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Morocco, the 2nd largest exporter of services in Africa

In 2018, exports of goods and services from African economies are expected to continue growing, rising by 10.4% and 13.7% respectively. In 2017, Morocco was the second largest exporter of services and the first in terms of connectivity to the shipping line network in Africa.

In 2018, world merchandise exports are expected to grow by 10.4 percent to $ 19.6 Trillion, according to the “Handbook of Statistics 2018” published by the United Nations Conference on Trade and Development (UNCTAD).

Recall that the four main global exporters are China, the United States of America, Germany and Japan, with growth rates of between 6 and 9%.

The report points to a recovery in world trade, which has been most evident in exports. Exports of African goods contributed to this, having increased over the last year twice as fast (+ 16.4%) as imports (+ 7.6%).

Among developing African economies, Morocco is the 5th largest importer with a value of imports of $ 45 billion in 2017, representing a share of 0.25% of total world imports. On the other hand, the Kingdom is not among the top five African exporters of goods.

It should be noted that South Africa remains the largest importer and exporter of goods among African countries.

For their part, global services exports are expected to grow 9.5% in 2018 after rising 7.8% in 2017, it is expected.

In 2017, Africa’s services exports grew by 13.7%, slightly faster than imports, which increased by 10.4%.

Morocco is ranked 2nd exporter after Egypt, with $ 17 Billion, or 0.32% share of total world service exports.

The Kingdom is followed by South Africa, Ghana and Nigeria with respective shares of 0.29%, 0.12% and 0.09%.

Note that the current account balance of the Moroccan balance of payments is deficit of $ 4 Billion, or 3.5% of GDP.

In addition, international seaborne trade expanded in 2017 as volumes increased by 4%. This is the fastest growth of the past five years.

In Africa, Morocco still leads the ranking in 2017 in terms of connectivity and international shipping. It is followed by Egypt and then South Africa.

Globally, the country with the most connected economy in the global network of shipping lines, as measured by UNCTAD’s maritime connectivity index, was China.

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