n morocco profile
TRANSCRIPT
Morocco Investment & Trade Analysis
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CONTENTS
Country Snapshot ............................................................................................................................................................................3
Investment Prospects & Highlights ..........................................................................................................................................4
Select Investment Highlights ..................................................................................................................................................4
Investment Prospects and Recent Macroeconomic Developments ...................................................................5
Investment Highlights ................................................................................................................................................................7
Sectoral Investment opportunities ......................................................................................................................................8
Initiatives to foster Investment & Trade ..........................................................................................................................9
Key Investment Performance ................................................................................................................................................... 10
Foreign Direct Investment Inflows & Stocks ............................................................................................................... 10
Global Competitiveness Rankings .......................................................................................................................................... 11
Global Competitiveness Index............................................................................................................................................. 11
Market & Environment Analysis ........................................................................................................................................ 12
Ease of Doing Business ........................................................................................................................................................... 13
Country International Trade Performance........................................................................................................................ 15
Imports-International Market............................................................................................................................................. 15
Exports-International Market ............................................................................................................................................. 20
Investment Environment Highlights for Indian Investors ........................................................................................ 24
Market entry options for Indian Investors ................................................................................................................... 24
Bilateral Agreements ............................................................................................................................................................... 24
Select Indian Investors............................................................................................................................................................ 25
Trade with INDIA ............................................................................................................................................................................ 26
Overall Performance Analysis ............................................................................................................................................. 26
Imports-INDIA ............................................................................................................................................................................. 27
Exports-INDIA ............................................................................................................................................................................. 32
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COUNTRY SNAPSHOT
GDP based on PPP Valuation : (US$) 1,70,758
GDP per capita : (US$) 5,291
Annual Real GDP Growth (average over 2003-2011) : 4.78665288495453
GNI per Capita : (US$) 2,850
Population : (m) 32.4
Country Category : Lower Middle Income
Source: AFDB Statistics
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INVESTMENT PROSPECTS & HIGHLIGHTS
SELECT INVESTMENT HIGHLIGHTS
Simplification of administrative procedures for businesses Strengthening the system of business law (competition law and freedom
of pricing, the law on economic interest groups, the law on industrial and intellectual property ...)
Improving regulatory transparency Development and modernization of financial markets Creation of the National Committee of the Business Environment Creation of the Central Authority for the Prevention of Corruption Creation of the Moroccan Office of Intellectual Property and Commercial Promotion of the Charter on Corporate Social Responsibility
Source: Moroccan Investment and Development Agency (MIDA)
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INVESTMENT PROSPECTS AND RECENT MACROECONOMIC DEVELOPMENTS
In 2011 gross domestic product (GDP) growth reached 4.6%, supported by domestic demand and performance in the non-agricultural sectors, construction-related industries and services in particular. This performance is expected to continue in 2012, with growth projected at 4.5%, fuelled by 5.2% growth in non-agricultural GDP.
Growth in the agricultural sector benefited in 2011 from good climate conditions as well as from the first results of the strategic actions implemented under the Plan Maroc Vert.[1] The added value in the agricultural sector increased by 8.2% in 2011 and the 2010/11 agricultural season yielded 8.4 million tonnes in cereal production, or 12% more than the previous season.
Non-cereal agriculture was also helped by good rainfall. The ensuing greater availability of water at river dams, coupled with an increase in acreage sown and the entry into production of new orchards, increased crop output by nearly 7% at the end of 2011.
Fishing, another important component of the Moroccan primary sector, remains dominated by deep-sea catches, which account for more than two-thirds of the total volume of landings. Fishing was estimated to have grown by 1.5% in 2011 and is projected to grow by 9.5% in 2012 as the second phase of the 2011-14 Ibhar programme is implemented.
Growth of the non-agricultural sector continued in 2011, to reach 4.3%. Growth of the secondary sector stood at 4.6%, and of the tertiary sector at 4.2%. This upward trend is expected to be stronger in 2012 and reach 5.2%, with growth rates of the secondary and tertiary sectors at 5.4% and 5.1% respectively.
Phosphate-mining activities benefited in 2011 from a strong recovery in foreign demand from countries such as Brazil, India and the United States. At the end of 2011, phosphate and derivatives exports had increased by 33.2% and 40.2% respectively yielding MAD 35.8 billion (Moroccan dirham) for derivatives and MAD 12.6 billion for rock phosphate.
The added value of manufacturing was thus estimated to have progressed by 3.4% in 2011 and is projected to rise by a further 3.9% in 2012.
The textiles and clothing industry is one of the drivers of Moroccan industry, alone accounting for more than 40% of industrial jobs and
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generating close to MAD 30 billion in export income, which makes it fourth highest in foreign earnings. Export values for garments and hosiery items increased by 1.4% and 6.2% respectively in 2011 compared with the previous year.
The Renault factory in Tangiers is a major project which should initially produce 170 000 vehicles starting in 2012 and 400 000 by 2014-15, 90% of which will be for export.
The electronics industry has confirmed its positive results of 2010 with exports of power lines and cables having risen by 9.8% in 2011.
Construction-related industries grew by 4.6% in 2011 after registering in 2010 a slowdown in activity. Growth in 2011 of these industries is mainly explained by a strong recovery in social housing, in line with the 2010-20 stimulus package adopted in the 2010 budget, as well as by continued implementation of the policy of major infrastructure projects (roads, motorways and airports). Cement sales and mortgage credits, for instance, increased by 7.2% and 7.5% respectively in 2011 compared with the previous year.
Growth in the tertiary sector was 4.2% in 2011 and is expected to increase to 5.1% in 2012.
Travel receipts generated by non-residents increased by 4% at the end of December 2011 to MAD 58.3 billion.
