Marruecos cierra 2021 con un aumento de las inversiones extranjeras

Morocco's Foreign Exchange Office has revealed in an annual report that the nation has experienced an increase in foreign direct investment (FDI) this past year. The department reports that the Kingdom has raised 16.97 billion dirhams during the first eleven months of 2021. This is a clear increase of 13.9 % compared to 2020. 

The collection of this money, according to the Office, suggests that this development is attributable to an increase in revenue of 10.2 % or, in figures, 27 billion dirhams. The latter figure reveals that the nation's revenue figure is higher than that of expenditure, which has only collected 10.3 billion dirhams over the past year.

This good result is coupled with a trade deficit that the country has suffered, according to the economic department's report. The rapid growth of imports, which increased by 24% over the course of the past year, has resulted in the country's trade deficit increasing by 26.4%, and by the end of November, the economic authorities had collected 20.3 billion dollars. On the other hand, exports have also increased by 22.5 %, especially in the phosphate and derivatives, automobile and agricultural sectors.

It is worth noting that, compared to the same report carried out in November 2019, before the COVID-19 pandemic, exports during these two years of crisis have grown by 12.2% and, similarly, imports have also grown by 5.6% compared to the end of 2019. Imports over the past year have been mainly consumer products, energy products and semi-finished products, which have been sold for between 20 and 30 billion dirhams.

This development also stems from an increase in purchases of vehicles, medicines and pharmaceuticals, the latter corresponding to the vaccination campaign launched by the Moroccan government, which has been very effective among the nation's population. 

The report has also revealed more economic data on Morocco. According to the data collected, the energy bill has risen by 49.3 % due to the increased use of diesel and fuel oil supplies, although imports of these products are considerably smaller compared to previous years. 

The good data confirm good management by the Moroccan government, which is bringing good news, economically speaking. The report also points to the record remittances that had been collected during the whole of 2021, which means a significant increase in this sector. Remittances from abroad have collected the amount of 95 billion dirhams during this last year, which means a growth of 38.9% of these remittances. The figure is significant after the coronavirus pandemic and compared to 2020, but these shipments have been progressively increasing.

Morocco is experiencing one of its best economic times, despite various problems such as poor relations with Algeria and youth unemployment, which is one of the nation's major burdens. The Kingdom currently has a GDP of $114 billion, making it the fifth largest economy in Africa and the third largest in the northern regions of the continent. 

Investment is one of its main concerns, and the focus is currently on expanding its investment policies in neighbouring countries, which, moreover, is leading to great results. 

The Alawi kingdom is closing the year with very good economic data, which is allowing it to play a leading role in the world and, moreover, it is making a name for itself among the new powers that are taking charge of the world economy. The nation is experiencing one of its best moments and everything points to the fact that everything will go upwards in the coming year.