Morocco’s Top 10 Exports

A country located on Africa’s northwestern coast, the Kingdom of Morocco shipped US$25.6 billion worth of goods around the globe in 2017. That dollar amount results from a 16.6% gain since 2013 and a 12% uptick from 2016 to 2017.

Based on estimates from the Central Intelligence Agency’s World Factbook, Morocco’s exported goods plus services represent 35.7% of total Moroccan economic output or Gross Domestic Product. Please note that the overall value of exported goods and services includes a sizable share of re-exports. The analysis below focuses on exported products only.

From a continental perspective, over two-thirds (68.3%) of Moroccan exports by value were delivered to European countries while 12.5% were sold to importers in Asia. Morocco shipped smaller percentages to other African nations (8.8%), North America (5.1%) and Latin America excluding Mexico and the Caribbean (3.8%).

Given Morocco’s population of 34 million people, its total $25.6 billion in 2017 exports translates to roughly $750 for every resident in that country.

Per Trading Economics, Morocco’s unemployment rate was 10.2% at December 2017 up from 9.3% as of June 2017.

Morocco’s Top 10 Exports

Top 10

The following export product groups represent the highest dollar value in Moroccan global shipments during 2017. Also shown is the percentage share each export category represents in terms of overall exports from Morocco.

At the more detailed four-digit Harmonized Tariff System (HTS) code level, Morocco’s most valuable export products are cars, insulated wire or cable, mineral or chemical fertilizers and women’s clothing.

  1. Electrical machinery, equipment: US$4.2 billion (16.5% of total exports)
  2. Vehicles: $3.4 billion (13.3%)
  3. Fertilizers: $2.6 billion (10.1%)
  4. Clothing, accessories (not knit or crochet): $2.4 billion (9.4%)
  5. Fish: $1.3 billion (5.1%)
  6. Inorganic chemicals: $1.1 billion (4.4%)
  7. Vegetables: $1.1 billion (4.4%)
  8. Salt, sulphur, stone, cement: $1.1 billion (4.2%)
  9. Fruits, nuts: $917.1 million (3.6%)
  10. Knit or crochet clothing, accessories: $779.2 million (3%)

Morocco’s top 10 exports accounted for three-quarters (74%) of the overall value of its global shipments.

Vegetables was the fastest-growing among the top Moroccan export categories up by 24.5% from 2016 to 2017, led by tomatoes, fresh or chilled leguminous vegetables and potatoes.

In second place for improving export sales was fruits and nuts which appreciated by 23.5%.

Moroccan fertilizers posted the third-fastest gain in value up by 21.1%.

The sole decliner among the top 10 Moroccan export categories was inorganic chemicals down by -2.2%.

Advantages

The following types of Moroccan product shipments represent positive net exports or a trade balance surplus. Investopedia defines net exports as the value of a country’s total exports minus the value of its total imports.

In a nutshell, net exports is the amount by which foreign spending on a home country’s goods or services exceeds or lags the home country’s spending on foreign goods or services.

  1. Fertilizers: US$2.3 billion (Up by 20.8% since 2016)
  2. Clothing, accessories (not knit or crochet): $2.2 billion (Up by 6.7%)
  3. Fish: $1.1 billion (Up by 7.4%)
  4. Vegetables: $966 million (Up by 22.9%)
  5. Fruits, nuts: $704.1 million (Up by 21.5%)
  6. Meat/seafood preparations: $682.8 million (Up by 6.4%)
  7. Knit or crochet clothing, accessories: $580.6 million (Down by -3%)
  8. Salt, sulphur, stone, cement: $499.5 million (Up by 14.1%)
  9. Inorganic chemicals: $385.4 million (Down by -34.4%)
  10. Ores, slag, ash: $351.5 million (Up by 46.8%)

Morocco has highly positive net exports in the international trade of fertilizers. In turn, these cashflows indicate Morocco’s strong competitive advantages under the fertilizers product category.

Opportunities

Overall Morocco incurred a -$19.5 billion product trade deficit for 2017, up by 3.4% from -$18.8 billion in red ink during 2016.

Below are exports from Morocco that result in negative net exports or product trade balance deficits. These negative net exports reveal product categories where foreign spending on home country Morocco’s goods trail Moroccan importer spending on foreign products.

  1. Mineral fuels including oil: -US$6.9 billion (Up by 29.4% since 2016)
  2. Machinery including computers: -$4.4 billion (Up by 2.6%)
  3. Plastics, plastic articles: -$1.7 billion (Up by 12.4%)
  4. Cereals: -$1.4 billion (Down by -26.2%)
  5. Vehicles: -$1.2 billion (Down by -11.2%)
  6. Iron, steel: -$1.1 billion (Down by -4.3%)
  7. Articles of iron or steel: -$728.3 million (Down by -30.2%)
  8. Manmade staple fibers: -$702.7 million (Up by 8.0%)
  9. Miscellaneous manufactured articles: -$669.5 million (Up by 77.7%)
  10. Paper, paper items: -$593.5 million (Up by 3.9%)

Morocco has highly negative net exports and therefore deep international trade deficits under the mineral fuels including oil category especially for refined petroleum oils, petroleum gas and coal.

Companies

Moroccan Export Companies

Three Moroccan regional banks rank among Forbes Global 2000, namely:

  • Attijariwafa Bank
  • Banque Centrale Populaire
  • BMCE Bank

Wikipedia lists some exports-related companies headquartered in Morocco. Selected examples are shown below:

  • Akwa Group (oil, gas)
  • Compagnie Marocaine de Navigation (shipping)
  • Laraki (automobiles)
  • Les Domaines Agricoles (agribusiness)
  • Med Airlines (cargo airliner)
  • Nareva (oil, gas)
  • Office Chérifien des Phosphates (phosphate)
  • Société Automobiles Ménara (automobiles)
  • Somaca (automobiles)
  • Sonasid (steel)









 
Morocco’s capital city is Rabat.

Please note that the results listed above are at the 2-digit Harmonized Tariff System code level.

See also South Sudan’s Top 10 Exports, Somalia’s Top 10 Exports and Top African Export Countries

Research Sources:
FlagPictures.org, Flag of Morocco. Accessed on April 22, 2018

Forbes 2016 Global 2000 rankings, The World’s Biggest Public Companies. Accessed on April 22, 2018

International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on April 22, 2018

International Trade Centre, Trade Map. Accessed on April 22, 2018

Investopedia, Net Exports Definition. Accessed on April 22, 2018

The World Factbook, Africa: Morocco. Accessed on April 22, 2018

Wikipedia, Morocco. Accessed on April 22, 2018

Wikipedia, List of Companies of Morocco. Accessed on April 22, 2018

World’s Capital Cities, Capital Facts for Rabat, Morocco. Accessed on April 22, 2018