Flag description: red with a green pentacle (five-pointed, linear star) known as Solomon's seal in the center of the flag; green is the traditional color of Islam
Economy
Economy - overview: Morocco faces the typical problems of developing countries - restraining government spending, reducing constraints on private activity and foreign trade, and keeping inflation within manageable bounds. Since the early 1980s the government has pursued an economic program toward these objectives with the support of the IMF, the World Bank, and the Paris Club of creditors. The dirham is now fully convertible for current account transactions; reforms of the financial sector have been implemented; and 43 state enterprises have been privatized. Drought conditions in three of the last four years have depressed activity in the key agricultural sector, holding down exports and contributing to a 7.5% contraction in real GDP in 1995. Favorable rainfall in 1996 nurtured a record wheat crop and contributed to the 9% overall growth. Servicing the large external debt, preparing the economy for freer trade with the European Union, and finding jobs for Morocco's youthful population remain long-term problems.
GDP: purchasing power parity - $97.6 billion (1996 est.)
GDP - real growth rate: 9% (1996 est.)
GDP - per capita: purchasing power parity - $3,260 (1996 est.)
GDP - composition by sector: agriculture: 21% industry: 30% services: 49% (1994)
Inflation rate - consumer price index: 5% (1996 est.)
Labor force: total: 7.4 million by occupation: agriculture 50%, services 26%, industry 15%, other 9% (1985)
Unemployment rate: 20% (1995 est.)