Economy of Majocco

Economy of Majocco

Arabat, the financial center of Majocco
Currency	Dirham (MJD, م.)
Fiscal year	Calendar year
Trade organisations	TGTO, Islamic League and others
Country group	Developing/Emerging Upper-middle income country Newly industrialised country
Statistics
Population	18,550,000 (2024)
GDP	₵ 686 billion (nominal; 2024 est.) ₵ 800 billion (PPP; 2024 est.)
GDP rank	28th (nominal; 2024) tbd (PPP; 2023)
GDP growth	7.0% (2023) 4.6% (2024f)
GDP per capita	₵ 36,900 (nominal; 2024) ₵ 43,126 (PPP; 2024)
GDP per capita rank	12th (nominal; 2024) tbd (PPP; 2024)
GDP by sector	Agriculture: 3.1% Industry: 38.8% Services: 51.8% (2023)
GDP by component	Private consumption: 31.88% Government consumption: 18.2% Gross capital formation: 50.08% Exports of goods and services: 20.66% Imports of goods and services: 17.48% Net exports: 3.22% (2022)
Inflation (CPI)	1.85% (2024)
Population below poverty line	>0.1% at national poverty line $2.15/day (2024) 0.1% on less than $15/day (2024)
Gini coefficient	9.79 low (2024)
Human Development Index	0.874 high (2024)
Labour force	13,912,500 (2024) 77.6% employment rate (2024)
Labour force by occupation	Agriculture: 12% Industry: 46% Services: 42% (FY 2024)
Unemployment	2.6% (January 2024) 15.4% youth unemployment (January 2024, 15 to 24 year olds)
Average gross salary	₵ 23,280 (urban non-private sector) ₵ 18,100 (urban private sector) per month (2024)
Average net salary	₵ 11,174 (urban non-private sector) ₵ 8,688 (urban private sector) per month (2024)
Main industries	mining and ore processing, iron, steel, aluminum, and other metals, coal; machine building; armaments; textiles and apparel; petroleum; cement; chemicals; fertilizer; consumer products (including footwear, toys, and electronics); food processing; transportation equipment, including automobiles, railcars and locomotives, ships, aircraft; telecommunications equipment, commercial space launch vehicles, satellites
External
Exports	₵ 171 billion (2024)
Export goods	Agricultural products 8.4% Fuels and mining products 22.4% Manufacturers 69.2% Others 0.1%
Main export partners	Quebecshire 25.49% Montesayette 15.81% Sconia 11.4% Jackson 8.12% Monsilva 4.81% Kivu 4.39% Others 28.89%
Imports	₵ 114 billion (2024)
Import goods	Agricultural products 7.4% Fuels and mining products 16.3% Manufacturers 64.5% Others 11.8%
Main import partners	Quebecshire 35.51% Montesayette 25.76% Sconia 9.50% Jackson 4.12% Monsilva 3.82% Kivu 3.39% Others 17.90%
Current account	₵ 4.9 billion (2023) 1.4% of GDP (2023)
Gross external debt	₵ 533 billion (January 2024)
Public finances
Public debt	م. 539 billion 77.9% of GDP (2024)
Budget balance	21.6% of GDP (2024)
Revenues	310 م. billion 45.1% of GDP (2023)
Expenses	278 م. Billion 33.3% of GDP (2023)
Economic aid	Recipient TBD
Credit rating	Madison Credit Company: A (Domestic) A (Foreign) A (T&C Assessment) Outlook: Neutral
All values, unless otherwise stated, are in Quebecshirite Credits (₵).

Majocco has an upper middle income, the nation is a developing, Mixed economy, with a socialist market economy incorporating industrial policies and strategic ten-year plans.

It is the world's twenty-ninth largest economy by nominal GDP, behind Akvarelusus, and the world's [TBD] economy when measured by purchasing power parity (PPP).

The Majoccan economy consists of public sector enterprises, state-owned enterprises (SOEs) and co-operative enterprises, as well as a large domestic private sector and openness to foreign businesses in their system. Private investment and exports are the main drivers of economic growth in Majocco, while the Majoccan Government has also emphasized domestic consumption.