Morocco’s economic resilience earns UNCTAD recognition

Morocco has emerged as a model of economic resilience in Africa according to the latest United Nations Conference on Trade and Development (UNCTAD) report, which identifies the Kingdom as one of the continent’s least vulnerable economies to external shocks.

The comprehensive assessment, reported by Les Inspirations Eco, highlights Morocco’s strategic investments in modern infrastructure that have yielded significant dividends. Between 2012 and 2022, the country achieved a 2.7 out of 5 rating for its transport and trade networks, reflecting deliberate efforts to establish itself as a regional logistics hub through port development and transportation modernization.

Despite facing challenges from energy dependence—ranking among Africa’s largest importers of petroleum products and vehicles—Morocco has successfully implemented economic diversification strategies. The Kingdom now stands as Africa’s fifth-largest service exporter, averaging $16.2 billion annually between 2019 and 2021, positioning itself just behind Egypt in continental rankings.

“Morocco’s robust sovereign wealth funds play a pivotal role in economic stabilization,” notes the UNCTAD report, placing the country alongside continental powerhouses Algeria, Egypt, Nigeria, Libya, and South Africa in financial resilience measures.

The COVID-19 pandemic tested this resilience, triggering a 6% GDP contraction that particularly impacted tourism and service sectors. Nevertheless, the country’s diversified export portfolio of manufactured goods and services has reduced its vulnerability to raw material price fluctuations.

Looking forward, UNCTAD analysts recommend continued infrastructure investment and deeper regional economic integration to maximize opportunities presented by the African Continental Free Trade Agreement’s $3.4 trillion market potential, reinforcing Morocco’s position as a strategic economic gateway to Africa.