nd unemployment and to
improve the living conditions of the country's urban slums. Moroccan
authorities are implementing reform efforts to open the economy to
international investors. Despite structural adjustment programs
supported by the IMF, the World Bank, and the Paris Club, the dirham
is only fully convertible for current account transactions. In 2000,
Morocco entered an Association Agreement with the EU and, in 2006,
entered a Free Trade Agreement (FTA) with the US. Long-term
challenges include improving education and job prospects for
Morocco's youth, and closing the income gap between the rich and the
poor, which the government hopes to achieve by increasing tourist
arrivals and boosting competitiveness in textiles.

GDP (purchasing power parity):

$125 billion (2007 est.)

GDP (official exchange rate):

$73.43 billion (2007 est.)

GDP - real growth rate:

2.2% (2007 est.)

GDP - per capita (PPP):

$3,700 (2007 est.)

GDP - composition by sector:

agriculture: 13.8%
industry: 38.4%
services: 47.8% (2007 est.)

Labor force:

11.39 million (2007 est.)

Labor force - by occupation:

agriculture: 40%
industry: 15%
services: 45% (2003 est.)

Unemployment rate:

9.8% (2007 est.)

Population below poverty line:

15% (2007 est.)

Household income or consumption by percentage share:

lowest 10%: 2.6%
highest 10%: 30.9% (1999)

Distribution of family income - Gini index:

40 (2005 est.)

Investment (gross fixed):

29.7% of GDP (2007 est.)

Budget:

revenues: $20.49 billion
expenditures: $21.85 billion (2007 est.)

Fiscal year:

calendar year

Public debt:

67.4% of GDP (2007 est.)

Inflation rate (consumer prices):

2% (2007 est.)

Central bank discount rate:

3.25% (31 December 2007)

Commercial bank prime lending rate:

NA (31 December 2007)

Stock of money:

$67.42 billion (31 December 2007)

Stock of quasi money:

$16.23 billion (31 December 2007)

Stock of domestic credit:

$71.9 billion (31 December 2007)

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:

5% (2007 est.)

Electricity - production:

21.88 billion kWh (2006 est.)

Electricity - consumption:

19.58 billion kWh (2006 est.)

Electri