Post and telecommunications, which had suffered a slowdown in 2010, returned to growth in 2011 with a 5.7% increase, which is expected to be a stronger 6.2% in 2012. Growth here is driven as much by land and mobile telephony as by the Internet.
Domestic demand continued to be the main driver for growth in the national economy by contributing 4.9 points in real terms in 2011, thus offsetting the decline in external demand. The contribution to growth of household consumption, one of the main components of domestic demand with an average GDP share of nearly 60% for 1980-2010, increased to 3.4 points in 2011. Otherwise, the volume of gross fixed-capital formation increased by 3.4% in 2011 and is expected to increase further by 4.5% in 2012 thanks to the robust health of construction-related activities.
Public investment is a major catalyst for growth, with its total doubling between 2007 and 2011.
Source: African Economic Outlook 2012 (AFDB, OECD, UNDP, UNECA)
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INVESTMENT HIGHLIGHTS
For over a decade, Morocco launched large-scale projects aimed at elevating its infrastructure to international standards:
Tanger-Med Port entered into service in 2007 with a total capacity of over 3 million containers (8 million in 2016), in addition to professional real estate of over 2000 hectares, complements the overall port infrastructure consisting of 11 ports meeting international standards.
With the completion of the complementary program, the highway network will pass from a length of 1500 km in 2010 to 1800 km in 2015, connecting all cities exceeding 400,000 residents.
Thanks to an Open Sky policy, the 15 international airports in Morocco (largest airport hub in the region) are used by a multitude of international companies and are connected to major cities and economic platforms of world affairs.
A wide network of Economic Activities Zones (Integrated Industrial Platforms, free zones, clusters...)
Telecommunications infrastructure meeting international standards. Three global operators (Fixed phone, mobile, Internet and data), the telecommunications sector in Morocco achieves every year an intense and sustained activity: 97% mobile penetration and 13 million Internet users (September 2010).
Morocco launched numerous strategic sectorial plans that ensure strong and sustainable economic growth. This reform momentum is marked by an innovative contracting approach and public private partnership advocating greater and coordinated participation of the private sector in the development of sectoral strategies and policies along with the funding of projects allowing to refocus the State’s role on its regulatory powers.
These strategies are part of a process to speed the development of strategic sectors like agriculture, fishery, mining, renewable energy, logistics and promising sectors such as automotive, aerospace and services with high added value.
Source: Moroccan Investment and Development Agency (MIDA)
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SECTORAL INVESTMENT OPPORTUNITIES
Industries Opportunities
Industry The state and the private sector have sealed this covenant by signing
a contract program covering the period 2009-2015. By consolidating
into one document their mutual commitments, partners bring to all investors the necessary visibility on the changes of the future
Moroccan industry. This contractual formula also guarantees the
proper execution of measures agreed upon, by ensuring the
involvement of all parties concerned, around specific, concrete, concerted and budgeted actions.
Solar
Energy
As part of its strategy towards energy use, Morocco gives priority to
developing renewable energy and sustainable development. With
abundant solar resources (a potential of 2 600 kWh/m²/year) and a strategic position at the heart of an energy hub (Connexion with
Spanish Network through two electric lines 400kV/700 MW), Morocco
offers a wide range of investment opportunities in the sector of thermal and photovoltaic solar energy.
Wind
Energy
As part of its strategy towards energy use, Morocco has undertaken
a vast wind energy program, to support the development of
renewable energy and energy efficiency in the country. The Moroccan Integrated Wind Energy Project, spanning over a period of
10 years with a total investment estimated at 31.5 billion dirhams,
will enable the country to bring the installed capacity, from wind energy, from 280 MW in 2010 to 2000 MW in 2020.
Tourism Between 2005 and 2010, the number of tourists visiting Morocco has
increased from 5.8 to over 9.3 million, and a mounts of foreign direct
investments are around € 30 billion over this period combined. In addition, in 2009, Morocco was the only Mediterranean countries to
have increased more than 6% while the world market decreased by
5%
Agriculture The agricultural sector contributes with 19% to the national GDP, divided between agriculture (15%) and agro-industry (4%). This
sector employs over 4 million people including about 100,000 in
agro-industry.
The new agricultural strategy, Green Morocco Plan, established by the Ministry of Agriculture and Fishing, aims to consolidate the
success achieved and to meet new challenges facing Morocco's
competitiveness and opening of market
Fishing The fishing sector in Morocco has developed an integrated, ambitious and comprehensive development in 2020 called "Halieutis. It aims at
upgrading and modernization of various sectors of the fishing
industry and improve its competitiveness and performance
Source: Moroccan Investment and Development Agency (MIDA)
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INITIATIVES TO FOSTER INVESTMENT & TRADE
Morocco launched numerous strategic sectoral plans to speed the development of strategic sectors like agriculture, fisheries, mining, renewable energy, logistics and promising sectors such as automotive, aerospace and services with high added value.
The Government of Morocco has, in recent times, increased its reform practices and implemented wide- ranging targets for reform.
The Government of Morocco’s Investment Charter Law simplifies taxes and investment laws.
Morocco is negotiating with Argentina, Brazil, Mexico, Bangladesh, Japan, Thailand and Saudi Arabia for double taxation treaties.
Morocco has 16 regional investment centers (RICs), which serve as a “single- window clearance centers” for foreign investors setting up businesses in the country.
Sectoral plans such as Emergence Plan (Industry), Green Morocco Plan (Agriculture), Halieutis (Fisheries), Solar and Wind Energy Plan and 2020 Vision Plan (Tourism), aim at ensuring strong and sustainable economic growth.
