Data Collection 1 – Morocco

Data Collection – Morocco

GDP (Gross Domestic Product): GDP is a very important indicator when measuring and analysing the development in a country. The data presented for this indicator is a sum of the total expenditures for all good and services in a given period of time.

Screen Shot 2015-05-20 at 5.49.28 PM

Looking at a time span of 20 years, it is seen the there is an increasing trend in Morocco’s GDP. Starting from 34 billion U.S dollars in 1996, the GDP increased all the way to 104.37 billion U.S dollars in 2013 (Trading Economics 2014). This great increase in only two decades illustrates the economic development in the country. Although there are some slight decreases in some years, they are not great downfalls; therefore, taking them into consideration is not necessary. It is noteworthy to point out that until 2008, Morocco’s GDP had been growing a very high rate; however, the global economic crisis put an end to it. Although until 2011 the value did not change too much, it is important to note that Moroccans dealt with it well and the GDP growth is resumed.

Composition by Sector:

gdp-composition-breakdown

 

Morocco_GDP_Sector

 

This indicator shows the distribution of Morocco’s GDP into three sectors: services, industry and agriculture. As presented in both displays, services account for more than half – 55.8% – of the country’s GDP. Industry also accounts for a large portion of GDP: 29.6%. Lastly, Morocco’s GDP depends least on agriculture. In graph 2, it seen that in 1980, as opposed to today, Morocco used to be less dependent on services and a little bit more dependent on agriculture. Over the years, the dependency switch is seen between the two: Services increasing from 51 to 55.6% and Agriculture decreasing from 19 to 14.6% and even 11% in 2000 (IEU). The dependency range for industry has not changed much; over the past 35 years, the percentage has only ranged between 29 and 31%.

Population:

Screen Shot 2015-05-20 at 5.49.56 PM

Since 1995, Morocco’s population has been increasing at a steady rate, having reached 33.3 million people in 2014 (Trading Economics 2014). Statistics regarding population are necessary for assessing many factors of development, unemployment rate for example. As this indicator is in a rate form rather than number of unemployed people, the figures presented take into account the population as well. The increase in population will be beneficial for Morocco’s economy. Although over the years a large portion of the total population has been a youthful population, this will benefit Morocco’s economy in the coming years: as this population grows, they will fit in the economically active population.

Unemployment Rate: This indicator is the measure calculated with the number of people actively looking for a job as a percentage of the labor force.

Screen Shot 2015-05-20 at 5.50.36 PM

As seen in the data above, the unemployment rate in 2013 was 9.9%. This value is fairly high. As explained earlier for the population indicator, the youthful population affects this indicator too. As the youthful population is a large portion of the total population, the unemployed youths increase the unemployment percentage.

Inflation Rate: Inflation rate is the measure of general prices for goods rising, and therefore the purchasing power falling. Central Banks undoubtedly try to stop too much inflation, but at the same time want to prevent deflation. Inflation can be caused by a country printing more money than is justified by the countries wealth. This will result in the value of the currency to decrease.

Screen Shot 2015-05-20 at 5.51.02 PM

As seen in the graph above, the inflation rate during the past 6 years has fluctuated greatly. The rate ranged all the way from -1.8 to 5.1% and now is reaching an ideal rate of 1.7%. According to investopedia, most countries’ central banks will try to keep their inflation rate between 2-3%. During 2008 and 2010, due to the global economic crisis, Morocco’s inflation rate dropped to -1.8%. The general price was much lower than usual; thus, affected expenditure immensely.

Government Debt to GDP:Screen Shot 2015-05-21 at 12.05.05 AM

This indicator is the percentage of total GDP owed. The ratio for Morocco is relatively high as opposed to developing and developed countries. Although the numbers have been decreasing, they are still relatively high. Also, after 2010, the ratio increased once again to 61.70%.

 

Categories: Economics

Leave a Reply

Skip to toolbar