Morocco has advanced one position in a recent ranking issued by a specialized international economic consulting firm and country trading classification, securing the third spot. This ranking is preceded only by South Africa in first place and Nigeria in second. According to the ranking, Morocco “has become one of the most attractive trade destinations in Africa,” achieving third place among African countries for the first time in the national trade branding ranking by Spanish company Bloom Consulting, as reported by the Moroccan site “Hespress.”
The ranking data indicated that Morocco’s improvement in trade and services has enabled it to surpass several significant African economies; notably, Egypt, which also moved up one position to fourth place, followed by Ghana in fifth.
The Moroccan High Commission for Planning stated in July that Morocco’s economy is expected to grow by 3.7% next year, following predictions of a 3% growth this year. This growth is attributed to increased public investments, improved foreign and domestic demand, and declining inflation. In June, the International Monetary Fund predicted that Morocco’s real GDP growth rate would rise to 3.5% in the coming years, thanks to ongoing structural reforms. These IMF forecasts were concluded during the Article IV consultations for 2024, where the Executive Board approved the first review of the “Resilience and Sustainability Facility” agreement with Morocco, as well as reviewed Morocco’s eligibility for the “Flexible Credit Line.”
