: 49% (1994)

Inflation rate - consumer price index: 5% (1996 est.)

Labor force:
total: 7.4 million
by occupation: agriculture 50%, services 26%, industry 15%, other 9%
(1985)

Unemployment rate: 20% (1995 est.)

Budget:
revenues: $10.4 billion
expenditures: $10.75 billion, including capital expenditures of $NA
(1996 est.)

Industries: phosphate rock mining and processing, food processing,
leather goods, textiles, construction, tourism

Industrial production growth rate: 4.5% (1996 est.)

Electricity - capacity: 3.79 million kW (1994)

Electricity - production: 10.17 billion kWh (1994)

Electricity - consumption per capita: 385 kWh (1995 est.)

Agriculture - products: barley, wheat, citrus, wine, vegetables,
olives; livestock

Exports:
total value: $7.7 billion (f.o.b., 1996 est.)
commodities : food and beverages 30%, semiprocessed goods 23%,
consumer goods 21%, phosphates 17% (1995 est.)
partners :