Casablanca – A new report from the Observatory of Economic Complexity (OEC) reveals that Morocco’s export value reached approximately $46.7 billion in 2022, placing the country 63rd among the world’s exporters. This represents a notable increase of $15.3 billion over the past five years, up from $31.4 billion in 2017.

The Spanish International Trade Centre provided data showing that Morocco’s exports are primarily industrial products. The leading categories include mixed mineral or chemical fertilizers valued at $7.06 billion, automobiles at $6.1 billion, insulated wires at $4.21 billion, phosphoric acid at $2.29 billion, and calcium phosphate at $1.81 billion.

The report highlights that these exports are mainly directed towards European and Asian markets. Spain emerges as the top importer of Moroccan goods, purchasing $8.55 billion worth of products, followed by France at $7.95 billion, India at $2.99 billion, Italy at $2.2 billion, and Brazil at $1.96 billion.

In addition to the growth in export value, the OEC report emphasizes Morocco’s significant progress in the economic complexity index for 2022. This index evaluates the diversity and sophistication of a country’s economy, particularly its reliance on high value-added products and services. In 2022, Morocco was ranked 80th out of 122 countries. The country also showed a strong performance in the technology index, where it ranked 57th out of 96 countries. However, Morocco’s position in the research index was less favorable, placing 119th out of 135. These rankings indicate that while Morocco is advancing in research capabilities and innovation, there is still room for improvement.

The report also outlines several challenges that Morocco faces on its path to a more complex economy. Key obstacles include a lack of investment in research and development, inadequate digital infrastructure necessary to support e-commerce and integrate technology across various sectors, and a shortage of specialized skills. Addressing these issues will require substantial investment in education and vocational training to develop a skilled workforce suited to modern industries.

Despite these challenges, the report identifies numerous opportunities for Morocco to enhance its economic complexity. The country’s strategic geographic location and abundant natural resources, such as phosphate, provide a strong foundation for expanding its processing industries and boosting trade with both African and European countries. Additionally, Morocco’s young workforce is a significant asset for promoting economic and social development.

While Morocco has made considerable strides in increasing its export value and improving its economic complexity, ongoing efforts to enhance infrastructure and education will be crucial to sustain and further this growth.