Industry
The Moroccan industrial sector looks set to continue the strong growth it has enjoyed in recent years. Industrial activity recorded a 5.5% increase in 2007, a slight rise over 2006, when the sector grew by 4.7%. Added value in the sector increased by 5.6% in 2007. Overall the contribution of industrial activity to GDP fluctuates between about 25% and 35% every year, depending on the performance of the agriculture sector. The industrial sector accounted for about 21.1% of employment in 2007 and the sector is a key component of the government's effort to curb unemployment. The sector also attracts high levels of FDI and authorities have announced initiatives to improve the investment climate, with particular attention to off-shoring activities, automotive, aeronautics, electronics, food processing activities, products from the sea and textiles. Other important industrial sectors include mining, chemicals, construction materials and pharmaceuticals. The future of Morocco's industrial segment looks bright, particularly as new initiatives make it more globally competitive in a variety of sectors.
Read more about this topic: Economy Of Morocco
Famous quotes containing the word industry:
“The reason American cars don’t sell anymore is that they have forgotten how to design the American Dream. What does it matter if you buy a car today or six months from now, because cars are not beautiful. That’s why the American auto industry is in trouble: no design, no desire.”
—Karl Lagerfeld (b. 1938)
“For almost seventy years the life insurance industry has been a smug sacred cow feeding the public a steady line of sacred bull.”
—Ralph Nader (b. 1934)
“... we’re not out to benefit society, to remold existence, to make industry safe for anyone except ourselves, to give any small peoples except ourselves their rights. We’re not out for submerged tenths, we’re not going to suffer over how the other half lives. We’re out for Mary’s job and Luella’s art, and Barbara’s independence and the rest of our individual careers and desires.”
—Anne O’Hagan (1869–?)