acks, initiatives to relax capital controls, strengthen the
banking sector, and privatize state enterprises went forward in 1993.
Servicing the large debt, high unemployment, and vulnerability to
external economic forces remain long-term problems for Morocco.
National product:
GDP - purchasing power equivalent - $70.3 billion (1993 est.)
National product real growth rate:
2% (1993 est.)
National product per capita:
$2,500 (1993 est.)
Inflation rate (consumer prices):
4.5% (1993 est.)
Unemployment rate:
16% (1992 est.)
Budget:
revenues:
$7.5 billion
expenditures:
$7.7 billion, including capital expenditures of $1.9 billion (1992
est.)
Exports:
$5.7 billion (f.o.b., 1992)
commodities:
food and beverages 30%, semiprocessed goods 23%, consumer goods 21%,
phosphates 17%
partners:
EC 64%, India 6%, Japan 4%, US 3%
Imports:
$8.4 billion (c.i.f., 1992)
commodities:
capital goods 24%, semiprocessed goods 22%, raw materials 16%, fuel
and lubricants 16%, food and beverages 13%, consumer goods 9%
partners:
EC 63%, US 6%, Saudi Arabia 4%, FSU 4%, Japan 1%
External debt:
$21.3 billion (1992)
Industrial production:
growth rate 0.1% (year NA); accounts for 31% of GDP (1991)
Electricity:
capacity:
2,384,000 kW
production:
8.864 billion kWh
consumption per capita:
317 kWh (1992)
Industries:
phosphate rock mining and processing, food processing, leather goods,
textiles, construction, tourism
Agriculture:
accounts for 14% of GDP, 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
Illicit drugs:
illicit producer of hashish; trafficking on the increase for both
domestic and international drug markets; shipments of hashish mostly
directed to Western Europe; occasional transit point for cocaine from
South America destined for Western Europe.
Economic aid:
recipient:
US commitments, including Ex-Im (FY70-89), $1.3 billion; US
commitments, including Ex-Im (1992), $123.6 million; Western (non-US)
countries, ODA and OOF bilateral commitments (1970-89), $7.5 billion;
OPEC bilateral aid (1979-89), $4.8 billion; Communist countries
(1970-89), $2.5 billion
note:
$2.8 billion debt canceled by Saudi Arabia (1991); IMF standby
agreement worth $13 million; World Bank, $450 million (1991)
Currency:
1 Moroccan dirham (DH)