Overview: The economy recovered moderately in 1990 because of the resolution of a trade dispute with India over phosphoric acid sales, a rebound in textile sales to the EC, and lower prices for food imports. In addition, a dramatic increase in worker remittances, increased Arab donor aid, and generous debt rescheduling agreements helped ease foreign payments pressures. On the down side, higher oil import costs fueled inflation. Servicing the $21 billion foreign debt, high unemployment, and Morocco's vulnerability to external forces remain severe problems for the 1990s.

GDP: $25.4 billion, per capita $990; real growth rate 2.5% (1990 est.)

Inflation rate (consumer prices): 6.6% (1990 est.)

Unemployment rate: 16% (1990 est.)

Budget: revenues $6.6 billion; expenditures $7.3 billion, including capital expenditures of $1.8 billion (1990 est.)

Exports: $4.0 billion (f.o.b., 1990 est.); commodities--food and beverages 30%, semiprocessed goods 23%, consumer goods 21%, phosphates 17%; partners--EC 58%, India 7%, Japan 5%, USSR 3%, US 2%

Imports: $5.9 billion (f.o.b., 1990 est.); commodities--capital goods 24%, semiprocessed goods 22%, raw materials 16%, fuel and lubricants 16%, food and beverages 13%, consumer goods 9%; partners--EC 53%, US 11%, Canada 4%, Iraq 3%, USSR 3%, Japan 2%

External debt: $21 billion (1990)

Industrial production: growth rate 4% (1989 est.); accounts for an estimated 20% of GDP

Electricity: 2,262,000 kW capacity; 8,140 million kWh produced, 320 kWh per capita (1990)

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

Agriculture: 50% of employment and 30% of export value; not self-sufficient in food; cereal farming and livestock raising predominate; barley, wheat, citrus fruit, wine, vegetables, olives; fishing catch of 491,000 metric tons in 1987

Illicit drugs: illicit producer of cannabis; trafficking on the increase for both domestic and international drug markets; shipments of cannabis mostly directed to Western Europe; occasional transit point for cocaine from South America destined for Western Europe.

Economic aid: US commitments, including Ex-Im (FY70-89), $1.3 billion; Western (non-US) countries, ODA and OOF bilateral commitments (1970-88), $7.0 billion; OPEC bilateral aid (1979-89), $4.8 billion; Communist countries (1970-89), $2.5 billion

Currency: Moroccan dirham (plural--dirhams); 1 Moroccan dirham (DH) = 100 centimes

Exchange rates: Moroccan dirhams (DH) per US$1--8.071 (January 1991), 8.242 (1990), 8.488 (1989), 8.209 (1988), 8.359 (1987), 9.104 (1986), 10.062 (1985)

Fiscal year: calendar year

NOTE: The information regarding Morocco on this page is re-published from the 1991 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Morocco Economy 1991 information contained here. All suggestions for corrections of any errors about Morocco Economy 1991 should be addressed to the CIA.