Bloom Consulting: Morocco 4th most attractive African country for trade
Morocco is the fourth most attractive African country and 50th worldwide for trade, according to a ranking published by Spanish consulting firm Bloom Consulting.
The Spanish consulting firm, specializing in Nation Branding, has published its report “Country Brand Ranking Trade – Edition 2022-2023”. In this ranking, the kingdom is in fourth place in Africa, behind Nigeria, South Africa and Ghana.
The study combines economic performance, nation branding strategy, and online presence of countries on trade-related topics to gauge their attractiveness in the field. Morocco, in this world ranking of the most attractive countries for trade, is overtaken on the continent by Nigeria (1st in Africa and 36th in the world), South Africa (39th in the world) and Ghana (48th in the world). Morocco stands before Egypt both continentally and globally.
Ethiopia (58th worldwide), Kenya (71st), Tanzania (76th), Uganda (80th), and Tunisia (86th) are in the African top ten.
In North Africa, Libya occupies the last place as 34th in Africa and 146th globally. Algeria continues to fall in rankings both globally and continentally, ranking 17th in Africa and 109th in the world. Algeria lost 7 spots compared to the previous ranking.
At the global level, the United Kingdom is in the lead ahead of the United States, India, France and Germany. Brazil, China, Australia, Singapore and Canada occupy the second half of the top 10.
Before this latest ranking, the United States was at the top of the six editions of the Bloom Consulting Country Brand Trade Ranking. The firm sees that Brexit did not affect the United Kingdom, which capped the ranking that the US led for many editions.
Bloom Consulting believes China will continue to suffer from the Covid-19 crisis in terms of commercial and investment attractiveness.The Asian giant fell by four ranks, and dragged with it Hong Kong, even if it is still considered one of the most attractive markets in the world. Canada, for its part, fell two places.
Every year since 2003, Bloom Consulting publishes the Bloom Consulting Country Brand Ranking in two distinct versions. One edition relates to Tourism while the second relates to Trade. The ranking determines a country’s position according to its economic performance based on previous economic history.