Business, Trade and Commerce in Morocco
The main industries in Morocco are phosphate rock mining and processing, food processing, leather goods, textiles, selling of arts and crafts, construction and tourism.
Importing and Exporting
Morocco’s main trade is importing and exporting. Although there are local arts and crafts found on every corner of the street, most of the locally produced arts and crafts are being exported to neighboring countries. However the quality of the arts and crafts has worsened over the centuries and has been corrupted by modern techniques and chemical dyes. Morocco’s principal legal exports are clothing, fish (notably sardines), phosphates, fruit and vegetables. Cannabis though illegal, is also an important export.
Ferrying
There is also a lucrative business in ferrying would-be immigrants across the Straits to Spain, with money made in these ways being invested in apartments and other speculative ventures.
Oil
Morocco has an extensive infrastructure to support active oil and gas exploration and a vibrant production industry. Major seaports, roadways, airports, pipelines and refineries are near large cities endowed with the usual European and North American style amenities. The downstream oil-industry of Morocco is well developed. The country has two oil refineries with a total refining capacity of 150,000 barrels per day.
Phosphate
The strongest point of Moroccan industry is phosphate mining. Morocco houses approximately 2/3 of the world’s phosphate reserves, putting it in a higher league than major competitors China, Russia, and the United States. Although it employs only 2% of the population, phosphate mining is responsible for half of the nation’s income.
In a nutshell the main industries in Morocco are phosphate rock mining and processing, food processing, leather goods, textiles, selling of arts and crafts, construction, and tourism. Morocco’s main trading partners are France and Spain. Inflation stands at around four percent and unemployment at around nineteen percent.