Thanks to its economic development model, which combines openness, liberalisation and structural reform, Morocco has shown resilience in a difficult national and international context. Nevertheless the slowdown in activity in Europe, which is the country’s chief economic partner, and below-average agricultural production resulted in a distinct slowdown in growth, which was 3.2% in 2012. That rate makes it impossible to reduce the high level of unemployment, especially among young graduates and women. However, growth should pick up in 2013 to reach around 4.6%, driven by the consolidation of internal demand. Some industries have been given a boost by the implementation of the 2009-15 National Pact for Industrial Emergence (Pacte national d’émergence industrielle, {PNEI}) and they should make a vigorous contribution to growth.