Source: Moroccan Investment and Development Agency (MIDA)
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KEY INVESTMENT PERFORMANCE
FOREIGN DIRECT INVESTMENT INFLOWS & STOCKS
Note: US Dollars at current prices and current exchange rates in millions
Source: UNCTAD Stat
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
Series 1 8841.7 11649 12131 17106 19883 20752 29939 38613 39388 42581 45082 46300
US-
Do
llars
Foreign Direct Investment-Stock
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
Series 1 422.21 2807.7 481.3 2314.5 894.78 1654 2449.4 2804.5 2487.1 1951.7 1573.9 2519.1
US-
Do
llars
Foreign Direct Investment-Inflow
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GLOBAL COMPETITIVENESS RANKINGS
GLOBAL COMPETITIVENESS INDEX
GCI Rank Score
Out OF 142 1 TO 7
GCI 2011–2012 73 4.2
GCI 2010–2011 (out of 139) 75 4.1
GCI 2009–2010 (out of 133) 73 4.0
Basic requirements (40%) 54 4.7
Institutions 59 4.0
Infrastructure 69 3.9
Macroeconomic environment 25 5.6
Health and primary education 93 5.4
Efficiency enhancers (50%) 83 3.9
Higher education and training 98 3.6
Goods market efficiency 76 4.2
Labor market efficiency 132 3.5
Financial market development 62 4.2
Technological readiness 66 3.7
Market size 57 4.0
Innovation and sophistication factors (10%)
79 3.4
Business sophistication 80 3.8
Innovation 80 3.0
Source: The Global Competitiveness Report 2011-2012
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MARKET & ENVIRONMENT ANALYSIS
Source: The Global Information Technology Report 2010–2011
NETWORKED READINESS INDEX
Score Rank
Venture capital availability* 3.0 40 Financial market sophistication*
4.5 60
Availability of latest technologies*
5.0 68
State of cluster development* 3.4 68
Burden of government regulation*
3.4 60
Extent & effect of taxation* 3.2 99
Total tax rate, % profits 41.7 75
No. days to start a business 12 45
No. procedures to start a business
6 33
Freedom of the press* 4.3 94
Effectiveness of law-making bodies*
3.7 58
Laws relating to ICT* 3.6 84
Judicial independence* 3.5 78
Efficiency of legal system in settling disputes*
3.9 56
Efficiency of legal system in challenging regs*
3.9 52
Property rights* 4.4 62
Intellectual property protection*
3.4 71
Software piracy rate, % software installed
66 60
No. procedures to enforce a contract
40 94
No. days to enforce a contract 615 88
Internet & telephony competition, 0-6 (best)
6 1
*Out of a 1–7 (best) scale. This indicator is derived from the World Economic Forum’s Executive Opinion Survey.
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EASE OF DOING BUSINESS
Overall Rank 94
Starting a business (rank) 93
Procedures (number) 6
Time (days) 12
Cost (% of income per capita) 15.7
Minimum capital (% of income per capita) 10.7
Dealing with construction permits (rank) 75
Procedures (number) 15
Time (days) 97
Cost (% of income per capita) 234.6
Getting electricity (rank) 107
Procedures (number) 5
Time (days) 71
Cost (% of income per capita) 2,588.6
Registering property (rank) 144
Procedures (number) 8
Time (days) 75
Cost (% of property value) 4.9
Getting credit (rank) 98
Strength of legal rights index (0-10) 3
Depth of credit information index (0-6) 5
Public registry coverage (% of adults) 0.0
Private bureau coverage (% of adults) 14.6
Protecting investors (rank) 97
Extent of disclosure index (0-10) 7
Extent of director liability index (0-10) 2
Ease of shareholder suits index (0-10) 6
Strength of investor protection index (0-10) 5.0
Paying taxes (rank) 112
Payments (number per year) 17
Time (hours per year) 238
Total tax rate (% of profit) 49.6
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Trading across borders (rank) 43
Documents to export (number) 6
Time to export (days) 11
Cost to export (US$ per container) 577
Documents to import (number) 8
Time to import (days) 16
Cost to import (US$ per container) 950
Enforcing contracts (rank) 89
Procedures (number) 40
Time (days) 510
Cost (% of claim) 25.2
Resolving insolvency (rank) 67
Time (years) 1.8
Cost (% of estate) 18
Recovery rate (cents on the dollar) 38.3
Source: Doing Business 2012-IFC & WB
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COUNTRY INTERNATIONAL TRADE PERFORMANCE
IMPORTS-INTERNATIONAL MARKET
Industry Import value
Imports as a share of
total imports (%)
Growth of imports in value (%
p.a.)
Growth of world
imports in value (%
p.a.)
Growth of share in world
imports (% p.a.)
