São Paulo – Domestic demand should contribute to the growth of Morocco next year, according to the High Commissioner for Planning (HCP), an economic study institute of the Arab country. According to figures disclosed by the organisation, disclosed on the government site, the domestic demand should grow 5.4% in 2013, against the expansion of 3.1% forecasted for this year.
The movement should mainly be motivated by the consolidation of family consumption. Exports, in turn, should drop more in 2013 than in 2012, 2% against the 1.1% forecasted for this year. Investment will be dynamic, according to projections.
The Gross Domestic Product (GDP) of Morocco should grow 4.3% in 2013, with a significant contribution of the primary sector, whose activities should grow 5.8% over 2012. For agriculture, growth is expected to reach 4.1% next year, as against 4.3% this year.
The primary sector includes agriculture, livestock, extractivism, hunting, fishing and mining. The good performance in agriculture should also be boosted by the improvement in the secondary sector, which includes industry and civil construction. For the area, growth of 4.9% is expected in activities, as against 4.4% scheduled for 2012.
Morocco has a GDP of around US$ 100 billion, half of which comes from the service sector. Industry is the second most important sector and agriculture the third. The country produces phosphates, foods, leather and clothes, but a significant share of its economy is boosted by tourism. Morocco is in North Africa and has a coastline of beautiful beaches.
*Translated by Mark Ament
