Country Overview
Morocco, the sixth-largest economy in Africa and the third-largest in Northern Africa by GDP in 2023 has a population exceeding 37 million. The economy has achieved an annual growth rate of 4.4% over the past five years, driven by tourism, phosphate-based fertiliser production, and automotive exports. Morocco is the world's second-largest phosphate producer, and its car manufacturing sector, primarily targeting European markets, has become a key growth driver. Despite these strengths, Morocco faces notable risks, including regional tensions over the Western Sahara dispute and strained relations with Algeria. High energy import dependency also exposes the country to oil market shocks, though recent solar and wind energy investments should mitigate this exposure. In 2025, Morocco’s focus on renewable energy, climate actions, expanding electric vehicle production, export diversification, and structural reforms is expected to bolster its economic resilience. However, inflationary pressures and the lingering risk of droughts remain concerns given agriculture's role
