Imports, Exports, and Jobs
Morocco is the 5th strongest nation in economics in Africa behind Egypt, Nigeria, Algeria, and South Africa. Its main source of income is the mining industry, being one of the most powerful phosphate trading countries in the world. However, on yearly basis, the country imports and exports more of a variety of items. Some of them include imports of petroleum, textile fabrics, wheat, gas and electricity, and plastics. Exports consist of clothing and textiles, electric components, inorganic chemicals, fertilizer, petroleum products, citrus fruits, vegetables, and fish.
Jobs in the country are centered on the mining, agriculture, and tourism industry. As Morocco largest source of income, mining dominates the charts in jobs. Moreover, the area is also rich in minerals, adding to the availability. Tourism lately has also made it up in recent years. This is due to the rugged and unique landscape that exists within the country, attracting tourist from all over the world. Lastly, agriculture is the final piece of the puzzle. In recent years, the Moroccan government has been trying to diversify its economics. Hence, it encourages farming and many other agricultural activities, which eventually resulted in the modern day boost in trades in fruits and vegetable.
Weak Or Strong Economy?
Well, from what the CIA states, Morocco thus far had made tremendous improvements. It had indeed diversified its economy in the years and is slowly paying off its debt which totals to $71 billion. Nonetheless, it isn’t quite at the level the government is aiming for. There are still many untapped resources and too much unemployment. However, it is expected to improve, as the country will eventually be trading partners with the European Trade Union and the United States, which is expected to be in effect in 2010.