Morocco's fisheries information in 2024

Published Jul 26, 2024

Tridge summary

Morocco's fishing industry is a vital sector, significantly contributing to employment, food security, and exports, with annual fishery product exports between $2 billion and $3 billion. Employing 600,000 to 700,000 people, the industry focuses on species like sardines, mackerel, and anchovies. The Moroccan government is investing in processing facilities, port infrastructure, and ship replacements, with key export markets in the EU, Africa, and Asia. Opportunities exist for Korean companies in supplying steel plates, fishing gear, fuel, and parts, despite Morocco's foreign exchange regulations. The country is also diversifying markets and upgrading facilities, with potential benefits from a Korea-Morocco FTA and the upcoming Salon Halieutis exhibition in 2025.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Africa's fisheries powerhouse... Promising exports such as steel plates for ships and fishing gear Fisheries industry, considered a nationally important industry Population: 600,000-700,000 people engaged in fishing Fishery product exports: $2 billion to $3 billion per year Moroccan government focuses on fostering fisheries industry Improving processing facilities and port infrastructure Promoting a program to replace old ships Markets that Korean companies should pay attention to Competitiveness in supply and assembly of steel plates for ships increases The outlook for fishing gear, fuel, and parts is bright. Morocco, bordering the Atlantic Ocean and the Mediterranean Sea, has a coastline of 3,000 km and is rich in marine resources. Morocco's fishing industry is an important industry that contributes to employment, food security, and exports, and also plays an important role in earning foreign currency. Most of the catch is exported to Europe, Asia, and Africa, with annual ...

Source: Fisheco