00 All industries 35,378 100 11
27 Mineral fuels, oils, distillation products, etc
8,133 22.99 13 8 5
84 Boilers, machinery; nuclear reactors, etc
3,802 10.75 13 4 9
85 Electrical, electronic equipment
2,977 8.42 8 5 2
87 Vehicles other than railway, tramway
2,801 7.92 17 1 16
10 Cereals 1,408 3.98 23 12 11
39 Plastics and articles thereof
1,257 3.55 9 6 3
72 Iron and steel 1,180 3.34 1 3 -2
52 Cotton 624 1.76 -2 4 -6
73 Articles of iron or steel 587 1.66 12 5 7
48 Paper & paperboard, articles of pulp, paper and board
545 1.54 13 3 10
30 Pharmaceutical products
502 1.42 18 10 8
44 Wood and articles of wood, wood charcoal
499 1.41 5 -1 6
55 Manmade staple fibres 457 1.29 2 4 -2
15 Animal,vegetable fats and oils, cleavage products, etc
453 1.28 13 14 -1
25 Salt, sulphur, earth, stone, plaster, lime and cement
452 1.28 11 6 5
29 Organic chemicals 450 1.27 9 5 4
90 Optical, photo, technical, medical, etc apparatus
435 1.23 13 5 8
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28 Inorganic chemicals, precious metal compound, isotopes
406 1.15 15 7 8
17 Sugars and sugar confectionery
401 1.13 11 9 2
23 Residues, wastes of food industry, animal fodder
391 1.1 34 14 20
38 Miscellaneous chemical products
365 1.03 10 9 1
74 Copper and articles thereof
361 1.02 8 5 3
88 Aircraft, spacecraft, and parts thereof
346 0.98 1 3 -2
60 Knitted or crocheted fabric
325 0.92 9 4 5
40 Rubber and articles thereof
316 0.89 17 9 8
94 Furniture, lighting, signs, prefabricated buildings
316 0.89 19 3 15
76 Aluminium and articles thereof
303 0.86 4 0 4
04 Dairy products, eggs, honey, edible animal product nes
244 0.69 16 9 7
32 Tanning, dyeing extracts, tannins, derivs,pigments etc
227 0.64 11 5 6
54 Manmade filaments 226 0.64 4 2 3
33 Essential oils, perfumes, cosmetics, toileteries
225 0.64 17 8 9
12 Oil seed, oleagic fruits, grain, seed, fruit, etc, nes
210 0.59 0 21 -21
86 Railway, tramway locomotives, rolling stock, equipment
203 0.57 48 9 38
09 Coffee, tea, mate and spices
196 0.55 6 13 -7
62 Articles of apparel, accessories, not knit or crochet
195 0.55 15 2 13
31 Fertilizers 186 0.53 7 14 -7
58 Special woven or tufted fabric, lace, tapestry etc
152 0.43 0 -2 2
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96 Miscellaneous manufactured articles
149 0.42 10 5 5
83 Miscellaneous articles of base metal
144 0.41 20 4 16
69 Ceramic products 144 0.41 17 3 14
68 Stone, plaster, cement, asbestos, mica, etc articles
133 0.37 26 2 24
70 Glass and glassware 129 0.37 10 5 6
56 Wadding, felt, nonwovens, yarns, twine, cordage, etc
127 0.36 9 6 3
08 Edible fruit, nuts, peel of citrus fruit, melons
125 0.35 27 8 19
49 Printed books, newspapers, pictures etc
115 0.33 3 2 1
41 Raw hides and skins (other than furskins) and leather
111 0.31 1 -2 2
64 Footwear, gaiters and the like, parts thereof
111 0.31 8 6 3
03 Fish, crustaceans, molluscs, aquatic invertebrates nes
110 0.31 22 5 17
34 Soaps, lubricants, waxes, candles, modelling pastes
108 0.31 20 8 12
01 Live animals 104 0.29 32 6 25
82 Tools, implements, cutlery, etc of base metal
91 0.26 9 5 4
24 Tobacco and manufactured tobacco substitutes
88 0.25 6 7 -1
89 Ships, boats and other floating structures
82 0.23 -1 13 -13
59 Impregnated, coated or laminated textile fabric
80 0.23 2 5 -3
61 Articles of apparel, accessories, knit or crochet
77 0.22 -14 5 -19
26 Ores, slag and ash 73 0.21 40 18 22
51 Wool, animal hair, horsehair yarn and fabric thereof
73 0.21 -13 -3 -10
99 Commodities not 65 0.18 1243 2 1241
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elsewhere specified
19 Cereal, flour, starch, milk preparations and products
64 0.18 7 9 -3
20 Vegetable, fruit, nut, etc food preparations
64 0.18 27 7 21
63 Other made textile articles, sets, worn clothing etc
63 0.18 26 6 19
21 Miscellaneous edible preparations
63 0.18 17 9 8
22 Beverages, spirits and vinegar
58 0.16 11 5 6
07 Edible vegetables and certain roots and tubers
58 0.16 10 9 1
35 Albuminoids, modified starches, glues, enzymes
54 0.15 7 6 0
95 Toys, games, sports requisites
51 0.14 7 6 2
05 Products of animal origin, nes
50 0.14 9 7 2
42 Articles of leather, animal gut, harness, travel goods
40 0.11 9 6 3
18 Cocoa and cocoa preparations
36 0.1 15 13 2
93 Arms and ammunition, parts and accessories thereof
33 0.09 67 11 56
57 Carpets and other textile floor coverings
33 0.09 51 1 50
91 Clocks and watches and parts thereof
33 0.09 3 7 -5
06 Live trees, plants, bulbs, roots, cut flowers etc
32 0.09 7 4 3
79 Zinc and articles thereof
31 0.09 -10 -7 -3
53 Vegetable textile fibres nes, paper yarn, woven fabric
30 0.08 -8 -2 -6
37 Photographic or cinematographic goods
28 0.08 4 -3 7
71 Pearls, precious stones, metals, coins, etc
26 0.07 -7 12 -19
02 Meat and edible meat 24 0.07 44 9 35
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Source: International Trade Centre (2010, in USD millions)
offal
47 Pulp of wood, fibrous cellulosic material, waste etc
24 0.07 7 10 -3
50 Silk 19 0.05 -14 -5 -9
16 Meat, fish and seafood food preparations nes
18 0.05 10 6 3
11 Milling products, malt, starches, inulin, wheat gluten
11 0.03 25 12 14
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EXPORTS-INTERNATIONAL MARKET
Industry Exports in value
Exports as a share of
total exports (%)
Growth of exports in value (%
p.a.)
Growth of world
exports in value (%
p.a.)
Growth of share in world
exports (% p.a.)
