Trade in Morocco: Ways to Get Rich

Morocco is a densely populated country, which is a factor in the success of commercial projects, along with the country's abundant natural resources.

Trade is one of the vital sectors that generates wealth in a short period of time for individuals. Trade in Morocco, in particular, is one of the most important pillars upon which the state relies to raise the standard of living of individuals, the Kingdom of Morocco.

It has a distinguished strategic location that has led to the activation of trade and commercial exchange with other countries with ease, and thus the economic activity within the country has greatly diversified.

Trade in Morocco: Ways to Get Rich

You can achieve wealth in Morocco through many methods and projects, and one of the best of them is trade, as you can achieve profit and wealth by working in trade in all its different ways, as it is one of the most important economic sectors, and contributes greatly to building societies.

E-commerce in Morocco

What do you know about e-commerce in general? E-commerce is the process of displaying goods on non-physical online marketplaces, then selling them to people via screens.

This depends on a high level of awareness in this field and the credibility between the seller and buyer. The reason for the spread of e-commerce in Morocco is due to the following:

• The Moroccan market relies heavily on the assistance of educated, aware youth. A large proportion of young people have turned to online learning and self-reliance, in line with the global trend toward technological advancement.
• Relying on e-commerce in all areas, this field has opened the way for a large number of marginalized youth in Morocco.
• The COVID-19 pandemic that the world was exposed to during a certain period of time was a direct cause of the disruption of work in many projects and the shift to working online and through the World Wide Web.
• The increase in internet usage in Morocco, which reached 831 TP3T by the end of 2020, has played a major role in the spread of e-commerce.
• The intense competition between online merchants and investors, who offer unique offers that do not exist in local markets, has played a major role in the reliance on e-commerce.
• E-commerce saves time, effort, and money, such as not relying on labor, rent, and taxes, making it easier and more convenient for merchants to rely on it.
• The expansion and spread of the Internet, which has transcended local and global markets, has had a significant impact on practical life.
• E-commerce accounts for 901% of sales in Morocco, due to the increased credibility between sellers' presentation of goods and their actual condition.
• Selling goods online is not limited to selling goods only, but has extended to selling services such as educational services, providing legal, psychological, and educational consultations, and selling courses.

Real estate trading in Morocco

Real estate trading in Morocco is a highly profitable business, with a percentage of approximately 50%. This is due to the large population growth and the multiplicity of economic activities that depend on real estate. The real estate trade varies between the following:

1. Residential apartments

Trading in residential apartments, whether by buying them, leaving them for a period, then selling them, or subleasing them, is a highly profitable business for buyers or renters.

2. Towers and administrative apartments

Administrative apartments are treated the same as shops and trading in them falls under the real estate trade.

3. Agricultural lands

The quality of agricultural land in Morocco has led to a great demand for purchasing and investing in it.

4. Building lands

Selecting plots of land in service areas and then selling them after a period of time is one of the successful business ventures.

5. Shops

Shops are purchased for rental and monthly income without hassle, or for opening commercial projects and making financial gains.

Medicinal herbs trade in Morocco

Morocco is one of the most important Arab countries in the production of medicinal and therapeutic herbs, with its total weekly production reaching approximately 40,000 tons. Therefore, we find that trade in this type of commodity is widespread, as:

• It is exported to many neighboring countries.
• Medicinal herbs can be distributed to pharmaceutical companies and factories.
• It can be exported abroad, sold to perfume shops, packaged and sold to pharmacies, and traded in retail.

Fish trade in Morocco

Morocco has many water bodies, which makes it a major player in annual fish production.

This sector is supervised by a number of Moroccan government institutions, including the Ministry of Agriculture and Maritime Fisheries, the Ministry of Water and Forests, and the Ministry of Rural Development, as well as the National Fisheries Office.

This sector is one of the leading sectors in Morocco, contributing significantly to the increase in Moroccan national income through foreign exports, which have reached one million tons of fish annually. This percentage is not fixed, but rather increasing.

Besides domestic consumption, Morocco is a leading country in fish trade among other countries.

There are local fish markets in Morocco, as well as fish restaurants and shops.

Domestic and foreign trade in Morocco

One of the principles of trade is the connection between the seller and the buyer, and there are two types of them, as follows:

1. Internal trade

It takes place within the borders of the state by assembling goods and products and offering them in the domestic markets to sell them to consumers.

2. Foreign trade

The surplus of products is exported to other countries and the various countries of the world are linked together.

Components of Moroccan trade

Trade generally depends on several basic components, whether domestic or foreign trade. Among these components are the following:

1. Providing transportation and communication means

Providing transportation is one of the most important components of trade, as it allows goods to be transported easily from their production sites to markets. Transportation methods include land transportation, including railways and transport vehicles, maritime transportation such as ships, and air transportation.

2. Providing markets

These markets may be physical or online.

3. Production of materials to be marketed

Where all materials and products are produced, whether agricultural or industrial, such as cement, iron, and fertilizers.

4. Providing security

If there is no security, everything is lost, and the economic condition of the country, upon which all the necessities of life depend, deteriorates. Providing security is one of the basic pillars upon which trade depends.

5. State capital power

The stronger the capital, the more the buying and selling activity increases and the industry, agriculture and trade become more active, especially in countries that are distinguished by handicraft industries and agricultural countries that possess natural resources that increase their economic activity.

Morocco is the home of traditional crafts

Morocco has a cultural richness that is evident through its traditional crafts that date back to ancient times. It is a country of crafts, with many professions such as pottery making, carpet making, slipper and bag making, and other crafts.

1. Moroccan carpet or rug

The hand-woven carpet industry in the cities of Rabat and Fez is distinguished. They have a large collection of hand-woven products, and the rugs are made using original and ingenious patterns. Moroccan rugs are evaluated based on the number of knots and designs they contain, and there is a distinction between traditional and modern rugs.

2. Traditional iron industry

Iron is used in the manufacture of antiques and accessories such as lanterns, lampshades, and mirrors. Marrakesh, Fez, Safi, and Salé are famous for this industry.

3. Jewelry making

Marrakesh and its surrounding areas are home to numerous manufacturers of luxury jewelry. Silver accessories are made in the regions of Guelmim and Agadir, while gold accessories are also made and sold in gold shops.

4. Pottery and stone

Pottery and stone constitute a large percentage of Morocco's exports, especially to North America, followed by Arab countries, followed by France.

5. Juniper wood industry

Products made from juniper wood are made in Essaouira, a valuable wood from the Atlas Mountains, and are found in all Moroccan cities.

6. Plaster, tiles, and copper

Plaster and zellige are essential elements of Moroccan architecture, and the city of Fez is the leading capital of this industry. As for copper, the cities of Fez, Marrakesh, and Tetouan are the most famous cities for its production. Among these products are pottery and lamps, and Moroccan craftsmen have excelled in this industry.

7. Traditional shoes in Morocco

The traditional shoe in Morocco is an ancient folk heritage that has preserved its artistic value to this day with its wonderful colors. The men's shoe made of yellow leather is called "balgha" and it was given this name because it helps a person achieve his goals. The women's shoe is called "sherbil". Balgha is given as a gift because of its great meaning, which symbolizes longevity and the fulfillment of one's wishes in life.

Traditional industries contribute significantly to foreign trade. Trade in traditional industries is a lucrative business that can generate wealth for its owners if they rely on exporting them abroad to countries that use high-value currencies.

The traditional industries market is divided into products sold within the country and those sold abroad. If you're heading to Morocco looking for a type of trade that can quickly make you rich, you should read our article today.