Country profile
Morocco
Africa's largest car exporter and a nearshore base for Europe, also a leading supplier of phosphates and fertilisers.
Updated 11 November 2026. Sources at the bottom of the page.
- Capital
- Rabat
- Population
- 38.1 million (2026)
- Currency
- Moroccan dirham (MAD)
- GDP, 2026
- US$196 billion
- Exchange rate
- 1 USD = 9.77 MAD (11 Nov 2026)
Economy
IMF World Economic Outlook, October 2026. 2026 and 2027 are IMF projections.
4.5%Real GDP growth, 2026
4.2%Real GDP growth, 2027
0.9%Inflation, 2026
12.2%Unemployment, 2026
66.6% of GDPGovernment debt, 2026
-4.9% of GDPCurrent account, 2026
Compare Morocco with other countries →
Trade
Top export markets
Share of the country’s exports, 2025
- Spain (22.1%)
- France (19.5%)
- Germany (5.6%)
- India (5.5%)
- Italy (4%)
Main exports
Product groups, share of exports
- Electrical equipment, mainly wiring harnesses (20.2%)
- Vehicles and parts (18.2%)
- Fertilisers (17.3%)
- Clothing (6.8%)
- Inorganic chemicals, mainly phosphoric acid (4.3%)
Main trade agreements
- EU–Morocco Association Agreement
- US–Morocco Free Trade Agreement
- UK–Morocco Association Agreement
- Agadir Agreement (Egypt, Jordan, Tunisia)
- African Continental Free Trade Area (AfCFTA)
Trade policy to watch
- Car industry: Renault and Stellantis plants and hundreds of suppliers cluster around Tangier and Kenitra.
- EU CBAM: Moroccan fertiliser exports to the EU need emissions reporting, and the EU importer must buy CBAM certificates.
- Tanger Med: one of the largest container ports in the Mediterranean, 14 km from Spain.
Energy
Morocco imports most of its energy. Coal is the largest source of electricity, and wind and solar are growing fast.
What it means for your supply chain
- Morocco is a nearshore option for wiring harnesses, auto parts, aerospace parts and clothing for Europe.
- Short transit to Spain makes Morocco attractive for fast replenishment.
- Fertiliser buyers in the EU need CBAM emissions data from Moroccan suppliers.
Sources
- IMF, World Economic Outlook, October 2026: GDP, growth, inflation, unemployment, government debt, current account (2026 and 2027 are projections; updated automatically).
- IMF, World Economic Outlook database: population (2026 estimate).
- Trading Economics, based on UN Comtrade data: export markets and main exports; shares calculated from the listed values.
- Rates by Exchange Rate API (open access rates; updated daily).
- Energy Institute, Statistical Review of World Energy 2026: energy profile.
Figures are the latest published at the time of the update and may since have been revised. This page is for general information, not investment or legal advice.