Industries: phosphate rock mining and processing, food processing, leather goods, textiles, construction, tourism
Morocco is a nation in northern-Africa, bordering the North Atlantic Ocean and the Mediterranean Sea, between Algeria and Western Sahara. It has a strategic location along Strait of Gibraltar, the narrow gateway between the Mediterranean Sea and the Atlantic Ocean opposite Spain. Morocco's northern coast and interior are mountainous (Rif Mountains and Atlas mountains) with large areas of bordering plateaus, intermontane valleys, and rich coastal plains. The south and east of the country is dominated by the Sahara Desert. There are four enclaves on its Mediterranean coast which are administered by Spain, which Morocco contests.It also claims and administers Western Sahara whose sovereignty remains unresolved.
Economy
Moroccan economic policies brought macroeconomic stability to the country in the early 1990s but have not spurred growth sufficient to reduce unemployment - nearing 20% in urban areas - despite the Moroccan Government's ongoing efforts to diversify the economy. Morocco's GDP growth rate slowed to 2.1% in 2007 as a result of a draught that severely reduced agricultural output and necessitated wheat imports at rising world prices. Continued dependence on foreign energy and Morocco's inability to develop small and medium size enterprises also contributed to the slowdown. Moroccan authorities understand that reducing poverty and providing jobs are key to domestic security and development. In 2005, Morocco launched the National Initiative for Human Development (INDH), a $2 billion social development plan to address poverty and 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
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