00 All industries 17,764 100 9
85 Electrical, electronic equipment
2,637 14.85 9 5 4
62 Articles of apparel, accessories, not knit or crochet
2,143 12.06 -3 2 -4
28 Inorganic chemicals, precious metal compound, isotopes
1,663 9.36 13 8 5
31 Fertilizers 1,562 8.79 32 21 11
25 Salt, sulphur, earth, stone, plaster, lime and cement
1,174 6.61 17 6 11
61 Articles of apparel, accessories, knit or crochet
828 4.66 1 5 -5
03 Fish, crustaceans, molluscs, aquatic invertebrates nes
768 4.32 3 7 -4
16 Meat, fish and seafood food preparations nes
614 3.46 6 6 0
07 Edible vegetables and certain roots and tubers
601 3.38 20 10 10
27 Mineral fuels, oils, distillation products, etc
588 3.31 6 7 -2
08 Edible fruit, nuts, peel of citrus fruit, melons
575 3.24 10 9 1
71 Pearls, precious stones, metals, coins, etc
373 2.1 36 14 22
64 Footwear, gaiters and the like, parts thereof
352 1.98 6 7 -1
84 Boilers, machinery; nuclear reactors, etc
262 1.48 29 4 26
87 Vehicles other than railway, tramway
245 1.38 20 2 19
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74 Copper and articles thereof
231 1.3 20 4 16
63 Other made textile articles, sets, worn clothing etc
225 1.27 55 7 48
26 Ores, slag and ash 211 1.19 6 19 -12
88 Aircraft, spacecraft, and parts thereof
208 1.17 90 -4 94
20 Vegetable, fruit, nut, etc food preparations
199 1.12 10 7 3
72 Iron and steel 150 0.84 -8 4 -12
15 Animal,vegetable fats and oils, cleavage products, etc
138 0.78 5 16 -11
23 Residues, wastes of food industry, animal fodder
123 0.69 32 15 17
47 Pulp of wood, fibrous cellulosic material, waste etc
116 0.66 21 10 10
39 Plastics and articles thereof
116 0.65 29 6 23
04 Dairy products, eggs, honey, edible animal product nes
96 0.54 -1 10 -11
78 Lead and articles thereof
88 0.49 13 11 2
94 Furniture, lighting, signs, prefabricated buildings
80 0.45 5 5 0
33 Essential oils, perfumes, cosmetics, toileteries
73 0.41 12 8 4
76 Aluminium and articles thereof
68 0.39 7 1 6
42 Articles of leather, animal gut, harness, travel goods
65 0.37 0 8 -7
12 Oil seed, oleagic fruits, grain, seed, fruit, etc, nes
64 0.36 -5 21 -26
30 Pharmaceutical products
62 0.35 18 10 8
21 Miscellaneous edible preparations
62 0.35 10 9 1
73 Articles of iron or steel 61 0.34 10 4 6
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05 Products of animal origin, nes
60 0.34 6 7 -2
81 Other base metals, cermets, articles thereof
58 0.33 8 0 7
48 Paper & paperboard, articles of pulp, paper and board
50 0.28 8 3 4
52 Cotton 49 0.28 2 4 -2
90 Optical, photo, technical, medical, etc apparatus
45 0.25 8 6 2
40 Rubber and articles thereof
43 0.24 43 9 34
69 Ceramic products 40 0.22 -3 3 -6
13 Lac, gums, resins, vegetable saps and extracts nes
39 0.22 -2 9 -11
34 Soaps, lubricants, waxes, candles, modelling pastes
37 0.21 19 8 11
11 Milling products, malt, starches, inulin, wheat gluten
33 0.19 8 11 -4
41 Raw hides and skins (other than furskins) and leather
33 0.18 15 0 15
55 Manmade staple fibres 31 0.18 -7 3 -10
68 Stone, plaster, cement, asbestos, mica, etc articles
30 0.17 -10 3 -13
09 Coffee, tea, mate and spices
29 0.16 27 13 14
99 Commodities not elsewhere specified
27 0.15 178 4 174
89 Ships, boats and other floating structures
25 0.14 -7 17 -24
44 Wood and articles of wood, wood charcoal
23 0.13 -14 -1 -13
17 Sugars and sugar confectionery
22 0.12 2 11 -9
22 Beverages, spirits and vinegar
20 0.11 -3 6 -9
19 Cereal, flour, starch, milk preparations and products
16 0.09 25 10 15
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Source: International Trade Centre (2010, in USD millions)
29 Organic chemicals 16 0.09 19 5 14
24 Tobacco and manufactured tobacco substitutes
15 0.09 365 7 358
32 Tanning, dyeing extracts, tannins, derivs,pigments etc
13 0.08 22 5 17
57 Carpets and other textile floor coverings
13 0.07 -11 2 -13
95 Toys, games, sports requisites
12 0.07 20 5 15
45 Cork and articles of cork
12 0.07 -8 -3 -6
38 Miscellaneous chemical products
11 0.06 45 10 35
51 Wool, animal hair, horsehair yarn and fabric thereof
11 0.06 24 -1 25
06 Live trees, plants, bulbs, roots, cut flowers etc
11 0.06 9 4 5
54 Manmade filaments 10 0.06 2 2 0
60 Knitted or crocheted fabric
10 0.06 -1 5 -6
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INVESTMENT ENVIRONMENT HIGHLIGHTS FOR INDIAN INVESTORS
MARKET ENTRY OPTIONS FOR INDIAN INVESTORS
Casablanca and Tangier are the primary points of entry for foreign manufactured goods for direct distribution to the public, wholesalers, distributors and retailers. In Morocco, business is based on trust and mutual respect built over time.
Exporters will need to travel to Morocco frequently to develop and strengthen relationships in order to do business successfully.
Morocco’s 16 Regional Investment Centers are the government’s “one stop shops” for the entire registration process, which has been greatly simplified in recent years.
Direct marketing, Franchises and Joint ventures are some of the popular modes to enter Moroccan market.
Source: E&Y Morocco Investment Guide
BILATERAL AGREEMENTS
Memorandums of Understanding (MOUs) have been signed for bilateral cooperation in housing, geology and mines, agriculture research and education, plant protection and plant quarantine, energy and mines.
