page_title: Morocco
section_title: Economy
hierarchical_section_title: Morocco / Economy
context_page_description: Morocco, officially the Kingdom of Morocco, is a country located in the Maghreb region of North Africa. It overlooks the Mediterranean Sea to the north and the Atlantic Ocean to the west, with land borders with Algeria to the east and Western Sahara to the south. Morocco also claims the exclaves of Ceuta, Melilla and Peñón de Vélez de la Gomera, all of them under Spanish jurisdiction, as well as several small Spanish-controlled islands off its coast. The capital is Rabat and the largest city is Casablanca. Morocco spans an area of 710,850 km² and has a population of over 36 million.
  Since the foundation of the first Moroccan state by Idris I in 788 AD, the country has been ruled by a series of independent dynasties, reaching its zenith under Almoravid and Almohad rule, when it spanned parts of Iberia and northwestern Africa. The Portuguese Empire began in Morocco in the 15th century, following Portuguese conquests along the Moroccan coast, founding settlements which lasted into the 17th and 18th centuries. The Marinid and Saadi dynasties resisted foreign domination into the 17th century, allowing Morocco to remain the only northwest African country to avoid Ottoman occupation.
context_section_description: Morocco's economy is considered a relatively liberal economy governed by the law of supply and demand. Since 1993, the country has followed a policy of privatisation of certain economic sectors which used to be in the hands of the government. Morocco has become a major player in African economic affairs, and is the 5th African economy by GDP (PPP). Morocco was ranked as the first African country by the Economist Intelligence Unit's quality-of-life index, ahead of South Africa. However, in the years since that first-place ranking was given, Morocco has slipped into fourth place behind Egypt.
  Government reforms and steady yearly growth in the region of 4–5% from 2000 to 2007, including 4.9% year-on-year growth in 2003–2007 helped the Moroccan economy to become much more robust compared to a few years earlier. For 2012 the World Bank forecast a rate of 4% growth for Morocco and 4.2% for following year, 2013.
  The services sector accounts for just over half of GDP and industry, made up of mining, construction and manufacturing, is an additional quarter. The industries that recorded the highest growth are tourism, telecoms, information technology, and textile.
caption: Map of Morocco's exports as of 2017