Economy

The Ministry of Tourism and the Handcraft House signed two partnership agreements with Moroccan carrier Royal Air Maroc (RAM) and UPS Morocco, on Wednesday in Rabat, to support the competitiveness of the crafts sector. The primary goal of these agreements is to provide advantageous rates for international shipping of Moroccan handicraft items to…

Morocco’s core inflation fell to 4.3% on an annual basis in October, down from 4.9% in September and 5% in August, according to Morocco’s Statistics and Forecasts Office (HCP). In October 2023, the Consumer Price Index (CPI) decreased by 0.1% compared to the previous month. This change resulted from a 0.4% decline in the index for food products…

The European Bank for Reconstruction and Development (EBRD) will channel €100 million in credit lines for young entrepreneurs in Morocco through the local launch of its Youth in Business program., announced EBRD on Monday. Over five years, six eligible partner financial institutions (PFIs) for on-lending to youth-led micro, small-and-medium-sized…

Morocco’s Cherifien Office of Phosphates reported decreased sales as of the end of September 2023, bringing in revenues of only 61.035 Bln MAD compared to 89.538 Bln MAD Y-O-Y last year. This decrease of 28% is due to a decrease in OCPs prices across all product categories compared to the extraordinarily high prices it charged in 2022, according to…

Despite the deadly earthquake that rocked the red city in early September, tourist bed-nights in Marrakech increased by 61% over 2022, and by 27% in the month of October alone, according to Morocco’s Ministry of Tourism in a statement following an article on tourism in Marrakech published on Friday. In October, the key outgoing markets for…

Morocco imported more than 256,000 tons of soft wheat last month according to the National Federation of Grain Merchants. The Federation revealed that these quantities of soft wheat were imported from France, Romania, Lithuania, Poland, and Russia, as part of an effort to recover from a wheat supply deficit which began in September. The goal is…

Morocco’s import of dried prunes through the first eight months of 2023 increased spectacularly in jumping from 250 tons in 2022—valued at nearly one million dollars--to 1,700 tons in 2023, worth more than 5 million USD. At the same time exports of the same product decreased from 2,000 tons in 2016 to less than 200 tons in 2023, according to East…

A report from El Economista highlights Morocco's significant position in the competition for natural gas transportation to Europe, particularly with respect to the Morocco-Nigeria Gas Pipeline (NMPG). The report emphasizes the strategic advantage of an underwater route amid regional uncertainties, thus holding a propensity to strategically…

Morocco is one of the top five countries that is reaping the benefit of global trade disruptions resulting from the COVID-19 pandemic and the reshuffling of supply chains due to US-China tensions, reported US business news outlet “Bloomberg.” Along with Poland, Vietnam, Mexico, and Indonesia, Morocco has experienced increased economic activity…

The unemployment rate has increased from 11.4% to 13.5% between Q3 of 2022 and Q3 of 2023, as the number of unemployed individuals reached 1,625,000. This translates to a one-year increase of 18%, according to Morocco’s Statistics and Forecasts Office (HCP). Upon further analysis, the report showed an uptick in the jobless rate from 15% to 17% in…