The Morocco-Indian Joint Business Council (MIJBC) was set up in February 2000 to help promote trade between the 2 countries and contribute to industrial and technological collaboration between their enterprises and economic institutions.
Source: Directorate General of Foreign Trade, GOI
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SELECT INDIAN INVESTORS
Taj Hotels Chambal Fertilizers and Chemicals Limited Tata Chemicals Berggruen Hotels Tata Motors Tata Consultancy Services
Source: Directorate General of Foreign Trade, GOI
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TRADE WITH INDIA
OVERALL PERFORMANCE ANALYSIS
Dated: 05/11/2012
Values in US $ Millions
S.No. Year 2007-2008
2008-2009
2009-2010
2010-2011
2011-2012
1. EXPORT 208.43 242.85 250.47 318.57 372.10
2. %Growth 16.51 3.14 27.19 16.80
3. India's Total Export 163,132.18 185,295.36 178,751.43 251,136.19 305,963.92
4. %Growth 13.59 -3.53 40.49 21.83
5. %Share 0.13 0.13 0.14 0.13 0.12
6. IMPORT 499.40 948.15 861.51 839.64 1,635.33
7. %Growth 89.86 -9.14 -2.54 94.77
8. India's Total Import 251,654.01 303,696.31 288,372.88 369,769.13 489,319.49
9. %Growth 20.68 -5.05 28.23 32.33
10. %Share 0.20 0.31 0.30 0.23 0.33
11. TOTAL TRADE 707.83 1,191.00 1,111.98 1,158.21 2,007.44
12. %Growth 68.26 -6.63 4.16 73.32
13. India's Total Trade 414,786.19 488,991.67 467,124.31 620,905.32 795,283.41
14. %Growth 17.89 -4.47 32.92 28.08
15. %Share 0.17 0.24 0.24 0.19 0.25
16. TRADE BALANCE
17. India's Trade Balance -88,521.83 -
118,400.95
-
109,621.45
-
118,632.94
-
183,355.57
Note: Since 2006-07, Petroleum figures are being computed from Import Daily
trade Returns (DTRs) to generate country-wise/port-wise tables. Up to 2005-06
consolidated petroleum import figures were being received from the Petroleum
Ministry.
Source: Directorate General of Foreign Trade, GOI
27 | P a g e
IMPORTS-INDIA
Dated: 27/12/2012
Values in US$ Million
Sorted on HS Code
S.no. Hs Code Commodity 2011-2012
2012-2013(apr-
sep)
1. 03 Fish and crustaceans, molluscs and
other aquatic invertabrates.
0.26
2. 05 Products of animal origin, not
elsewhere specified or included.
0.14
3. 06 Live trees and other plants; bulbs;
roots and the like; cut flowers and
ornamental foliage.
0.00
4. 07 Edible vegetables and certain roots
and tubers.
0.07 0.04
5. 08 Edible fruit and nuts; peel or citrus
fruit or melons.
0.21 0.01
6. 09 Coffee, tea, mate and spices. 0.22 0.04
7. 12 Oil seeds and olea. Fruits; misc.
Grains, seeds and fruit; industrial or
medicinal plants; straw and fodder.
0.71 0.43
8. 13 Lac; gums, resins and other vegetable
saps and extracts.
0.16 0.16
9. 15 Animal or vegetable fats and oils and
their cleavage products; pre. Edible
fats; animal or vegetable waxex.
1.59
10. 19 Preparations of cereals, flour, starch
or milk; pastrycooks products.
0.01
11. 20 Preparations of vegetables, fruit, nuts
or other parts of plants.
0.01 0.03
12. 21 Miscellaneous edible preparations. 0.02
13. 22 Beverages, spirits and vinegar. 0.00
28 | P a g e
14. 25 Salt; sulphur; earths and stone;
plastering materials, lime and cement.
243.55 166.09
15. 26 Ores, slag and ash. 3.12 2.51
16. 27 Mineral fuels, mineral oils and
products of their distillation;
bituminous substances; mineral
waxes.
0.23 0.13
17. 28 Inorganic chemicals; organic or
inorganic compounds of precious
metals, of rare-earth metals, or radi.
Elem. Or of isotopes.
913.00 283.58
18. 29 Organic chemicals 0.39 0.05
19. 30 Pharmaceutical products 0.02
20. 31 Fertilisers. 407.86 235.60
21. 32 Tanning or dyeing extracts; tannins
and their deri. Dyes, pigments and
other colouring matter; paints and
ver; putty and other mastics; inks.
0.06 0.00
22. 33 Essential oils and resinoids;
perfumery, cosmetic or toilet
preparations.
0.14 0.06
23. 34 Soap, organic surface-active agents,
washing preparations, lubricating
preparations, artificial waxes,
prepared waxes, polishing or scouring
prep.
0.00 0.00
24. 35 Albuminoidal substances; modified
starches; glues; enzymes.
0.00 0.01
25. 38 Miscellaneous chemical products. 0.14
26. 39 Plastic and articles thereof. 0.25 0.23
27. 40 Rubber and articles thereof. 0.04 0.00
28. 41 Raw hides and skins (other than
furskins) and leather
0.01 0.39
29 | P a g e
29. 42 Articles of leather,saddlery and
harness;travel goods, handbags and
similar cont.articles of animal
gut(othr thn silk-wrm)gut.
0.00 0.00
30. 44 Wood and articles of wood; wood
charcoal.
0.32 0.05
31. 45 Cork and articles of cork. 0.04 0.05
32. 47 Pulp of wood or of other fibrous
cellulosic material; waste and scrap of
paper or paperboard.
0.58 0.04
33. 48 Paper and paperboard; articles of
paper pulp, of paper or of paperboard.
0.14 0.10
34. 49 Printed bookds, newspapers, pictures
and other products of the printing
industry; manuscripts, typescripts and
plans.
