Gross National Product (GNP): $34.7bn

Exchange rates against the US$ over the last year: 9.455 Moroccan dirhams (10.645)

SCORE CARD

World GNP ranking: 57th GNP per capita: $1190 Balance of payments: $1.49bn Inflation: 2.8% Unemployment: 23%

Strengths

Probusiness policies and abundant labor attract foreign investment. Low inflation. Great potential for tourist industry (already important), phosphates, and agriculture.

Weaknesses

High unemployment and population growth. Droughts have hit agriculture. Cannabis production (providing Europe's main source of resin) complicates closer EU links.

Profile

The government's large-scale privatization program, which began in 1992, was designed to attract investment, particularly from Europe. Severe drought in 1995 made austerity measures necessary. Socialist-led governments have given social policy a higher priority. Expected revenue from oil reserves will be channeled into the development of rural areas.

EXPORTS

IMPORTS

ECONOMIC PERFORMANCE INDICATOR

From "The Financial Times World Desk Reference" © Dorling Kindersley 2004