This study of Morocco’s trade policy comes at a time of decelerating growth that has prompted considerable debate about the future of the Kingdom’s development model and the role that trade and investment policy should play. The economic and health damage wrought by the COVID-19 pandemic, and the mounting uncertainty stemming from more recent geopolitical developments, add urgency to such discussions.
Morocco has made significant economic progress over the past 20 years, witnessing a sustained rise in living standards. Per-capita income doubled between 2000 and 2019, while the poverty rate fell to one-third of its 2000 level. Literacy rates and health outcomes both improved over the period, along with access to basic infrastructure such as water and electricity. There were also marked advances in connectivity-boosting trade infrastructure. Labor productivity also improved, driven by a high share of public capital accumulation, but the pace is slowing, and there is significant scope for improving efficiency (Lopez-Acevedo et al, 2021).