Industrialisation in Africa has been undergoing a major transformation in recent years. The modernisation process, driven by the government, has enabled African countries to move towards a modern and diversified economy. Morocco is one of the African countries that has benefited from this industrialisation process. By 2023, the North African country will rank second among African countries with an industrialised economy. This is mainly due to the stabilisation of its macroeconomic policies and the drive to modernise its productive sectors.
Morocco has benefited from foreign direct investment in various sectors, such as tourism, construction, agriculture and industry. This investment has enabled the Kingdom to develop infrastructure, train the workforce and improve productivity. The government has also implemented policies to improve access to finance and international trade. In addition, the North African country has launched a plan to modernise industrial production, which includes improving infrastructure, building new factories and adopting advanced technologies. These initiatives have enabled Morocco to increase its industrial production and expand into international markets. As a result of these efforts, it has managed to position itself as an industrialised economy that offers opportunities to foreign investors. This will enable the country to improve its competitiveness and economic security in the coming years, and thus remain in second place among African countries with an industrialised economy by 2023.
According to the report, Morocco is the second most industrialised country in Africa, with an Industrialisation Index of 83.7 points, followed by Egypt with an Industrialisation Index of 82.1 points. These two nations have the highest number of factories and companies on the continent. In addition, the report highlights that Morocco is the African country with the most natural resources, including very good transport infrastructure, as well as good education and a strong economy. Thus the Africa Industrialisation Index shows a positive trend towards industrial development in the region. Most African countries are experiencing slow but progressive growth in terms of industrial production, while some countries have already acquired sophisticated production capacities. The countries with the best Index scores are South Africa (0.8404), Morocco (0.8327), Egypt (0.7877) and Tunisia (0.7714). This shows that industrialisation is improving in the region and that countries are making progress in developing their economies.
In addition, it highlights that Morocco is a strong manufacturing economy in Africa, with a steady improvement in its indicators since 2010. The government has put a lot of emphasis on industrial development, especially in the automotive sector. This has enabled the country to increase its share in Africa's total manufacturing value added from 1.7 to 7.6 per cent between 2015 and 2018. Morocco is the leading economy in the North African region, with Egypt, Tunisia, Algeria and Mauritania. This sub-region has a variety of industries, such as inorganic chemical processing, fertiliser manufacturing, automotive and household appliance components, and textiles. The report highlights that the region benefits from its location close to the European Union, but also emphasises the need to improve connectivity between member countries and the north-south corridors with the hinterland and the rest of the African continent. This improved export performance has allowed Morocco to develop a more diversified economy that is more resilient to changes in the global economy. This has allowed Moroccans to enjoy a higher standard of living and a brighter future. Morocco's economy continues to evolve, which will allow the country to remain one of the leading exporters of manufactured goods in Africa.