APPENDIX A Country Data 1. Profile Population: 26.5 million Population Growth Rate: 2.2 percent Religion: Islam, Judaism (less than 1%) Government System: Constitutional Monarchy. King Hassan II has reigned since 1961. Languages: French (business), Arabic (official), Berber dialects, Spanish (in north) Location: On the northwest corner of Africa, less than 20 kms across the straits of Gibraltar from Spain. Area: 280,000 square miles, about the size of Oregon and Washington combined Coastline: 2,120 miles, Mediterranean Sea and Atlantic Ocean Climate: Mediterranean Work Week: Monday - Friday, generally 8:30-12:30 a.m. and 2:00-6:30 p.m. with summer variation Direct Dial Country Code: (212), Casablanca (2), Rabat (7) 2. Domestic Economy (USD millions, unless otherwise noted; Average exchange rate is USD1 = DH 9.3). 1993 1994e 1995e Gross Domestic Product 27,600 31,500 32,100 Real GDP growth (percent) -1 8 2 GDP per capita (USD) 1,058 1,184 1,181 Government Spending (percent GDP) 22 23 24 Inflation (Dec/Dec CPI pct chg) 5.9 6.8 6.8 Unemployment (Urban, percent) 17 17 17 Foreign exchange reserves (yr end) 4,105 4,200 4,300 Average exchange rate (Dh/USD) 9.3 9.3 9.3 Foreign Debt 21,1048 21,048 21,048 Debt Service Ratio 37 37 37 U.S. economic/military assistance 112 66 50 3. Trade 1993 1994(e) 1995(e) Total Country Exports 3,696 4,362 5,365 Total Country Imports 6,663 7,865 9,675 U.S. Exports 672 795 980 U.S. Imports 126 150 170 U.S. Share of Morocco's Imports (%) 10.1 11,5 14 Imports of Manufactured Goods Total (from World) 1,833 2,165 2,665 From the U.S. 176 325 533 U.S. Share of Manufactured Imports (%) 10 15 20 Manufactured Goods Trade Balance with U.S. -175 NA NA Projected Average Annual Growth Rate from World through 1996 (%) 25 Projected Average Annual Growth Rate from U.S. through 1996 (%) 20 Imports of Agricultural Goods ( 1000 U.S. Dollars) Total Agricultural Imports 1,622 1,100 1,200 Agric, Imports from the U.S. 307 220 240 US Share of Agric.Imports (%) 19 20 20 Agric.Trade Balance with U.S. 1,222 900 950 Trade Balance with three Leading Partners in 1993: France: -USD 300.6 million Spain: -USD 373 million U.S.A: -USD 546 million Principal U.S. Exports: Wheat (HS 1101); Aircraft & Parts (HS 8802); Corn (HS 1101); Tobacco (HS 2401); Coal (HS 2701) Principal U.S. Imports: Crude minerals (HS 3103); Clothing (HS 6300); Canned fish (HS 1004); Canned vegetables (HS 2001); Sources 1993: Moroccan government preliminary estimates 1994 and 1995: Embassy projections 4. Investment Foreign Direct Investment Statistics There are no statistics on the stock of foreign investment in Morocco. The Moroccan foreign exchange office maintains balance of payments statistics which include annual foreign exchange inflows for private foreign investment. These statistics do not correspond exactly to foreign direct investment (e.g., they include portfolio investment). They are, however, the closest approximation to foreign direct investment available. The statistics show USD 590.2 million in foreign investment inflows in 1993, which represents approximately 2 percent of GDP. The following tables are based on the balance of payments statistics. Foreign Investment Inflows by Country of Origin (USD millions) Country 1990 1991 1992 1993 France 69.9 111.5 118.4 128.8 United Kingdom 9.1 13.7 10.1 118.0 Switzerland 11.9 36.9 32.2 99.2 Spain 18.8 27.4 94.8 73.6 United States 5.8 10.8 34.4 42.5 U.A.E. 28.4 28.3 20.3 41.0 Saudi Arabia 20.8 32.2 26.4 27.4 Libya 2.3 45.6 7.9 10.3 Italy 2.7 7.3 10.0 5.6 Germany 9.5 9.3 9.6 4.7 Kuwait 2.2 8.7 3.4 3.9 Netherlands 12.7 15.5 22.1 3.0 Benelux 10.6 12.9 25.1 1.9 Others 24.8 61.7 88.7 30.2 Total 229.4 421.8 503.3 590.2 Foreign Investment Inflows by Sector (USD millions) Sector 1990 1991 1992 1993 Textiles 18.7 11.5 7.4 9.6 Pharmaceuticals 4.3 5.1 3.2 0.0 Other Industry 35.6 82.0 125.8 125.8 Public Works 3.9 6.2 19.8 12.5 Banking 14.6 56.7 57.9 164.3 Mining 0.2 1.9 58.3 25.7 Commerce 6.6 18.5 33.6 3.0 Transport 0.2 2.9 1.4 0.8 Real Estate 51.3 59.5 39.1 39.6 Fishing 2.7 2.2 0.5 2.2 Telecommunications 0.2 4.2 2.5 0.8 Petroleum 0.2 0.3 0.0 52.5 Other Services 0.1 4.1 7.8 3.4 Tourism 12.8 23.8 4.9 41.5 Insurance 6.0 0.1 0.0 0.0 Agriculture 2.5 2.6 3.7 2.6 Holding Companies 17.6 55.9 32.6 56.7 Miscellaneous 46.2 37.8 104.8 49.0 Total 223.6 375.5 503.3 590.2 U.S. Investment by Sector (USD thousands) Sector 1990 1991 1992 1993 Textiles 0 2228 1804 54 Other Industry 546 4456 15413 3699 Banking 1602 0 0 18851 Commerce 61 1103 1769 430 Real Estate 861 333 960 3258 Petroleum 121 0 0 0 Tourism 0 0 656 634 Agriculture 170 46 1206 11 Miscellaneous 2487 2481 12544 12270 Total 5848 10647 34352 39209