فاس نيوز ميديا جريدة الكترونية جهوية تعنى بشؤون و أخبار جهة فاس مكناس – متجددة على مدار الساعة
A recent report issued by the United Nations Conference on Trade and Development (UNCTAD) revealed that Morocco ranks second as the largest exporter of services in Africa, with an average of $16.2 billion annually.
The report affirms that Africa has enormous potential to redefine the model of global trade and economic growth, but many of its economies remain vulnerable to external shocks. It highlights targeted reforms and investments that can make African economies more resilient.
According to UNCTAD figures, Morocco, described as a land of challenges and opportunities, ranks second among economies exporting services in Africa, with an average export value of $16.2 billion annually between 2019 and 2021. Egypt surpasses the Kingdom with $20.6 billion annually, followed by South Africa in third place with an average of $11.2 billion.
The report indicates that Morocco, as one of the largest exporters of services in Africa, is establishing itself as an important player in regional trade, but still suffers from a lack of infrastructure and trade barriers. UNCTAD believes that strong regulation and the diversity of the national economy make the country one of the most resilient on the continent, but strategic reforms are needed to stimulate growth further.
The report explains that “the pandemic exposed the fragility of economies that depend on services, including Morocco, Egypt, South Africa, and Tunisia, as global disruptions severely affected tourism, transportation, and other service industries.”
Infrastructure is also one of the main factors in trade efficiency. The report ranks Morocco among the best-performing African countries in the field of trade logistics, but notes that non-tariff barriers still hinder trade within Africa. Regulatory obstacles and trade rules not related to tariffs limit regional trade three times more than customs duties, which negatively affects African markets.
Despite these challenges, Morocco has one of the most supportive regulatory environments on the continent. UNCTAD commends “Morocco, Botswana, Cabo Verde, Mauritius, and South Africa” for “demonstrating greater resilience to trade risks due to economic diversification, political stability, and connectivity.”
The report also describes various aspects in which Morocco and other African economies can take steps to improve their resilience by boosting their growth, such as removing or at least mitigating constraints related to the lack of export diversification or the limited support provided to SMEs.
The African Continental Free Trade Area (AfCFTA) also represents one of the important opportunities for economic expansion, which is estimated to be worth about $3.4 trillion.
The report believes that trade agreements and investment treaties in Morocco reflect a long-term commitment to strengthening economic ties within Africa. The Kingdom’s economic strength also lies in its ability to adapt to global and regional challenges.
The report concludes by saying: “Even if the country faces risks related to connectivity and economic dependence, its investments in infrastructure, trade reforms, and regional cooperation could make it a leader in the economic transformation of Africa.”
