Markets Actual Q1 Q2 Q3 Q4 2020
Currency 9.61 9.65 9.68 9.7 9.73 9.79
Stock Market (points) 12486.85 12013 11935 11857 11781 11628
Overview Actual Q1 Q2 Q3 Q4 2020
GDP Annual Growth Rate (%) 2.10 3.1 2.7 3.4 3.8 3.7
Unemployment Rate (%) 9.40 9.7 8.3 9.2 9.4 9.2
Inflation Rate (%) 0.40 0.7 0.8 1 1.1 1.4
Interest Rate (%) 2.25 2 2 2 2 2
Balance of Trade (MAD Million) -15904.00 -18950 -19700 -16500 -18700 -20200
Current Account (MAD Million) -6048.60 -6400 -16100 4000 -6800 -6800
Current Account to GDP (%) -5.50 -3.7 -3.7 -3.7 -3.7 -2.9
Government Debt to GDP (%) 65.20 66 66 66 66 67
Government Budget (% of GDP) -3.70 -3.4 -3.4 -3.4 -3.4 -3.6
Consumer Confidence (points) 74.80 85 81 80 83 84
Corporate Tax Rate (%) 31.00 31 31 31 31 31
Personal Income Tax Rate (%) 38.00 38 38 38 38 38
GDP Actual Q1 Q2 Q3 Q4 2020
GDP Annual Growth Rate (%) 2.10 3.1 2.7 3.4 3.8 3.7
GDP (USD Billion) 118.50 125 125 125 125 130
GDP Constant Prices (MAD Million) 250980.00 250068 251719 256810 257804 267343
Gross Fixed Capital Formation (MAD Million) 314963.00 319845 319215 325672 326932 339028
GDP per capita (USD) 3357.40 3415 3415 3415 3415 3440
GDP From Agriculture (MAD Million) 29787.00 31224 32241 32894 33021 34243
GDP From Construction (MAD Million) 12148.00 12146 12077 12321 12369 12826
GDP From Mining (MAD Million) 3811.00 4125 3643 3716 3731 3869
GDP From Public Administration (MAD Million) 20791.00 20642 21060 21485 21569 22367
GDP From Services (MAD Million) 30666.00 30672 30765 31387 31508 32674
GDP From Transport (MAD Million) 9558.00 9221 9375 9565 9602 9957
GDP From Utilities (MAD Million) 5931.00 6301 6136 6260 6284 6517
Labour Actual Q1 Q2 Q3 Q4 2020
Unemployment Rate (%) 9.40 9.7 8.3 9.2 9.4 9.2
Employed Persons (Thousand ) 10747.00 11000 12150 12150 11170 11300
Unemployed Persons (Thousand ) 1114.00 1135 1145 1145 1140 1140
Population (Million) 35.20 36 36 36 35.8 36.1
Employment Rate (%) 40.70 41.4 41.7 40.1 40.1 41.56
Youth Unemployment Rate (%) 26.70 24.6 23.2 29 26.5 28
Prices Actual Q1 Q2 Q3 Q4 2020
Inflation Rate (%) 0.40 0.7 0.8 1 1.1 1.4
Consumer Price Index CPI (points) 121.20 120 122 122 123 124
Producer Prices (points) 109.00 107 107 107 107 107
Food Inflation (%) -0.70 0.8 1.2 1.2 1.4 1.6
Inflation Rate Mom (%) 0.40 -0.3 0.5 0.4 0.7 0.8
CPI Transportation (points) 112.80 112 114 114 114 116
Core Inflation Rate (%) 0.60 1 0.9 0.9 1.3 1.9
Money Actual Q1 Q2 Q3 Q4 2020
Interest Rate (%) 2.25 2 2 2 2 2
Money Supply M2 (MAD Million) 1046410.00 1055000 1065000 1075000 1100000 1100000
Foreign Exchange Reserves (MAD Million) 246817.00 228260 242000 233000 234152 240152
Banks Balance Sheet (MAD Million) 1402065.00 1456807 1460000 1420000 1462537 1462537
Deposit Interest Rate (%) 3.10 3.1 3.1 3.1 3.1 3.1
Central Bank Balance Sheet (MAD Million) 326476.15 320502 335606 327500 340000 355000
Trade Actual Q1 Q2 Q3 Q4 2020
Balance of Trade (MAD Million) -15904.00 -18950 -19700 -16500 -18700 -20200
Current Account (MAD Million) -6048.60 -6400 -16100 4000 -6800 -6800
Current Account to GDP (%) -5.50 -3.7 -3.7 -3.7 -3.7 -2.9
Imports (MAD Million) 39084.00 47250 43200 40500 45000 47600
Exports (MAD Million) 23180.00 28300 23500 24000 26300 27400
Tourist Arrivals 12280000.00 12450000 12450000 12450000 12450000 12570000
Foreign Direct Investment (MAD Million) 4403.00 4000 5200 7300 6500 7300
External Debt (MAD Million) 511720.67 497941 507155 501300 514905 523802
Government Actual Q1 Q2 Q3 Q4 2020
Government Debt to GDP (%) 65.20 66 66 66 66 67
Government Budget (% of GDP) -3.70 -3.4 -3.4 -3.4 -3.4 -3.6
Government Spending (MAD Million) 210014.00 213269 212849 217154 217995 226060
Taxes Actual Q1 Q2 Q3 Q4 2020
Corporate Tax Rate (%) 31.00 31 31 31 31 31
Personal Income Tax Rate (%) 38.00 38 38 38 38 38
Sales Tax Rate (%) 20.00 20 20 20 20 20
Social Security Rate For Companies (%) 18.50 18.5 18.5 18.5 18.5 18.5
Business Actual Q1 Q2 Q3 Q4 2020
Industrial Production (%) 1.60 3.2 1.8 2.6 3.3 3.5
Mining Production (%) -1.10 3.2 -1.3 3.6 3.5 4.2
Consumer Actual Q1 Q2 Q3 Q4 2020
Consumer Confidence (points) 74.80 85 81 80 83 84
Consumer Spending (MAD Million) 636065.00 645924 644652 657691 660235 684664


This page has economic forecasts for Morocco including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Morocco economy.