0.01 0.00
35. 51 Wool, fine or coarse animal hair,
horsehair yarn and woven fabric.
0.89 0.28
36. 52 Cotton. 0.01
37. 54 Man-made filaments. 0.46
38. 55 Man-made staple fibres. 0.08
39. 57 Carpets and other textile floor
coverings.
0.00
40. 58 Special woven fabrics; tufted textile
fabrics; lace; tapestries; trimmings;
embroidery.
0.00
41. 60 Knitted or crocheted fabrics.
42. 61 Articles of apparel and clothing
accessories, knitted or corcheted.
0.09 0.04
43. 62 Articles of apparel and clothing
accessories, not knitted or crocheted.
0.17 0.11
44. 63 Other made up textile articles; sets;
worn clothing and worn textile
0.69 0.39
30 | P a g e
articles; rags
45. 64 Footwear, gaiters and the like; parts
of such articles.
0.01
46. 65 Headgear and parts thereof. 0.00
47. 68 Articles of stone, plaster, cement,
asbestos, mica or similar materials.
0.15 0.00
48. 69 Ceramic products. 0.01 0.00
49. 70 Glass and glassware. 0.07
50. 71 Natural or cultured pearls,precious or
semiprecious stones,pre.metals,clad
with pre.metal and artcls
thereof;imit.jewlry;coin.
3.48 0.00
51. 72 Iron and steel 3.69 1.69
52. 73 Articles of iron or steel 0.08 0.33
53. 74 Copper and articles thereof. 12.50 4.57
54. 75 Nickel and articles thereof. 0.35
55. 76 Aluminium and articles thereof. 22.04 12.82
56. 78 Lead and articles thereof. 1.76
57. 79 Zinc and articles thereof. 0.41 0.25
58. 81 Other base metals; cermets; articles
thereof.
0.03
59. 82 Tools implements, cutlery, spoons
and forks, of base metal; parts thereof
of base metal.
0.58 0.01
60. 83 Miscellaneous articles of base metal. 0.01
61. 84 Nuclear reactors, boilers, machinery
and mechanical appliances; parts
thereof.
1.32 0.27
62. 85 Electrical machinery and equipment
and parts thereof; sound recorders and
reproducers, television image and
sound recorders and reproducers,and
5.60 2.37
31 | P a g e
parts.
63. 87 Vehicles other than railway or
tramway rolling stock, and parts and
accessories thereof.
0.10 0.05
64. 88 Aircraft, spacecraft, and parts thereof. 0.31
65. 90 Optical, photographic
cinematographic measuring, checking
precision, medical or surgical inst.
And apparatus parts and accessories
thereof;
0.79 0.04
66. 91 Clocks and watches and parts thereof. 0.02
67. 94 Furniture; bedding, mattresses,
mattress supports, cushions and
similar stuffed furnishing; lamps and
lighting fittings not elsewhere
specified or inc
0.01 0.01
68. 96 Miscellaneous manufactured articles. 0.01
69. 99 Miscellaneous goods. 8.30 0.00
Total 1,635.33 714.92
Source: Directorate General of Foreign Trade, GOI
32 | P a g e
EXPORTS-INDIA
Dated: 27/12/2012
Values in US$ Million
Sorted on HS Code
S.no. Hs Code Commodity 2011-2012
2012-2013(apr-
sep)
1. 03 Fish and crustaceans, molluscs and
other aquatic invertabrates.
0.15 0.15
2. 04 Dairy produce; birds' eggs; natural
honey; edible prod. Of animal origin,
not elsewhere spec. Or included.
1.18 0.69
3. 05 Products of animal origin, not
elsewhere specified or included.
0.00
4. 06 Live trees and other plants; bulbs; roots
and the like; cut flowers and
ornamental foliage.
0.04 0.06
5. 07 Edible vegetables and certain roots and
tubers.
0.34 0.01
6. 08 Edible fruit and nuts; peel or citrus
fruit or melons.
1.54 1.11
7. 09 Coffee, tea, mate and spices. 12.99 5.10
8. 10 Cereals. 0.95 0.38
9. 11 Products of the milling industry; malt;
starches; inulin; wheat gluten.
0.06
10. 12 Oil seeds and olea. Fruits; misc.
Grains, seeds and fruit; industrial or
medicinal plants; straw and fodder.
0.19 0.20
11. 13 Lac; gums, resins and other vegetable
saps and extracts.
0.64 0.37
12. 14 Vegetable plaiting materials; vegetable
products not elsewhere specified or
included.
0.00
33 | P a g e
13. 15 Animal or vegetable fats and oils and
their cleavage products; pre. Edible
fats; animal or vegetable waxex.
0.58 0.14
14. 17 Sugars and sugar confectionery. 0.16 0.05
15. 18 Cocoa and cocoa preparations. 0.11 0.17
16. 19 Preparations of cereals, flour, starch or
milk; pastrycooks products.
0.00 0.05
17. 20 Preparations of vegetables, fruit, nuts
or other parts of plants.
0.03 0.02
18. 21 Miscellaneous edible preparations. 0.00
19. 23 Residues and waste from the food
industries; prepared animal foder.
0.20 0.03
20. 24 Tobacco and manufactured tobacco
substitutes.
4.31 1.01
21. 25 Salt; sulphur; earths and stone;
plastering materials, lime and cement.
0.21 0.25
22. 27 Mineral fuels, mineral oils and
products of their distillation;
bituminous substances; mineral waxes.
1.82 0.89
23. 28 Inorganic chemicals; organic or
inorganic compounds of precious
metals, of rare-earth metals, or radi.
Elem. Or of isotopes.
13.72 2.64
24. 29 Organic chemicals 14.08 7.80
25. 30 Pharmaceutical products 13.58 8.78
26. 31 Fertilisers.
27. 32 Tanning or dyeing extracts; tannins and
their deri. Dyes, pigments and other
colouring matter; paints and ver; putty
and other mastics; inks.
