MARKET ACCESS SECRETARIAT Global Analysis Report Market...

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M ARKET A CCESS S ECRETARIAT Global Analysis Report Market Overview Morocco April 2017 Executive summary The Kingdom of Morocco is located in the northwest corner of Africa, and at its closest point, it is less than 15 kilometres away from Spain. With a population of 35.0 million people, Morocco was the 10th largest economy in the Middle East and North Africa (MENA) region, in 2016. Morocco is considered a developing country by international standards. Morocco had a gross domestic product (GDP) of US$104.1 billion in 2016, this is expected to grow by 5.3% in 2017. Morocco is forecast to see some sustained economic progress over the short to medium term with a 5.7% compound annual growth rate by 2020 and beyond, according to Euromonitor. This growth is largely stimulated by domestic demand, and Morocco is on track to see continued improvements in its economic performance due to a combination of government policy measures to enhance the business climate, focused expansion of middle class and improvements in competitiveness. According to Euromonitor, Moroccan consumers have a significantly lower level of discretionary spending compared to the global average, although it is slightly higher than some of their regional counterparts. Consumer expenditure will see healthy growth through to 2030, creating more opportunities for providers of agri-food and seafood products; especially with the strongest spending expected to be in hotels and catering services, on the back of rising tourist arrivals and the growing trend for dining out among affluent Moroccans. CONTENTS Executive summary ........................ 1 Production ...................................... 2 Trade .............................................. 3 Consumer foodservice ................... 5 Retail sales ..................................... 6 For more information ...................... 8 Resources ...................................... 8 Related Reports Morocco at glance Consumer profile: Morocco Business environment: Morocco Pet food in Morocco
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