Economy
In 2023, Morocco experienced a notable 20.4% decrease in energy product imports, totaling MAD 122 billion, as reported by the Office des Changes. The decline was primarily driven by reduced imports of diesel and fuel oil, which made up the majority of the decrease. The country's foreign trade report......
Morocco is witnessing a significant boost in its economic landscape, fueled by a remarkable increase in foreign direct investment (FDI). Recent data from the Exchange Office under the Ministry of Economy and Finance highlights this upward trajectory. In the first half of the fiscal year, net FDI inflows......
In the first half of 2024, Morocco’s aeronautical sector experienced a significant surge in exports, surpassing MAD 12.97 billion ($1.3 billion), marking a 16.5% increase from the previous year, according to the Office of Foreign Exchange. This remarkable growth is largely attributed to a substantial......
The fishing industry at Tan-Tan's port has encountered significant challenges, with the quantity of pelagic fish landings plummeting by a staggering 63% in the first half of the year, amounting to a mere 7,351 tonnes. By the Numbers: A Grim Report The National Office of Fisheries (ONP) released......
Morocco Emerges as a Key Market for American Agricultural Products The United States has witnessed a substantial surge in its agricultural exports to Morocco, with the total value reaching an impressive $610.17 million in 2023, as reported by the U.S. Department of Agriculture (USDA). Reflecting on......
Morocco's unemployment rate has escalated to 13.1% in the second quarter of 2024, according to the latest report from the Moroccan High Commission for Planning (HCP). This figure represents a 0.7 percentage point increase from the 12.4% recorded in the same period of 2023, highlighting a concerning......
In 2024, French buyers have discovered a treasure trove of affordable real estate opportunities in Morocco, with apartment prices starting as low as €42,000 and properties outside major cities averaging €600 per square meter. Morocco has emerged as a favored destination for French property......
In a significant move to commemorate the 25th anniversary of King Mohammed VI's reign, Bank Al-Maghrib has introduced a new 50 dirham banknote that underscores Morocco's dedication to sustainable development. This fresh currency, infused with striking illustrations, reflects the nation's......
Ambitious Project to Strengthen Morocco's Rail Connectivity and Economic Growth In a decisive move to enhance its transportation infrastructure, Morocco's National Office of Railways (ONCF) has awarded a significant contract to a consortium led by the French engineering firm Egis Rail, in partnership......
In a groundbreaking initiative aimed at bolstering international trade and economic cooperation, the Australia Morocco Business Network (AMBN) has launched in Adelaide, marking the first organization dedicated to promoting bilateral trade between Australia and Morocco. This strategic move promises to......
In an extraordinary shift, Morocco's cannabis industry has seen explosive growth following the government's decision to lift a long-standing ban. The National Agency for the Regulation of Cannabis-Related Activities (ANRAC) has reported a remarkable increase in the number of licenses issued for......
In a striking development, McDonald’s outlets in Morocco have witnessed a dramatic 35% decline in customer visits over the past eight months, according to sources cited by local media. This significant drop underscores the multifaceted challenges the fast-food chain is currently grappling with,......
CIH BANK Unveils Innovative Remote Banking Service for Moroccan Expatriates In a groundbreaking move, CIH BANK has launched CODE 212, a cutting-edge remote banking service designed to cater to the needs of Moroccans living abroad. This innovative service allows users to open and manage bank accounts......
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