4.79 2.30
28. 33 Essential oils and resinoids; perfumery,
cosmetic or toilet preparations.
1.77 1.09
29. 34 Soap, organic surface-active agents, 0.64 0.41
34 | P a g e
washing preparations, lubricating
preparations, artificial waxes, prepared
waxes, polishing or scouring prep.
30. 35 Albuminoidal substances; modified
starches; glues; enzymes.
0.05 0.11
31. 36 Explosives; pyrotechnic products;
matches; pyrophoric alloys; certain
combustible preparations.
32. 37 Photographic or cinematographic
goods.
0.01 0.01
33. 38 Miscellaneous chemical products. 10.35 3.39
34. 39 Plastic and articles thereof. 23.00 6.76
35. 40 Rubber and articles thereof. 4.22 4.11
36. 41 Raw hides and skins (other than
furskins) and leather
0.92 0.41
37. 42 Articles of leather,saddlery and
harness;travel goods, handbags and
similar cont.articles of animal gut(othr
thn silk-wrm)gut.
0.30 0.15
38. 43 Furskins and artificial fur,
manufactures thereof.
0.00 0.00
39. 44 Wood and articles of wood; wood
charcoal.
0.21 0.01
40. 48 Paper and paperboard; articles of paper
pulp, of paper or of paperboard.
0.05 0.04
41. 49 Printed bookds, newspapers, pictures
and other products of the printing
industry; manuscripts, typescripts and
plans.
0.12 0.24
42. 50 Silk 0.53 0.30
43. 51 Wool, fine or coarse animal hair,
horsehair yarn and woven fabric.
0.32 0.04
44. 52 Cotton. 35.85 11.18
35 | P a g e
45. 53 Other vegetable textile fibres; paper
yarn and woven fabrics of paper yarn.
1.66 0.49
46. 54 Man-made filaments. 38.32 16.68
47. 55 Man-made staple fibres. 40.72 22.98
48. 56 Wadding, felt and nonwovens; spacial
yarns; twine, cordage, ropes and cables
and articles thereof.
4.08 2.30
49. 57 Carpets and other textile floor
coverings.
0.65 0.20
50. 58 Special woven fabrics; tufted textile
fabrics; lace; tapestries; trimmings;
embroidery.
2.59 2.08
51. 59 Impregnated, coated, covered or
laminated textile fabrics; textile articles
of a kind suitable for industrial use.
0.02
52. 60 Knitted or crocheted fabrics. 0.08 0.01
53. 61 Articles of apparel and clothing
accessories, knitted or corcheted.
0.63 0.36
54. 62 Articles of apparel and clothing
accessories, not knitted or crocheted.
2.55 3.18
55. 63 Other made up textile articles; sets;
worn clothing and worn textile articles;
rags
1.71 1.05
56. 64 Footwear, gaiters and the like; parts of
such articles.
0.09 0.03
57. 65 Headgear and parts thereof. 0.11 0.01
58. 66 Umbrellas, sun umbrellas, walking-
sticks, seat-sticks, whips,riding-crops
and parts thereof.
0.00 0.00
59. 68 Articles of stone, plaster, cement,
asbestos, mica or similar materials.
1.23 0.86
60. 69 Ceramic products. 0.49 0.13
61. 70 Glass and glassware. 1.26 1.54
36 | P a g e
62. 71 Natural or cultured pearls,precious or
semiprecious stones,pre.metals,clad
with pre.metal and artcls
thereof;imit.jewlry;coin.
0.73 0.50
63. 72 Iron and steel 3.22 5.15
64. 73 Articles of iron or steel 3.05 7.72
65. 74 Copper and articles thereof. 7.14 4.54
66. 75 Nickel and articles thereof. 0.01 0.01
67. 76 Aluminium and articles thereof. 0.36 0.15
68. 78 Lead and articles thereof. 0.13 0.13
69. 79 Zinc and articles thereof. 0.95 0.00
70. 82 Tools implements, cutlery, spoons and
forks, of base metal; parts thereof of
base metal.
1.12 0.84
71. 83 Miscellaneous articles of base metal. 0.12 0.11
72. 84 Nuclear reactors, boilers, machinery
and mechanical appliances; parts
thereof.
20.44 26.67
73. 85 Electrical machinery and equipment
and parts thereof; sound recorders and
reproducers, television image and
sound recorders and reproducers,and
parts.
30.23 6.97
74. 86 Railway or tramway locomotives,
rolling-stock and parts thereof; railway
or tramway track fixtures and fittings
and parts thereof; mechanical
0.00
75. 87 Vehicles other than railway or tramway
rolling stock, and parts and accessories
thereof.
52.30 23.34
76. 88 Aircraft, spacecraft, and parts thereof. 0.00 0.01
77. 90 Optical, photographic cinematographic
measuring, checking precision, medical
3.51 1.86
37 | P a g e
or surgical inst. And apparatus parts
and accessories thereof;
78. 91 Clocks and watches and parts thereof. 0.00 0.01
79. 92 Musical instruments; parts and
accessories of such articles.
0.00
80. 93 Arms and ammunition; parts and
accessories thereof.
0.01
81. 94 Furniture; bedding, mattresses,
mattress supports, cushions and similar
stuffed furnishing; lamps and lighting
fittings not elsewhere specified or inc
0.47 0.03
82. 95 Toys, games and sports requisites;
parts and accessories thereof.
0.15 0.16
83. 96 Miscellaneous manufactured articles. 0.65 0.47
84. 97 Works of art collectors' pieces and
antiques.
1.19 0.44
85. 98 Project goods; some special uses. 0.01 0.00
86. 99 Miscellaneous goods. 0.09 0.01
Total 372.10 191.56
Source: Directorate General of Foreign Trade, GOIs